Updated:
Original:

Short-term financing may be needed to keep stadium on schedule

Author:

Short-term financing may be required with a lawsuit blocking the sale of public bonds for a new Vikings stadium.

The lawsuit threatens to delay the timeline for construction on the Vikings Stadium, if the matter is not resolved in time.

The Pioneer Press reports even if the State Supreme Court acted quickly it is unclear if the state could or would make the bond sale in time to provide money for the project by next week.

According to the newspaper, Minnesota Management and Budget Commissioner Jim Schowalter isn't sure what a short-term financing package would look like. He said, "We're in, again, unprecedented waters."

The Minnesota Sports Facilities Authority officials have said they need proceeds from the $468 million bond sale by next Thursday to proceed with the acquisition.

Schowalter was unsure if the money could be ready by Thursday. He told the Pioneer Press it takes time to put together a bond sale, similar to the process of closing on a house.

Three Minneapolis residents filed the lawsuit to stop the bond sale and the stadium project. Former Minneapolis mayoral candidate, Douglas Mann, his wife, Linda; and former city School Board member David Tilsen say the bond sale is unconstitutional.

The MSFA said, "Mr. Mann appears to be a serial litigant, determined to keep asserting meritless claims until this court, the final arbiter of Minnesota law, definitely disposes of those claims.

Both sides in the lawsuit filed their paperwork on Thursday.

The court is expected to rule in short order.

Next Up

Mike Zimmer

Vikings-Panthers: 5 things you can count on happening

The Vikings will look to open things up in Carolina.

Tanner Morgan/Gopher Football

Morgan's resurgence, Nebraska's miscues help Gophers hold on

The Gophers quarterback threw a pair of touchdowns in a 30-23 victory.

Tina Smith

Sen. Tina Smith warns Dems she may not vote for budget bill if climate plan dropped

This comes amid a White House effort to get its "Build Back Better" plan passed.

Pixabay - emergency room ambulance hospital

St. Paul man dies six days after crash on I-94

The Hennepin County Medical Examiner has identified the man as David Rodney Hardaway.

police lights squad car dark - Unsplash

Double murder in northeastern Minnesota, suspect kills himself after chase

The suspect died at the scene from a self-inflicted gunshot wound.

chaska school fight

Anti-masker involved in school board meeting fight charged with assault

It happened last month at an Eastern Carver County Schools hearing.

Marcus Foligno

Marcus Foligno throws hands, scores game-winning goal in Wild's opener

The Wild forward scored with 7.2 seconds left to beat Anaheim.

Screen Shot 2021-10-15 at 10.01.55 PM

Large police presence at Emagine Willow Creek movie theater in Plymouth

There are few details at this stage as to what has happened.

Maple Grove Police Department

Maple Grove-based businessman convicted of fatally shooting wife

Wiseman owns properties in both Minnesota, Nevada and China.

betty and earls biscuits facebook

Jason Matheson's biscuit shop to briefly close ahead of relaunch

Betty & Earl's will shut down for two weeks before reopening under a new name.

Simon Merino Go Fund Me

Worker dies in forklift accident at paper recycling business

The victim was described as a loving father of two who was devoted to his church.

rosie means - go fund me

Authorities ID woman killed by hit-and-run driver who ran red light

A fundraiser was created to support the family after the "sudden and senseless loss."

Related