Quote:
Originally posted by PhiPsiRuss
About those bonds, would anything happen to D.C. if they did not proceed with the stadium?
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They issued $147.25 million in bonds just now. They are not specific to stadium financing but are going into an account for capital improvements.
They don't have to use it for a stadium BUT it was sorta implied that they would be. The politics sorta were in play I guess.
They are backed by the District and also the special real property tax.
DC is interesting because they hadn't issued debt in a while since the Federales took over.
Anyway, something would happen if DC didn't pay back the bonds but not if they didn't build a stadium.
-Rudey
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