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If the Arena’s cost is only $238 million, why is it necessary to issue $349 million in bonds?

April 26, 2017Arena bonds COST ISSUE necessary

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If the Arena’s cost is only $238 million, why is it necessary to issue $349 million in bonds?

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In addition to the direct Arena costs, the Arena Authority has issued bonds to capitalize interest during the construction period, to fund a debt service reserve, and to pay bond issuance costs.