Legal challenge delays Vikings stadium bonds
Published 10:14 am Monday, January 13, 2014
MINNEAPOLIS — A legal challenge has forced the state to delay a $468 million bond sale to finance the new stadium for the Minnesota Vikings, state officials announced Sunday, saying the lawsuit jeopardizes plans to open the facility for the 2016 season as well as plans for a nearby $400 million development.
The bond sale had been scheduled for Monday and Tuesday. Minnesota Management and Budget Commissioner Jim Showalter said Sunday that he hoped the delay would be brief but that officials decided it was “appropriate and prudent” to postpone the sale until the Minnesota Supreme Court can sort out the legal issues.
“This is not a long-term delay. This is a decision not to offer bonds on Monday,” Showalter said. Federal law requires that any pending legal actions be disclosed when bonds are sold, he explained.
Former Minneapolis mayoral candidate Doug Mann filed the challenge with the Minnesota Supreme Court on Friday. He and two other citizens asked the high court for a restraining order to block the bond sale, saying the financing arrangements were designed to circumvent a city charter provision that would have triggered a referendum.