Dive Brief:
- Minnesota officials are hoping for a quick and favorable ruling by the state Supreme Court on a challenge filed Friday against the first round of bond sales to finance the new Vikings Stadium in downtown Minneapolis.
- The head of the state Sports Facilities Authority said even a relatively short delay now could knock the $1 billion project's completion back a year from the scheduled summer 2016 date.
- A round of bills are due for payment at month's end, but the state opted to hold up at least briefly because all legal issues are required to be disclosed as part of bond sales, and they would rather not go to market with the question hanging over the $468 million bond issue.
Dive Insight:
Three people – a former candidate for Minneapolis mayor, his wife and a former member of the city school board – filed a petition asking the high-court judges to agree that it is illegal for the state to divert some sales tax revenue to repay the bonds. They tried a lawsuit before saying the city should hold a referendum to find out if city residents want to fund a stadium.