MMB response to Vikings stadium legal challenge

Here is the  response from the Minnesota Department of Management and Budget  to the legal challenge to the financing of the new Vikings stadium.

From the Associated Press:

A state agency that was set to sell public bonds for the Minnesota Vikings stadium said in a legal filing Tuesday that a lawsuit holding up that $468 million effort is flawed.

Department of Minnesota Management and Budget lawyers pressed the state Supreme Court to dismiss the case. It was filed Friday, a few days before a scheduled bond sale was to occur. The lawyers argue the lawsuit has cast a "material cloud" in the minds of investors and needs to be resolved quickly.

"The existence of an unresolved lawsuit challenging the constitutionality a pending bond issue not only disrupts the timing of a bond sale and closing, but also creates an investment risk that translates to reduced market demand and higher interest costs for the state," lawyer Thomas Klosowski wrote in the brief.

Before you go...

MPR News is dedicated to bringing you clarity in coverage from our reporters across the state, stories that connect us, and conversations that provide perspectives when we need it most. We rely on your help to do this. Your donation has the power to keep MPR News strong and accessible to all during this crisis and beyond.