Dead on the Vine

Albanese, Elizabeth
January 2005
Bond Buyer;1/11/2005, Vol. 351 Issue 32047, p31
Trade Publication
The article informs that Grapevine, Texas officials last week opted to pull out of a proposed agreement between the city and aquarium developer Erik Pederson. The city, located near Dallas,Texas said that Pederson's company, U.S. Aquarium Team of Grapevine, was unable to come up with investors for the project. Last year, the city created the Aquarium Development Corp. of Grapevine, a nonprofit organization that would have issued tax exempt lease-revenue bonds for the facility. In return, the city would have received ownership of the aquarium after the bonds were repaid in 20 years.


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