D.C. Eyes $292M Stadium Issue If It Wins Baseball Franchise

Vadum, Matthew
May 2003
Bond Buyer;5/9/2003, Vol. 344 Issue 31632, p4
Trade Publication
The District of Columbia plans to sell$ 291.9 million in insured tax-exempt and taxable revenue bonds in 2005 to help build a new$ 463 million sports stadium downtown if it secures a Major League Baseball franchise later this year, capital city officials told reporters yesterday.The $291.9 million figure is the most precise estimate that district officials have offered to date of how much debt might be issued for the stadium-building project.Federal law prevents the district from taxing income on the nonresidents who account for about two thirds of the income generated in it, but Democrat Eleanor Holmes Norton, the city's nonvoting delegate in the House, has introduced legislation that would authorize the district to tax income earned in the district by professional baseball players.


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