Phoenix Suburb Skates Toward $165 Million Arena Deal

Williamson, Richard
May 2003
Bond Buyer;5/9/2003, Vol. 344 Issue 31632, p6
Trade Publication
Glendale, Arizona, will price $165 million of excise tax revenue bonds next week for an arena for the National Hockey League's Phoenix Coyotes that will be the epicenter of a major commercial and professional sports complex in the western suburb of Phoenix.In a deal with Arizona developer and Coyotes owner Steve Ellman, the city agreed to finance four-fifths of the arena with revenue bonds and provide $ 30 million of infrastructure through general obligation bonds.Next door to the arena, ground has already been broken for a new Arizona Cardinals stadium, financed in part with $ 230 million of revenue bonds issued by the Arizona Tourism and Sports Authority, a Maricopa County agency created by voters to find a stadium site and issue financing.The arena revenue bonds will be sold in two series by a city-owned conduit issuer, the Glendale Municipal Property Corp. Underwriters on the$ 65.7 million of tax-exempt Series 2003A bonds are UBS PaineWebber Inc., J.P. Morgan Securities Inc., Citigroup Global Markets Inc., Siebert Brandford Shank, M.R. Beal.


Related Articles

  • Minnesota agency puts its own Twins stadium plan on deck. Shields, Yvette // Bond Buyer;06/17/99, Vol. 328 Issue 30664, p36 

    Reports on the Minneapolis, Minnesota-based Metropolitan Sports Facilities Commission's plan to renovate the Metrodome sports facilities. Agency's plan to issue bonds to help finance the project; Proposed bond issues by the cities of Minneapolis and Saint Paul to finance construction of a...

  • N.J. hoping minor-league hockey arena will bolster Trenton revitalization efforts. Tunick, Britt // Bond Buyer;08/15/97, Vol. 321 Issue 30210, p35 

    Reports that Mercer County, New Jersey will issue $31.1 million of bonds to fund construction of a minor-league hockey arena in Trenton. Financing of the balance; Debt service plans; Agencies which will shoulder the state's contribution; Optimism that the arena will draw revenues into Trenton's...

  • After close margin, Dallas voters give thumbs up to $125 million of arena bonds. Sanders, Lisa // Bond Buyer;01/21/98, Vol. 323 Issue 30314, p3 

    Reports on the plans of city officials in Dallas, Texas to sell $125 million of bonds for a new arena after voters approved the use of increased hotel and short-term car rental taxes in January 1998. Expected sale of $300 million of convention center bonds to achieve interest rate savings and...

  • Dallas Cowboys Want New Stadium, and an Authority, Too. Williamson, Richard // Bond Buyer;3/5/2003, Vol. 343 Issue 31586, p40 

    Reports on the plans of Texas-based football team Dallas Cowboys to create a sports authority that will issue bonds to finance a stadium for the National Football League team. Plans of Dallas County to follow the approach adopted by Arizona's Maricopa County; State law provisions that guides...

  • NFL's Cowboys Get Stadium Approval; Local Battles Loom. Williamson, Richard // Bond Buyer;5/12/2003, Vol. 344 Issue 31633, p4 

    The Dallas Cowboys organization can now focus its lobbying efforts on the local level after winning legislative approval for a Dallas County plan to build a partially bond-financed $1 billion stadium complex for the National Football League team.Perry is expected to sign the bill despite...

  • TEXAS: Feel the Burn. Albanese, Elizabeth // Bond Buyer;10/23/2001, Vol. 338 Issue 31249, p35 

    Reports on the use of bonds by officials in Collin County, Texas to pay the cost of a proposed $60 million stadium for the Dallas Burn Major League Soccer (MLS) team. Sports complex proposed by the county; Information related to the ownership of MLS teams; Details on the structure of the...

  • Bear Alternative. Shields, Yvette // Bond Buyer;12/12/2001, Vol. 338 Issue 31283, p34 

    Focuses on the controversy over $400 million project for to build football stadium in Chicago, Illinois, for which the Illinois Sports Facilities Authority sold bonds during the October 2001. Reasons behind the opposition of local residents; Objection of city residents regarding design of...

  • State shouldn't be a player in White Sox's bond game. Reed, Robert // Crain's Chicago Business;2/17/2003, Vol. 26 Issue 7, p11 

    Analyzes the effectiveness of state-backed Illinois Sports Facilities Authority's (ISFA), which is the White Sox's landlord, intervention to use its authority in supporting bonds meant for construction and maintenance of sports grounds. Deal between ISFA and Chicago, Illinois-based U.S....

  • Omaha arena bill fails to win support for the second time. Goldsmith, Steve // Bond Buyer;04/16/98, Vol. 324 Issue 30373, p38 

    Reports on the failure of the Nebraska Legislature to resurrect a bill that would let Omaha seek voter approval for a half-cent sales tax increase to support the bonds for a proposed arena. Lack of enough support to push the bill into the full chamber; Other sources of funds for the arena.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics