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Article: San Jose may sell $155 million of certificates to fund new ballpark for San Francisco Giants.
- Article from:
- The Bond Buyer
- Article date:
- January 22, 1992
- Author:
CopyrightCOPYRIGHT 1992 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LOS ANGELES -- San Jose may issue tax-exempt certificates of participation to finance a new stadium for the San Francisco Giants, if voters approve the plan in June.
While the city has yet to finalize the size and structure of the financing, officials are considering the sale of at least $155 million of certificates to pay partial costs of the 48,000-seat stadium, according to Joan R. Gallo, the city's attorney.
Under an agreement reached last week between San Jose and the National League baseball team, the city will pay $155 million of the estimated $185 million stadium costs. The Giants, owned primarily by real estate investor Bob Lurie, will sign a ...