SIOUX FALLS, S.D. (AP) - Plans to sell $120 million in bonds to
pay for a new events center in South Dakota's largest city are on
hold - for now.
The city's finance director, Tracy Turbak says the delay is in hopes
of getting the best deal possible. He says, "the more competition, the
better from the city's standpoint."
Turbak says the city wants to get bond ratings from Standard and
Poor's and Moody's. By waiting for the double bond rating, city officials
hope to drum up more bidders.
Voters approved the new 12,000-seat events center in November
after months of debate. Supporters say it will energize the economy;
opponents protested that it wouldn't be situated downtown.
Turbak says the delayed bond sales won't delay construction,
which is set to start this summer.
(Copyright 2012 by The Associated Press. All Rights Reserved.)
AP-NY-01-23-12 2029EST
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