June 29, 200917 yr The bonds sale is to take place today and tomorrow (June 29 and 30) Does anybody know how to find the results of the bond sale, or do we need to wait until Wednesday, July 1? Is it a public sale where we can look up the results, or is it a private deal?
June 29, 200917 yr The bonds sale is to take place today and tomorrow (June 29 and 30) Does anybody know how to find the results of the bond sale, or do we need to wait until Wednesday, July 1? Is it a public sale where we can look up the results, or is it a private deal? Should be public...
June 29, 200917 yr They had an interview with Samson on Marlins On Deck tonight and he said tomorrow was the big day with the bonds. He said something to the effect of people are working on the bonds as we speak in NY for tomorrow's sale. I'm not exactly sure where to see the results of a bond sale online, but there is a special Miami Dade County commission meeting to give the final go ahead tomorrow at 10am. So I'm sure the results will be known then. Perhaps someone with a better grasp of how this works can answer this...I would assume that a bond sale of this large amount is likely bought by financial institutions. I would also assume that when you have a bond offering this large, buyers are lined up in advance of the sale. Am I correct?
June 30, 200917 yr They had an interview with Samson on Marlins On Deck tonight and he said tomorrow was the big day with the bonds. He said something to the effect of people are working on the bonds as we speak in NY for tomorrow's sale. I'm not exactly sure where to see the results of a bond sale online, but there is a special Miami Dade County commission meeting to give the final go ahead tomorrow at 10am. So I'm sure the results will be known then. Perhaps someone with a better grasp of how this works can answer this...I would assume that a bond sale of this large amount is likely bought by financial institutions. I would also assume that when you have a bond offering this large, buyers are lined up in advance of the sale. Am I correct? well yeah...wachovia was lined up 100 million. though i wonder, "what if" we dont sell all of the bonds? how does that work according to the agreement? anyways, i'm sure they will sell them. i took a look yesturday at the new marlins stadium webcam at about 4:30 pm and there were people out there in white trucks. im sure construction will begin right on scehdule. im not too concerned.
July 1, 200917 yr http://www.miamihera...ry/1121876.html it just cant be easy, can it? Marlins stadium bond sale falls short BY MATTHEW HAGGMANmhaggman@miamiherald.com The long-awaited sale of bonds to pay for a new baseball stadium in Little Havana fell short Tuesday, prompting a scramble at County Hall and a last-minute pledge by the Florida Marlins to cover the difference. Late Tuesday, County Manager George Burgess told commissioners that the effort to raise $306 million by issuing bonds backed by tourist taxes on Monday and Tuesday was off by $6.2 million. The reason for the shortfall, Burgess said, is that a portion of the bonds fetched a higher-than-expected interest rate, thereby reducing the proceeds to the county. ''It's been a long day,'' Burgess said. ``But we are awfully, awfully close.'' To fill the gap, Florida Marlins President David Samson told county commissioners Tuesday evening that the ballclub will pick up the $6.2 million difference. He pledged that the project will not be scaled back at all. ''My proposal is no change . . . other than the county's contribution is going down by $6 million,'' Samson said. But that change triggered questions over whether the revised deal between the county and baseball team required another vote by the city of Miami, the other partner in the stadium deal. The proposed change would also require county commissioners to amend a cap on the interest rate. County leaders previously said the bond interest rate could not be above 7.5 percent. But a portion of the bonds were priced by investors north of 8 percent. ''No one thought we would go above 7.5 percent. Now we are above that,'' said Commissioner Carlos Gimenez, a stadium critic. But the county manager was quick to say the higher interest on some bonds doesn't mean the county pays more for the stadium or changes the payment schedule. Still, uncertainty reigned. ''I am so confused,'' said Commissioner Barbara Jordan after a series of questions. By 9 p.m., the commission had yet to take a vote on the issue. The issue became so confusing -- and anxious -- that by 8:45, County Mayor Carlos Alvarez, one of the project's prime backers, appeared at County Hall -- likely to assauge any last-minute doubts. Construction had been scheduled to start on the stadium Wednesday, with a formal groundbreaking on July 18. It was unclear Tuesday evening if that schedule was still on pace. The stadium, eyed for opening day 2012, would have 37,000 seats and a retractable roof, representing the long-sought permanent home for a franchise that has won two World Series titles yet consistently struggles with among the lowest payrolls and attendance in baseball. The newest debate is the latest in a project that took more than a decade to win approval from the city and county, before those green lights came earlier this year. Advocates say the new facility will ensure the franchise's permanent home in South Florida.
July 1, 200917 yr I am sorry but what the f*ck is the big deal about 6.5 million out a project that is worth 600 million, for god's sake the Marlins already said that they will fill the gap and the county won't have to do anything, i can't believe that this thing will take longer now over 1% of the total price tag of the stadium.
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