Minnesota

The Minneapolis City Council approved plans for a $400 million development adjacent to the new Minnesota Vikings professional football stadium.

Minnesota now projects a $1 billion budget surplus for its current two-year budget cycle thanks to higher taxes and the state’s ongoing economic recovery.

The public body overseeing construction of a new Minnesota Vikings professional football stadium approved an agreement with the team and developer that caps the construction costs at $763 million.

The Minneapolis City Council has approved a $100 million planned renovation of the 23-year-old city-owned Target Center arena.

National League of Cities members on Saturday elected St. Paul, Minn. Mayor Chris Coleman as their president for 2014 at a business meeting on Saturday.

The Minneapolis City Council is expected to vote later this month on the city's agreement with the National Basketball Association's Minnesota Timberwolves on a $97 million renovation plan for the city-owned Target Center arena.

A Minnesota city and investors holding $26.4 million of defaulted revenue bonds for a broadband network have a settlement agreement.

Minnesota picked RBC Capital Markets to run the books on its upcoming Minnesota Vikings stadium bond issue with JPMorgan and Wells Fargo Securities serving as co-senior managers, according to the Minnesota Management and Budget office.

Minnesota will wrap up its new-money general obligation borrowing for the year in a sale Tuesday of up to $767 million that includes a refunding piece before shifting gears to financing the new Minnesota Vikings professional football stadium.

The trustee for $27 million of defaulted lease revenue bonds backed by Vadnais Heights, Minn. for a sports complex received is mulling final offers from potential buyers that range from $10.5 million to $13 million.

Minnesota launched its search for underwriters interested in working on state appropriation-backed bond issues for the Minnesota Vikings football stadium.

A judgment in a New Jersey civil lawsuit shouldn't impede the ability of the Minnesota Vikings' owners to finance their contribution to a football stadium, a public review found.

The Ramsey County, Minn., Board has approved placing a bid for the struggling Vadnais Heights sports complex financed with $27 million of now defaulted bonds.

Minnesota Vikings owner Zygi Wilf can cover his share of a new $975 million football stadium despite a hefty judgment civil lawsuit, according to a Minnesota Sports Facilities Authority-ordered examination.

The Minnesota Sports Facilities Authority last week hired Dorsey & Whitney and FTI Consulting to conduct a financial review of Minnesota Vikings owner Zygi Wilf and his real estate business after a New Jersey judge found a Wilf partnership guilty of fraud in a longstanding civil case.

Rising interest rates and lagging economic growth sidelined borrowers in the Midwest where issuance dipped by 12% to $34 billion during the first half of 2013 compared to the same time last year.

Minnesota Municipal Power plans to enter the market in the coming days with a $20 million sale of electric revenue bonds to help finance a bioEnergy project.

The five issuers can redeem a total of $128.44 million because sequestration-imposed cuts in the federal subsidy payments they receive triggered extraordinary redemption provisions.

Moody's Investors Service has revised its outlook on Fairview Health Services' A3 rating to stable from negative in recognition of its improved operations.

Moody's Investors Service revised its outlook on Forest Lake Independent School District 831's underlying Aa3 rating to negative as the district heads to market with a $3.4 million bond issue to buy an ice arena and field house.