The Sports Authority of Nashville and Davidson County, which owns the stadium used by the National Football League’s Tennessee Titans, is selling $35 million of taxable revenue bonds with yields near the lowest since 1994.
The authority will use $11 million to refund existing debt, saving more than $1 million, and the rest for improvements including high-definition scoreboards and an improved sound system, said Richard Riebeling, director of finance for the Nashville metropolitan government, of which the authority is part. It will be the first bond sale by the nonprofit authority since construction began on the stadium in 1997.
Thirty-five million when the project is costing $23.5 million? Riebeling, via e-mail, explains:
Earlier [Tuesday] we sold $22,860,000 in bonds to finance stadium improvements and $10,545,000 to refund 1198 bonds issued by the Sports Authority.
Sears officials announced Tuesday the company will close up to 120 stores nationwide in a cost-savings move. Before today's announcement, Sears had closed 171 of its U.S. stores since its 2005 merger with Kmart.
Davidson County is home to five conventional Sears stores and five Kmart stores.
- ALEX B FRUIN INHERITANCE TRUST; CANDACE F STEFANSIC INHERITANCE TRUST; CANDANCE F STEFANSIC INHERITANCE TRUST; FRUIN, ALEX B TRUSTEE; FRUIN ALEX B INHERITANCE TRUST; STEFANSIC, CANDACE F TRUSTEE; STEFANSIC CANDACE F INHERITANCE TRUST; STEFANSIC CANDANCE F INHERITANCE TRUST
- ROSS, BRIDGETT D
- COOKE, ETHEN LANYARD TRUSTEE; COOKE, ETHEN LEWIS ESTATE
- JACOBS, JESSICA ALEXANDRA; JACOBS, ERIKA BESS