Two years after Jackson County voters resoundingly rejected a ballot measure that would have increased sales taxes to fund a new stadium for the Royals, Kansas City’s city council approved $600 million in tax-free bonds for a baseball stadium project that’s expected to receive $1.14 billion in public funds from the city and state of Missouri.
The agreement passed by the city’s finance committee and approved by an 11-2 council vote also stipulates that the Royals “have no obligation to repay or otherwise support payment of” city-backed bonds, leaving the city to cover shortfalls. That’s a key stipulation given the risk involved to the city and…
Read the full article at SPORTS.YAHOO.COM
