Texas A&M Mulls Taxable Debt for Stadium: Muni Credit
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Texas A&M University, Governor Rick Perry’s alma mater, may join the biggest wave of taxable municipal-bond sales since 2010 to help finance the costliest stadium project in U.S. collegiate sports.
The 137-year-old school expects to sell as much as $320 million of 30-year bonds later in 2013 for a $450 million project, less than a year after finishing fifth in the Associated Press national college football poll. Led by Heisman Trophy-winning quarterback Johnny Manziel, it was the school’s best showing in more than five decades. The school is considering both taxable and tax-free debt, said Steve Moore, a vice chancellor.