A long-term revenue source is needed to secure the long-term financing that helps make the annual payments affordable, much like a home mortgage. The financial plan amortizes the sales tax related bonds out until 2084, which is the length of time required to affordably secure long-term sales tax-backed bonds. The financial plan also envisions a scenario in which continued historical generation of sales tax revenues could allow the early repayment of those bonds.
- Invitation to Bid: WP-50A_C-111 — April 3, 2019
- Diversion Authority Reviews Updated Costs; Project Costs Including Plan B Expected to be $2.75 Billion — December 3, 2018
- ND Legislature Approves $180 Million Additional for Project; Diversion Board to Continue Working on Financial Plan and Preparing for Project Construction — April 25, 2019
- Diversion Authority Officially Submits Plan B to Minnesota Department of Natural Resources; Adopts All Recommendations from Governors’ Task Force — March 16, 2018