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.
- Diversion Authority Reviews Updated Costs; Project Costs Including Plan B Expected to be $2.75 Billion — December 3, 2018 https://www.fmdiversion.com/wp-content/uploads/2018/12/2018_1203_FinancialEstiamte_Board_Page_2-231×300.jpg
- U.S. Army Corps includes $20M for FM Area Diversion Project in its FY2017 Work Plan — May 25, 2017
- Diversion Authority Officially Submits Plan B to Minnesota Department of Natural Resources; Adopts All Recommendations from Governors’ Task Force — March 16, 2018
- Burgum, Dayton agree to form collaborative working group to try to find path forward for F-M Area Diversion Project — October 4, 2017