JPA Proposal For Early Payment of Arena Debt

Lincoln, Neb. -- The members of the West Haymarket Joint Public Agency announced a plan to save taxpayer dollars through early payment of the bonds issued for the Pinnacle Bank Arena.

The plan shows the bonds could be paid off before the final due date in 35 years.

The $353.5 million in bond rates have an interest rate of 3.786 percent. Compared to the projected interest rate of 5 percent, the interest savings until 2021 is $4.3 million annually, and the approximate savings over the life of the bonds is $100 million.

City leaders are also looking at the occupation tax and how soon that could end.

The proposed financial model will be on the JPA's agenda for the Dec. 19 meeting for public comment and adoption.

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