The Milwaukee County Board earlier this month approved an $85 million general obligation bond issue that includes $6 million for road improvements related to the construction of a stadium for the Milwaukee Brewers baseball team.
Sylvan Leabman, county fiscal and budget administrator, said the capital improvement GOs probably would be issued in March. The bond sale is included in the $990 million budget the board approved for the fiscal year beginning Jan. 1.
Mr. Leabman said the county's total share of a publicly financed infrastructure package to accommodate a new stadium is $16.8 million. While the road improvement expenditures are planned for next year, the county's remaining $10.8 million is likely to be raised through a bond issue in fiscal 1993.
In addition to the county, the state has pledged $35 million and the city of Milwaukee has pledged $16 million for the infrastructure improvements. Transportation officials from both municipalities said their contributions would be taken from road improvement appropriations and are not tied to any specific bond issues.
In addition to the publicly financed infrastructure improvements, the Legislature earlier this year authorized a $35 million taxable bond issue by the Wisconsin Housing and Economic Development Agency to assist in the construction of the $140 million stadium. The bonds would be backed by stadium skybox revenues and the state's moral obligation, according to Richard Longebaugh, the agency's executive director.
He added that the bonds would be issued after the Brewers secure $105 million of private financing to build the stadium.
