The cancellation of the remainder of the major league baseball season last week will not affect the payment of bonds issued nearly four years ago for Cleveland's new stadium, according to an executive with the stadium's nonprofit developer.

Timothy Offtermatt, chief financial officer of the Gateway Economic Development Corp., said $31 million of the $146.7 million of revenue bonds sold by Gateway in December 1990 are backed by rental payments from the Cleveland Indians baseball team that are derived from skybox and box seat ticket sales.

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