The sale of nearly $80 million in bonds to finance the biggest part of the new Chattanooga Lookouts stadium is moving ahead with funds to be available by the end of the month, officials said Monday.
A preliminary official statement was published about the planned issuance of the bonds, Jermaine Freeman, chief of staff for Chattanooga Mayor Tim Kelly, said in an interview.
“It’s significant because the publishing of the (statement) alerts the markets that the sports authority of the city and (Hamilton) county have an imminent bond sale,” he said.
Javaid Majid, the city’s chief financial officer, said there will be an investor presentation, a pricing of the bonds and then a closing period.