"Indianapolis residents will be paying for the RCA Dome for more than a decade after the Indianapolis Colts leave their longtime home for a new stadium that will open in 2008.
The city still owes about $75 million in principal on bonds related to the construction of the RCA Dome, which opened in 1984.
The debt was supposed to be paid off by 2013, but because it has been refinanced several times and its term extended, those bonds won't be retired until 2021 — 13 years after the dome is razed and the Colts have moved into their new digs at nearby Lucas Oil Stadium."
Monday, October 30, 2006
City still owes $75 million on soon-to-be demolished RCA Dome
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