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Taxpayer-Funded Stadium Scheme Gets Creative: "Bills Bonds" Offered to Fans

In yet another example of government largesse, the Erie County Comptroller's office is peddling "Bills Bonds," allowing die-hard Buffalo Bills fanatics - affectionately dubbed the "Bills Mafia"-to purchase pieces of a $110 million municipal bond issue aimed at financing part of the NFL team's lavish new stadium project.

Starting September 23rd, individuals and fans alike can get in on the action, snapping up bonds ahead of institutional investors' access beginning the following day. These taxpayer-backed securities will underwrite $250 million towards constructing a plush new arena, replete with upscale amenities and a snazzy canopy covering nearly two-thirds of seating capacity.

"It's an investment opportunity with an attitude," quipped Erie County Comptroller Kevin Hardwick, touting the unique arrangement. One wonders, if such bravado would fly, were taxpayers footing the entire bill rather than just half; surely, Mr. Hardwick wouldn't suggest private enterprise undertake similar risks sans guarantee?

Erie County delayed issuance until now to capitalize on what many expect to be a forthcoming drop in borrowing costs courtesy of our friends at the Fed (who'll meet mere days prior). As Hardwick candidly admitted, "Like everybody else, we're hoping that the Federal Reserve cuts the federal funds rate."

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