ORCHARD PARK, N.Y. — Erie County is giving Bills fans the chance to invest in the new stadium construction project, something that has never been done before, and it won't come cheap.
Every year the county issues bonds to pay for county infrastructure projects and this year that includes the new stadium project.
But, before those bonds hit the market for banks and other big investors to buy up, the county has carved out one day for fans to jump the line on September 23. Fans, if they want to can invest at least $5,000 to buy one of these bonds and have a little story to tell the family about how you helped pay for the Bills new stadium. Of course, that's on top of the portion we're all paying with our tax dollars... although in this case there's potential to earn some interest.
"So rather than let it happen and people find out about it after the fact, and say 'man, I would have liked to have gotten one of those things' 'gotten in on that', I’m letting them know about a month in advance," said Erie County Comptroller Kevin Hardwick. "I’m letting people know they can talk to a broker. They can go to BuyBillsBonds.com, and they can do their due diligence and see if they’re interested."
Now as with any investment, there are risks to buying municipal bonds. Hardwick was careful to note that because bond sales are strictly regulated by the Securities and Exchange Commission (SEC), he said they've been working on this for the better part of a year because of all the legal hoops involved.
2 On Your Side's Rob Hackford asked Hardwick if investors will get anything special like those old, embossed bond certificates, but he said. much to his disappointment .that won't be the case. Although you can always frame the digital confirmation you'll get if you invest.
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