Delaware County Council has voted to float $30 million worth of county bonds for the Philadelphia Major League Soccer stadium being built on the Chester waterfront. The council approved the incurrence of $28.6 million of debt, and is due to be paid off over 30 years. The state is contributing $47 million. A county sports authority will own the $115 million soccer stadium, which is expected to open in April 2010, says the Philadelphia Daily News.
Vice Chairman Jack Whelan, said the county's investment is protected, because the county would keep the 18,500-seat stadium if the team relocates or the league folds.
"If they move the team during the first 10 years, they have to pay the county $10 million - and we still have the stadium," Whelan said.
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