Cabela's uncertainty creates funding challenges for Sidney

SIDNEY, Neb. (AP) - Uncertainty about the future of Cabela’s is creating financial challenges for a new aquatic center under construction in Sidney.

The Sidney Sun-Telegraph reports (https://bit.ly/1RMOcO6 ) that the city’s bonding agency, Ameritas Investment Corp., has declined to sell bonds to finance the $5.4 million aquatic center under construction.

Interim City Manager Geri Anthony says the agency cited concerns about whether the retail giant will remain headquartered in Sidney.

Mayor Mark Nienheuser says U.S. Bank in Lincoln had agreed to underwrite a $4 million loan via a 15-year note at an interest rate of 2.9 percent. Under the terms of the loan, the city would make annual payments of about $381,000 a year and a balloon payment of $1.8 million in 2023.

___

Information from: Sidney Sun-Telegraph, https://www.suntelegraph.com