Erie County is offering Buffalo Bills fans and investors a rare opportunity.
For one day only, people will be able to purchase tax-exempt municipal bonds on the retail market to help the county finance its $250 million obligation of Bills stadium construction.
The county is paying for half that bill in cash, while the other half will be covered by these bonds.
The bonds, dubbed “Bills Bonds” by Erie County Executive Mark Poloncarz on X, will allow people to invest a minimum of $5,000, which will eventually be returned with interest. That interest percentage, however, won't be disclosed until the day of sale.
"You have to set up an account with one of the agencies that are selling the bonds such as J.P. Morgan, Jeffries, but you can actually own a bond that is used to pay for the construction of the stadium by Erie County and you get paid interest,” said Poloncarz. “[It's a] 25-year or 30-year bond, so you get paid interest for a $5,000 investment for 25 to 30 years probably in the 3-5% range, so you can always have a steady source of income. The more bonds you buy, the more interest you generate in the long run."
The bonds will be available to purchase while supplies last on buybillsbonds.com, which will become active on Sept. 23.