Veto hasn’t derailed GOP’s 2008 convention

06/01/2007

By Herón Márquez Estrada,
Star Tribune
Last update: May 31, 2007


Despite a veto by Gov. Tim Pawlenty that erased a $39 million line of credit, there appears to be little chance that the 2008 Republican National Convention will leave the Twin Cities, people working on the planning said Thursday.
The line of credit, which was in the tax bill vetoed by Pawlenty on Wednesday, is supposed to be an insurance policy guaranteeing that there will be enough money on hand in a timely manner to finance the convention.

The Minneapolis-St. Paul 2008 Host Committee will need to raise about $60 million to put on the convention.

At least $3.9 million of that is supposed to be in the bank by July 15, according to the contract between the host committee and the Republican National Committee (RNC).

If the host committee is short, then the RNC would draw on the line of credit to make up the difference.

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