Cuyahoga County Council signed off on a plan Tuesday night to borrow $40.5 million for repairs at the Cavaliers’ Rocket Mortgage Fieldhouse.
The measure passed unanimously by a voice vote. The county will pay off the debt over time with revenue from a voter-approved "sin tax" tax on cigarettes and alcohol.
The new bond sale will reimburse the Cavs for work already completed or still underway at the fieldhouse. Council also approved refinancing for $40 million in bonds already sold for an earlier round of work at the fieldhouse and Progressive Field.