The City of Pasadena has authorized $150 million renovations for the Rose Bowl to be financed with Build America Bonds.
Stanford University spent $90 million for a brand new 50,000 seat football stadium that is half empty much of the time. Is the recession crimping college football stadium attendance? What if a war should break out? Read about Stanford's experience with its football stadium here: https://www.insidebayarea.com/top-stories/ci_16712492
Not to worry: the Federal government will back the bonds some way or another.