Noah's Ark park project at risk due to lack of bond buyers

Posted | Contributed by Jeff

A Northern Kentucky theme park to be built around a full-scale replica of Noah’s Ark may sink unless investors purchase about $29 million in unrated municipal bonds by Feb. 6. Even though $26.5 million of securities have been sold, the project needs to sell at least $55 million in total to avoid triggering a redemption of all the bonds, Ken Ham, the nonprofit’s president, said in an email to supporters Thursday. Without the proceeds, construction funding will fall short, he said.