Friday P.M. Report

State of Minnesota opens $600M credit line with U.S Bank, other lenders: Minnesota’s state government last week took out a $600 million line of credit with a group of four banks led by U.S. Bancorp. Plans for the line of credit were disclosed in July. The state sought the credit in order to ease any potential cash crunch, should there be an issue with the timing of expenses and revenue. The line of credit will cost the state about $1.6 million in fees even if it doesn’t need to borrow any funds, according to a report based on an open records request by the AP. Read full story

Medtronic’s Twin Cities Marathon deal to run 3 more years: Medtronics will remain title sponsor for the Twin Cities Marathon for at least three more years. Fridley-based medical-device manufacturer Medtronic (NYSE: MDT) and marathon race organizer, Twin Cities in Motion, announced at a pre-race press conference today that they’ve signed a letter of intent for Medtronic’s sponsorship through at least the 2013 race. Read full story

Wally the Beerman, others cited for serving minors at Target Field: Wally the Beerman and seven other beer vendors at Target Field were cited Thursday night for serving underage drinkers, according to media reports. Wally, whose real name is Walter McNeil, allegedly served beer to a 19-year-old male before the start of the game between the Minnesota Twins and the Toronto Blue Jays, according to KSTP-TV, Channel 5. Read full story

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