Hodgetown 4 Point 5 Million Dollar Bond

Amarillo City Council has decided to take on 4 point 5 million dollars in debt to bring Hodgetown up to new major league standards.

Laura Storrs, Amarillo’s Chief Financial Officer says the city’s Hotel occupancy tax will be used to pay it off.

Areas that are included in the improvements include locker rooms, dining and storage, and expanding the coverage of netting to protect fans from fly balls.

The Amarillo Sod Poodles and Convention and Visitors Bureau will also contribute and no property tax dollars will be needed to pay off the debt.

The handling of bond sales will be handled by Specialized Public Financing and the interest payment of 5 points 4 percent to eight investors.

The bonds will mature in 2043