FINANCE
FACTS & FIGURES
Over the past 12 months, the City of Arlington has
reimbursed the Texas Rangers for $461.1 million in
Globe Life Field construction work, which is nearly all
of the voter-approved $500 million public contribution.
The City successfully sold $465.4 million in bonds
last year to fully fund the public contribution to the
Rangers’ $1.2 billion climate-controlled ballpark, which
opens next March. The City expects to make a final
reimbursement to the Rangers in either April or May
2019.
The City’s bonds will be repaid over 30 years with
revenue generated by three existing venue taxes – a
half-cent sales tax, a 2 percent hotel occupancy tax and
a 5 percent vehicle rental tax, along with the $2 million
a year in rent for the ballpark that will be paid by the
Texas Rangers beginning in 2020. These venue taxes
are also being used to pay down the City’s remaining
debt on AT&T Stadium, home of the Cowboys.
Arlington’s contribution to the ballpark project is fully
funded at $500 million, as the City received a premium
for the tax-exempt bonds.
CITY FINANCING
14
March 2018 $13,003,829
April 2018 $54,727,616
May 2018 $24,213,666
June 2018 $26,258,787
July 2018 $30,812,005
August 2018 $29,587,748
September 2018 $31,914,111
October 2018 $29,665,519
November 2018 $34,071,620
December 2018 $45,017,205
January 2019 $45,025,953
February 2019 $44,297,066
March 2019 $52,529,215