Page 438 - Hurst FY19 Approved Budget

HOTEL/MOTEL TAX FUND

Certificates of Obligation were issued in 2008 to be utilized for the design and
construction of a regional meeting facility in Hurst Town Center. Ground was broken in
June 18, 2009 and the facility opened in September 2010. The meeting facility is a major
component of redevelopment efforts known as Transforming Hurst. Private developers
are planning the Town Center’s fifth hotel in the Town Center area. The Hotel/Motel
Fund continues to be devoted to tourism and art related projects within the City of
Hurst.

SCHEDULE OF HOTEL/MOTEL TAX BOND INDEBTEDNESS

PRINCIPAL AND INTEREST REQUIREMENTS
FISCAL YEAR 2018-2019

Outstanding Interest Due
Balance Principal Due 02-15-19 & Tatal P & I Due

Description 10-01-18 08-15-19 08-15-19 FY 18-19
Existing Debt

1. General Obligation Bond
Refunding Series 2016 4,920,000 170,000 190,900 360,900

Total 4,920,000 170,000 190,900 360,900

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