Page 339 - Hurst FY20 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 on June 18, 2009 and the facility opened in
September 2010. The meeting facility is a major component of redevelopment efforts collectively known as
Transforming Hurst. Hurst Town Center hotels are seeing increased occupancy levels associated with the
maturing meeting facility and the recent opening of the Hilton Garden Inn attached ot the Conference Center
has helped icnrease events. Additionally, a Candlewood Suites is expceted to open in late 2019The
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 2019-2020

Outstanding Interest Total
Balance Principal due 02-15-20 P & I due
Description 10-01-19 due 08-15-20 & 08-15-20 FY 19 - 20

EXISTING DEBT
1 General Obligation Bond
Refunding 4,750,000 180,000 184,100 364,100
Series 2016

Total 4,750,000 180,000 184,100 364,100

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