Page 295 - Hurst Budget FY21

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
opened in during 2020. 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 2020-2021

Outstanding Interest Total
Balance Principal due 02-15-21 P & I due
Description 10-01-20 due 08-15-21 & 08-15-21 FY 20 - 21

EXISTING DEBT

1 General Obligation Bond
Refunding 4,570,000 185,000 176,900 361,900
Series 2016

Total 4,570,000 185,000 176,900 361,900

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