Page 117 - Hurst Adopted FY22 Budget

APPROVED FISCAL YEAR 2022 BUDGET

schedule of hotel/motel bond indebtedness

Principal and Interest Requirements

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 to the Conference Center has helped increase events. Additionally, a Candlewood Suites
opened in 2020. The Hotel/Motel Fund continues to be devoted to tourism and art related
projects within the City of Hurst.

Outstanding Interest Total
Balance Principal due 02-15-22 P & I due
Description 10-01-21 due 08-15-22 & 08-15-22 FY 21-22

1 General Obligation Bond
Refunding
Series 2016 4,385,000 190,000 173,200 363,200

Total 4,385,000 190,000 173,200 363,200

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