Breaking Down the Bonds: Proposition 7 - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Breaking Down the Bonds: Proposition 7

Source: KFDA Source: KFDA
AMARILLO, TX (KFDA) -

Proposition 7 involves renovating old and creating new athletic facilities for both youth and adult sports.

Here's what you'll see on the ballot:

PROPOSITION NUMBER 7

“SHALL the City Council of the City of Amarillo, Texas, be authorized to issue general obligation bonds of the City in the principal amount of $65,550,000 for permanent public improvements and public purposes, to wit: acquiring, constructing, improving, expanding, renovating and equipping municipal athletic facilities, including soccer, softball and baseball fields, gymnasium, basketball and aquatics facilities and the acquisition of land therefor; such bonds to mature serially or otherwise over a period not to exceed twenty-five (25) years from their date, to be issued and sold in one or more series at any price or prices and to bear interest at any rate or rates (fixed, floating, variable or otherwise) as shall be determined within the discretion of the City Council at the time of issuance or sale of the bonds; and whether ad valorem taxes shall be levied upon all taxable property in the City sufficient to pay the annual interest and provide a sinking fund to pay the bonds at maturity?”

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This $65,550,000 bond proposal tackles 10 projects, which are listed below:

You can see details for each of them on pages 80-89 of this document.

Most projects are renovations - adding new baseball, softball and multi-purpose fields to existing parks, including the Rick Klein, Martin Road, Southeast and Southwest complexes.

Some of these and other facilities have not been updated since they were build in the 1970s, when the population was about 75,000 people fewer than it is now.

And as that population grows, so does the demand for city sports leagues.

“You can imagine the increase, not only in youth athletics but adult athletics," said Rod Tweet, Director of Parks and Recreation for the City of Amarillo.

Tweet said the city's sports facilities are in serious need of new buildings, renovations and expansions.

“Larger restrooms, full service concessions, those type of things," said Tweet.

There's also the proposed expansion to the Tennis Center at John Stiff Park, and proposed construction of an indoor swimming complex at that same park.

Some of the funding for that swimming complex would come from AISD, which has already pledged several million dollar to that project.

If Proposition 7 does not pass, the department will turn to city council to find funding from different sources, and would have to revamp its plans.

“It may be capping of leagues, a changing of programs," said Tweet. "It may be a reduction in what we can provide."

Remember, all 7 propositions add up to $340 million worth of capital projects.

It’s up to the voters to decide which propositions pass.

It could be some, none or all that are approved.

Any property tax increase will reflect the total number of approved propositions, and could range from 2¢ to 4¢ per year for a 5 year period.

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