COA Issues Certificates of Obligations For Sports Complex Improvement

The City of Amarillo issued a series of Combination Tax and Revenue Certificates of Obligations to ensure funds for local sports complexes.

CO Bonds are a way for payments of bonds by the levy of an ad valorem tax upon for all taxable property within the City and a limited pledge of the net revenues derived from the operation of the City’s waterworks and sewer system.

Laura Storrs, Assistant City Manager for the City of Amarillo about the bonds.

The bonds are set at $7 million dollars that will be for acquiring, constructing and improving and installing lighting for park and recreational facilities.