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<blockquote data-quote="TexasBred" data-source="post: 1495421" data-attributes="member: 6897"><p>ARLINGTON </p><p><strong><u>The city is paying down its debt on AT&T Stadium faster than expected — seven years ahead of schedule — and if that trend continues, it could save taxpayers millions of dollars.</u></strong></p><p><strong><u></u></strong></p><p>Thanks to higher-than-anticipated sales, hotel and car rental tax revenue, Arlington could ultimately pay off the 30-year stadium bond — about $300 million, plus interest — 10 years early, according to city treasurer Ethan Klos.</p><p></p><p>About 10 years ago, Arlington sold nearly $298 million in bonds to help publicly finance the $1.2 billion, 80,000-seat stadium and bring the Dallas Cowboys to town. The stadium opened in 2009 and has since hosted dozens of high-profile events, including Super Bowl XLV, the NBA All-Star Game, the Final Four and the inaugural College Football Playoff national championship game earlier this year, which has helped draw millions of visitors and international attention to the city.</p><p></p><p><strong><u>Those stadium bonds are repaid through a half-cent sales tax, a 2 percent hotel occupancy tax and a 5 percent car rental tax approved by voters in 2004, in addition to $2 million a year the Cowboys pay to rent the city-owned stadium and $500,000 a year from the team's naming rights deal with AT&T.</u></strong></p></blockquote><p></p>
[QUOTE="TexasBred, post: 1495421, member: 6897"] ARLINGTON [b][u]The city is paying down its debt on AT&T Stadium faster than expected — seven years ahead of schedule — and if that trend continues, it could save taxpayers millions of dollars. [/u][/b] Thanks to higher-than-anticipated sales, hotel and car rental tax revenue, Arlington could ultimately pay off the 30-year stadium bond — about $300 million, plus interest — 10 years early, according to city treasurer Ethan Klos. About 10 years ago, Arlington sold nearly $298 million in bonds to help publicly finance the $1.2 billion, 80,000-seat stadium and bring the Dallas Cowboys to town. The stadium opened in 2009 and has since hosted dozens of high-profile events, including Super Bowl XLV, the NBA All-Star Game, the Final Four and the inaugural College Football Playoff national championship game earlier this year, which has helped draw millions of visitors and international attention to the city. [b][u]Those stadium bonds are repaid through a half-cent sales tax, a 2 percent hotel occupancy tax and a 5 percent car rental tax approved by voters in 2004, in addition to $2 million a year the Cowboys pay to rent the city-owned stadium and $500,000 a year from the team’s naming rights deal with AT&T.[/u][/b] [/QUOTE]
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