Arlington Successfully Sells
The City of Arlington successfully sold $465.4 million in
bonds on Wednesday, March 7, to fund the voter-ap-
proved contribution to the Texas Rangers $1.1 billion
retractable-roof ballpark project.
Arlington’s contribution is fully funded at $500 million, as
the City is receiving premiums for the tax-exempt bonds.
A premium is what an investor is willing to pay over par
value to receive a higher interest rate.
Overall, 87 investors put in a total of $1.9 billion in orders
for bonds, more than four times the amount of the
available bonds to sell. This is indicative of a belief in the
City’s credit and Arlington’s history of successfully fund-
ing and managing these types of public-private projects.
Because of this high demand, the City was able to lower
the interest rate by as many as 10 basis points on some
of the maturities.
The Rangers’ lease on the future Globe Life Field, set to
open in 2020, runs through 2054.
Arlington’s portion of the ballpark debt will be repaid
with revenue generated by three existing venue taxes – a
half-cent sales tax, a 2 percent hotel occupancy tax and
a 5 percent vehicle rental tax, along with the $2 million
t the Park with Chuck is an all-new series
on MyArlingtonTV offering Rangers fans
a behind-the-scenes look at Globe Life
Field construction, fan events and the progress
being made at the Texas Live! entertainment
complex. The show is hosted by Chuck
Morgan, the team’s Executive Vice President of
Ballpark Entertainment and Productions and
Public Address Announcer.
Current episodes include:
• At The Park With Chuck: Three
Generations of the Jackson Family
• At The Park With Chuck: Globe Life
Field Site Visit
• At The Park With Chuck: Rangers
Fan Fest with the Sloan Family
HKS, Inc., the lead architectural firm for the new
Globe Life Park, had the foresight to reach out
to the community for input in the design of this
beautiful new stadium. In doing so, they wanted
to invite Rangers fans who have disabilities to offer
their input, so they reached out to Accessology,
the company hired as the ADA accessibility
consultants for the project. Kristi Avalos, President
of Accessology, has orchestrated dozens of
advisory boards like this one and serves as the
Chair of this board.
The Texas Ranger Stadium ADA Advisory Board
is made up of people who are either disabled or
represent the disability community. Each one has
their own unique perspective and experience in
navigating high profile events.