Agreement to provide lender protections that allowed the Rangers to close on its financing .
The City of Arlington anticipates selling bonds for the Globe Life Field project in early 2018 . The City ’ s portion of the ballpark debt would 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 a year in rent for the ballpark paid by the Rangers . The venue taxes are also being used to pay down the City ’ s remaining debt on AT & T Stadium .
Breaking Ground
City and community leaders , along with the Texas Rangers , will celebrate the groundbreaking of the ballpark project on Thursday , September 28 .
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