Wednesday, February 1, 2012

City of Greensboro Information Request: Please explain the relationship between the following numbers

...on Dec. 1, the city retired all $56.4 million in debt
for coliseum complex improvements, some dating to 1991.

Don Patterson

"In December 2011,
approximately $3.0 million in Coliseum Certificates of Participation
were retired (This included the final maturity on Arena Expansion debt issued in 1991.).

Wasn't it reported to be about $56.4 or $48 million in retired debt?

Based on this and the estimated debt capacity
of the net Hotel/Motel Room Occupancy Tax revenue,
the City can issue up to $15.0 million in COPs in FY 11-12
with an additional $15.0 million available in another 3 to 4 years.

Greensboro Coliseum Complex Proposed Capital Improvements
Council Information Meetings
January 2012

The [Coliseum] recently retired $48 million in bond debt.

GN&R Editorial Board, Allen, Doug and Robin

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