HUTCHINSON, Kan. — The bonds for the Sports Arena are less than two years away from retirement, if the Hutchinson City Finance Director is able to keep to her plan.
"We issued the bonds for this in two phases," Finance Director Angela Richard told Hutch Post in an email. "I am hoping to pay off $2,445,000 of the bonds in 2023, in addition to the normal payment. The bonds should be fully retired in mid-2024 and the sales tax should expire then."
The .35% sales tax was approved by voters in 2015 to fund the $29 million renovation project. The tax was expected to generate about $300,000 per year, but has been doing better than that recently due to inflation.
CLICK HERE to download the Hutch Post mobile app.
CLICK HERE to sign up for the daily Hutch Post email news update.