Council votes 4-1 to approve $260 million in tax anticipation notes for the Civic Center

On May 24, 2022 the council voted 4-1 to approve $260 million in tax anticipation notes for the expansion and renovation of the Civic Center.^[2][1][4]

City of Amarillo, as reported by NewsChannel10: The City said the notes would raise the property tax rate from 44 cents to 57 cents, about $9 more per month on a home appraised at $100,000.^[1]

ABC7 Amarillo: ABC7 reported that Cole Stanley, mayor at the time of the 2023 appeals ruling, was on the council when the plan was approved over his objections.^[5]

Mayor Ginger Nelson: Mayor Ginger Nelson said the project would reduce the Civic Center operating subsidy and that acting quickly to lock in the current interest rate would save money: "The longer we wait, this problem just continues to grow in cost."^[2]

The sources reviewed for this thread do not report an official City statement explaining why tax anticipation notes were chosen instead of a new bond election; the reported official statements address the project's cost, timing and benefits.^[1][2][3]

Accounts differ on whether the notes were sold.^[7][8]

NewsChannel10 (KFDA): NewsChannel10 reported that council members who supported the plan hoped private partners would help pay costs, for example through naming rights.^[3]

Minutes of the May 24, 2022 meeting record item 3K, a presentation and discussion of "key findings from the Garfield Public Private Pre-Development Final Report for the Amarillo Civic Center Complex Redevelopment" by Assistant City Manager Andrew Freeman, the chair of the P3 Committee, Assistant City Manager Laura Storrs and Facilities Director Jerry Danforth. The next item, 3L, was Ordinance No. 7985 authorizing "City of Amarillo, Texas, Tax Notes, Taxable Series 2022A," adopted 4-1 with Councilmember Cole Stanley voting no. ^[6]