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City: We'll pay off Cowboys Stadium bonds early

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News,Nation

DALLAS (AP) — Officials in Arlington say they're on track to pay off bonds for Cowboys Stadium three years ahead of schedule.

Arlington officials tell The Dallas Morning News (http://dallasne.ws/XFXiRY ) that it set a record during the 2011-12 fiscal year of $50.5 million in sales tax revenue. That doesn't include proceeds of a half-cent of sales tax for Cowboys Stadium or a quarter-cent for street maintenance and repairs.

The city between Dallas and Fort Worth agreed in 2004 to spend $325 million in bonds for the new stadium, which opened in 2009.

Assistant director of fiscal policy Mike Finley says the city is on track to pay off the 30-year bonds three years early.

One critic of the original bond package says he's still skeptical of whether Cowboys Stadium helped local residents.

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Information from: The Dallas Morning News, http://www.dallasnews.com

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