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  • (Harris County) Sports Authority may need taxpayer rescue - Houston

    10/27/2009 1:14:54 PM PDT · by a fool in paradise · 23 replies · 1,119+ views
    Houston Chronicle ^ | Oct. 26, 2009, 11:07PM | BRADLEY OLSON
    Harris County taxpayers may have to inject up to $7 million a year into the Harris County-Houston Sports Authority for the next two years due to a financial crisis sparked by the souring of bonds used to build Minute Maid Park, Reliant Stadium and the Toyota Center. Facing balloon payments on $117 million in variable-rate bonds, the authority now is obliged to pay off the debt in five years instead of 23 years. That would require $24 million a year — a figure that, together with more than $30 million in additional obligations, would push the authority to the brink...