Fort Worth has never had a mechanism in place to allow residents to buy city bonds. Now, with the construction of the Dickies Arena, that opportunity exists.
On June 19, Fort Worth and Texas residents can invest in Series 2017A and Series 2017B bonds before they are offered to institutional investors the next day.
Residents will be allowed to buy bonds in $5,000 increments, up to $500,000 each. Buyers will be able to select a date when they want their investment paid back, starting as early as March 2021, and decide if they want to invest in taxable or tax-exempt bonds.
Fort Worth and Texas residents will have priority on June 19, but they’ll be placed among other investors on the second day.
The City Council authorized the sale of $240 million in bonds. Until now, city bonds were only offered to institutional investors.
The city is issuing debt to cover its portion of construction costs related to the Dickies Arena. The city’s portion is capped at $225 million, with the remaining construction costs paid by Event Facilities Fort Worth, a private partner that is constructing and will operate the new arena.
Read a prospectus online.
To establish an account to purchase bonds, or to learn more, call one of the following companies:
- J.P. Morgan — 855-231-8873
- Citigroup — 855-644-7252
- Wells Fargo Securities — 866-287-3221
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Human Relations Commission: 5:30 p.m. July 3, 2017; Hazel Harvey Peace Center for Neighborhoods Room 201 AB, 818 Missouri Ave.
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