TITLE

In Kansas, a STAR Bond Program Is Reborn to Spread Development

AUTHOR(S)
Williamson, Richard
PUB. DATE
May 2003
SOURCE
Bond Buyer;5/27/2003, Vol. 344 Issue 31643, p37
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports on a bond program going statewide under a bill passed by the Kansas legislature. Bonds sold under the program called STAR for Sales Tax And Revenue previously required legislative approval before any town or county could use them. The tax-exempt bonds are repaid from revenues from hotel and car-rental taxes as well as sales-and-use taxes collected within the redevelopment project, or can be backed by a local government's general obligation pledge. The STAR bond program was originally designed to finance development of an amusement park called the Wonderful World of Oz in Johnson County, Kansas with $560 million of revenue bonds. When the plan to build Oz at the 9,065-acre site of the former Sunflower Army Ammunition Plant fell apart in 2001, the bond sale was scrapped. But the program took a detour to nearby Wyandotte County, where $24.3 million of STAR bonds were issued to help build the Kansas International Speedway, a major motor sport venue that has made the area the top tourist draw in Kansas.
ACCESSION #
9957324

 

Related Articles

  • KDFA is off to see the Wizard for theme park STAR bonds. Sanders, Lisa; Figler, Andrea // Bond Buyer;01/29/99, Vol. 327 Issue 30568, p4 

    Reports on the Kansas Development Finance Authority's (KDFA) preparation to sell debt issues for a Wizard of Oz theme park. Plan to offer sales tax accelerated revenue (STAR) bonds; Proposed structure and pricing of the STAR bonds; Importance of financing to the Oz project's structure; Possible...

  • Johnson County, Kan., Axes Oz-Themed Amusement Park. Victory, Darren // Bond Buyer;10/10/2001, Vol. 338 Issue 31240, p6 

    Reports on the cancellation of the construction of the Oz-themed amusement park in De Soto, Kansas by Johnson County Commission. Impact of the cancellation on the sale of tax-exempt revenue bond; Termination of a feasibility study for the amusement park; Amount allocated for the proposed project.

  • Voter Coaster. Albanese, Elizabeth // Bond Buyer;7/15/2003, Vol. 345 Issue 31677, p33 

    Announces that Hot Springs, Arkansas voters approved a $4.4 million revenue bond authorization to finance part of a $7 million-plus roller coaster for the Magic Springs and Crystal Falls amusement park in Arkansas in the first week of July 2003. Issuance of tax-exempt bonds for tourism-related...

  • Bonds to bring Dorothy home waver with Kansas bill. Sanders, Lisa // Bond Buyer;04/29/99, Vol. 328 Issue 30630, p30 

    Focuses on the proposed legislative measure that would allow the use of bond to finance the Wonderful World of Oz theme park in Kansas. Key provisions; Role of the state Development Finance Authority in the proposed bond issue; Technical amendments of the bill.

  • Amusement park bonds: Too scary, or worth the ride? Karchmer, Jennifer // Bond Buyer;03/16/99, Vol. 327 Issue 30599, p6 

    Examines amusement park bonds in the United States. Attractive area of investment because of high yield; Fund managers' finding of value in those accompanied by local voter support; Things to look for in amusement park bonds; Examples of such bonds.

  • Double first at luxury resort.  // Travel Trade Gazette UK & Ireland;11/17/2003, Issue 2590, p46 

    Features the development of various theme parks in Tunisia.

  • What's new.  // Business New Hampshire Magazine;Aug93, Vol. 10 Issue 8, p9 

    Reports on tourist attractions opened in the summer of 1993 in New Hampshire. Economic impact; Story Land in Glen; Strawberry Banke in Portsmouth; Santa's Village in Jefferson; Owners; Special features.

  • Disney with an Accent. Shillinglaw, James // Travel Agent;4/15/2002, Vol. 307 Issue 12, p92 

    Features the attractions at the Disneyland Paris Resort in France. Introduction of the Walt Disney Studios theme park; Services offered at the Production Courtyard; Lists of hotels within the resort.

  • FOLLOWING THE MOUSE. Cain, Sandi // Orange County Business Journal;05/14/2001, Vol. 24 Issue 20, p22 

    Reports on the impact of Walt Disney Co.'s California Adventure theme park on tourist attractions in Southern California. Attendance at Disney's theme park; Sea World's focus on local advertising; Universal Studios' introduction of a bus service for customers called Universal Studios Express.

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sign out of this library

Other Topics