Municpal Bonds Discounted For Kansas City Downtown Stadium

Tonight we want to consider an important look at local history and how BILLIONAIRES might not really need to tax local plebs given other options on the table . . . CAVEAT . . . True, muni-bonds increase the civic debt load BUT don't hurt the plebs nearly as much as a regressive sales tax.

Here's a perspective from a trusted Kansas City tax fighter that deserve a peek:

Preston Smith On Municipal Stadium History:

In 1967, Kansas City wanted a new baseball stadium. The downtown Municipal Stadium was small – It seated only 35,000.  In 1967, a vote approved a $102M bond to build the Truman Sports Complex—not just a new baseball field but also Arrowhead. It was designed so that it would have been possible to have a sliding roof that could cover either field. In 1968, Charlie Finley, the owner of the Kansas City A’s, moved the team to Oakland. Arrowhead was completed in time for the 1972 season; Royals (now Kauffman) Stadium opened in 1973.

What can be learned here:

- A smaller downtown stadium was torn down in favor of a larger stadium built at the Truman Complex. Municipal Stadium was almost exactly the same size of the proposed new ballpark.
- Public municipal bonds were issued to pay for both stadiums. Not a penny of taxes was used. The bonds were a short-term public debt that was repaid.
- Even after approving a new stadium, the baseball owner still left town.
- Design promises were not kept. What about that roof?
- If bonds could be used to fund the construction of two stadiums, why can’t they be used today?

############

Read more via www.TonysKansasCity.com links . . .

KC Q Tackles History of Arrowhead, Kauffman Stadiums. See How They Set the Standard

Municipal Stadium, opened in 1923 at Brooklyn Avenue and 22nd Street, was the original home for the Chiefs and baseball's Athletics. But as part of the NFL-AFL merger set for 1970, teams were required to have 50,000-seat stadiums. Municipal held about 40,000.

The Story of Municipal Stadium - KC Yesterday

Discover the fascinating history of Kansas City's Municipal Stadium, from its early days as Muehlebach Field to its era as a Major League Baseball & NFL hub. This story covers legendary teams like the Monarchs, Athletics, and Chiefs, iconic events, and the enduring impact on Kansas City.

Developing . . .