The city of San Angelo passed an ordinance July 15 authorizing the issuance and sale of $41.6 million in taxable general obligation bonds to fund improvements to the city’s coliseum and fairgrounds. The bond issue was approved by voters in May.
The city is projecting approximately $73 million in annual economic impact from the enhancements. This funding is set aside to design, construct, renovate, and expand the Coliseum and related fairground facilities. They may also support economic development activities related to the site, such as private commercial and mixed-use development and associated landscaping.
The Fairgrounds host county fairs, trade shows, cultural festivals and youth programs. The Coliseum is a venue for rodeos, livestock shows, concerts, sporting events, graduations and civic ceremonies. Among the planned changes to the facility is the addition of over 5,000 seats, doubling its capacity. Restroom facilities and safety and accessibility upgrades are also being addressed.
The bonds are set at 5.41% to mature in 2045 and are backed by an annual ad valorem tax. Interest will be paid from the Interest and Sinking Fund semiannually beginning February 15, 2026.
Once the bonds are sold and closed, proceeds will be deposited into the 2025 Coliseum Bond Construction Fund. City officials anticipate permitting, procurement, bidding and selection and design finalization to be complete by late 2025 or early 2026, with groundbreaking to follow. Construction should take 18 to 36 months, according to city officials.
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