City of Fritch having problems making bond payments - KWES NewsWest 9 / Midland, Odessa, Big Spring, TX: newswest9.com |

City of Fritch having problems making bond payments

Posted: Updated:

The City of Fritch is having a hard time making bond payments.

The Interim City Manager, John Horst says the past three out of four bond payments have been defaulted, because there just isn't enough money. "We don't know exactly what all it was spent on at this point," Horst told us.

But one thing the Interim City Manager does know, is Fritch is in debt. "Not counting the defaulted bond payments, our total current in delinquent accounts payable is $433,000."

He also said the city owes $402,000 for a 2011 bond used to purchase water rights from the High Texas Water System.

Another $590,000 is also owed for a 2003 bond used to build a new sewer system.

Currently, the Texas Rangers are looking into where money from the city has gone.

  • Local HeadlinesMore>>

  • Argument Over Corn Dog Ends With Woman Behind Bars in Midland

    Argument Over Corn Dog Ends With Woman Behind Bars in Midland

    A Carrollton, Texas, woman is behind bars on charges after an argument over a corn dog. Midland Police were called out to business in the 1200 block of Lamesa Road after getting a call about a disturbance with weapons.
    A Carrollton, Texas, woman is behind bars on charges after an argument over a corn dog. Midland Police were called out to business in the 1200 block of Lamesa Road after getting a call about a disturbance with weapons.
  • Ferry Toll Hits 156 as Search Gets Tougher

    Ferry Toll Hits 156 as Search Gets Tougher

    Searchers have now recovered 156 bodies from the waters where a South Korean ferry sank a week ago. And relatives of the nearly 150 people still missing are pressing the government to quickly finish the recovery effort.
    Searchers have now recovered 156 bodies from the waters where a South Korean ferry sank a week ago. And relatives of the nearly 150 people still missing are pressing the government to quickly finish the recovery effort.
  • Official: Debris is Not Likely to be From Plane

    Official: Debris is Not Likely to be From Plane

    It looks like a piece of sheet metal with rivets -- but an official says the item that washed ashore in southwestern Australia isn't likely to have come from the missing Malaysian jet. Investigators are examining it for any possible link to the plane.
    It looks like a piece of sheet metal with rivets -- but an official says the item that washed ashore in southwestern Australia isn't likely to have come from the missing Malaysian jet. Investigators are examining it for any possible link to the plane.