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

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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.