Lucas County has issued $155.4 million in bonds to construct a new arena, expand its convention center, and renovate a hotel, which county officials say is an “investment” in downtown Toledo.

Of the $155 million in debt, $142.8 million of the principal is outstanding. To date, the county has paid $31.3 million in interest on the bonds. Commissioner Pete Gerken, who has sat on the board during the projects, said the county takes on debt to improve the sense of place and promote economic activity.

“There are some communities that will never take any risk or any debt and be very perfunctory and only take out water and sewer debt. ... Water and sewer allows for things; vibrant counties build place,” Mr. Gerken said. “So it’s investment, not debt.”

Lance Woodworth, CEO of Destination Toledo,

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