Springfield museum finishes bond deal to secure future

SPRINGFIELD, Mo. (AP) -- A new debt plan that doesn't require the Wonders of Wildlife Museum to make principal payments until 2013 will result in a "huge, huge savings" for the outdoors attraction, its director said.

"We needed that (time) to get a breather and get the attendance up," said Max Peterson, the museum's interim director.

Also known as the American National Fish and Wildlife Museum, the attraction has struggled because of lower-than-expected attendance and revenue.

The museum formally issued $11 million in new debt on Tuesday that takes the place of $36.19 million in bond debt that financed the facility's construction. Those construction bonds were bought back by the museum for 60 cents on the dollar, a purchased funded by a donation from Bass Pro founder John L. Morris, his companies and other donors.

When the hunting, fishing, and conservation-themed museum opened in 2001, it expected to draw about 900,000 visitors a year. In its first full year, the museum drew less than half that; last year, attendance dropped to 252,000.