Posting Language
Title
Approve an ordinance authorizing the issuance and sale of one or more series of City of Austin, Texas, Special Tax Revenue Bonds, Series 2025 (Convention Center Project), in a par amount not to exceed $650,000,000 to fund the Convention Center expansion project, in accordance with the parameters set out in the ordinance; authorizing related documents; approving the payment of costs of issuance; and providing that the issuance and sale be accomplished by October 23, 2026. Funding: Fiscal Year 2026 debt service requirements and estimated annual administration fees for the paying agent/registrar for the proposed bond sale are included in the Fiscal Year 2026 Operating Budget of the Convention Center Hotel Occupancy Tax Revenue Bond Redemption Fund.
De
Lead Department
Austin Financial Services
Fiscal Note
Fiscal Year 2026 debt service requirements and estimated annual administration fees for the paying agent/registrar for the proposed bond sale are included in the Fiscal Year 2026 Operating Budget of the Convention Center Hotel Occupancy Tax Revenue Bond Redemption Fund.
For More Information:
Belinda Weaver, Treasurer, 512-974-7885
Additional Backup Information:
The Convention Center is critical to Austin's tourism, hospitality, culture, and small business economy. It brings hundreds of thousands of visitors to Austin for conventions, festivals, and live events. The idea of a Convention Center expansion has been studied and contemplated for nearly a decade, beginning in 2015 with the release of the Convention Center Master Plan. The City and community spent years in thoughtful deliberation, evaluating the project through numerous studies, a Council-appointed task force charged with evaluating an expansion, and an updated Master Plan with accompanying economic impact report, culminating in the City Council approving an increase to the City's Hotel Occupancy Tax (HOT) rate in support of an expansion in 2019. The new, larger Austin Conven...
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