City Nabs Favorable Interest Rate For Convention-Center Hotel Bonds

Dallas has taken another big step toward construction of its convention-center hotel. According to a news release from Mayor Tom Leppert’s office, the city’s just nailed down “buyer commitments” for nearly $480 million in revenue bonds for the hotel at an average interest rate of 4.69 percent. That’s good news because that rate is well below the 5.5 percent cap set by the city council–meaning the city will be having to pay out less dough.

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