· Related development
City issues $11,995,000 in hotel occupancy tax revenue bonds for the garage
The City issued Hotel Occupancy Tax Revenue Bonds, Taxable Series 2016, of $11,995,000 to construct and equip the downtown parking garage, with debt service paid from hotel occupancy tax and final maturity on August 15, 2043.[1]
What the sources say
- ✓ Verified
On April 13, 2016 the City issued $11,995,000 in Hotel Occupancy Tax Revenue Bonds, Taxable Series 2016, to construct and equip the downtown parking garage; debt service is paid from hotel occupancy tax, and the bonds mature by August 15, 2043. At September 30, 2025, $9,630,000 was outstanding after $2,365,000 had been retired.[1]
- Issued
- $11,995,000
- Outstanding 2025
- $9,630,000
- Retired
- $2,365,000
- ⚠ Sources differ
The FY2025 annual report gives different interest-rate ranges for the Series 2016 hotel occupancy tax bonds in different sections.
- ✓ Verified
The City's annual report says it anticipates using hotel occupancy tax to pay the Series 2016 (garage) and Series 2018 (ballpark) bonds; 3.5% of the 7% hotel tax goes to debt and Civic Center operating losses, 3% normally to the Convention and Visitors Bureau, and 0.5% to event subsidies.[1]