{"id":350150,"date":"2026-06-25T16:49:18","date_gmt":"2026-06-25T16:49:18","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-tx\/350150\/"},"modified":"2026-06-25T16:49:18","modified_gmt":"2026-06-25T16:49:18","slug":"austin-texas-convention-center-bond-sale-greenlit-by-court","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-tx\/350150\/","title":{"rendered":"Austin, Texas, convention center bond sale greenlit by court"},"content":{"rendered":"

\"Construction Construction site for Austin’s convention center project, shown in March. A state court validated up to $1.35 billion of special tax revenue bonds for a bigger convention center. <\/p>\n

Rich Saskal<\/p>\n

Austin, Texas, is gearing up to sell up to $1.35 billion of special tax revenue bonds for a convention center after the debt was validated by a state court.<\/p>\n

Processing Content<\/p>\n

A final judgment issued last week by a Travis County District Court declared the Series 2026 bonds legal and valid and noted the judgment is a permanent injunction against any filing or proceeding contesting the bond’s validity or any expenditure related to the bonds.<\/p>\n

The timing for the bond issuance is being evaluated, according to a city spokesperson.<\/p>\n

Proceeds will help finance a $1.6 billion project to replace the city’s now-demolished convention center with a facility slated to open in 2029 that will increase rentable event space to 620,000 square feet from 365,000 square feet.\u00a0<\/p>\n

The bonds, which were approved by the Austin City Council<\/a> in May, are backed with revenue from certain city hotel occupancy taxes and incremental state tax revenue generated within a project finance zone the city established in 2024.<\/p>\n

Bank of America is the lead manager of the bond underwriting team consisting of co-senior manager Mesirow and co-managers Hilltop Securities and Loop Capital Markets. PFM Financial Advisors is the municipal advisor, Norton Rose Fulbright is bond counsel, and Orrick, Herrington & Sutcliffe is disclosure counsel.\u00a0<\/p>\n

In Dallas, where an expanded Kay Bailey Hutchison Convention Center is planned<\/a>, the city council on Wednesday rejected a proposal to redesign the project to address traffic concerns. The move would have increased the cost of the estimated $3.34 billion project, financed by $2.24 billion of revenue bonds and other sources, and delayed the facility’s expected 2030 opening. <\/p>\n","protected":false},"excerpt":{"rendered":"Construction site for Austin’s convention center project, shown in March. A state court validated up to $1.35 billion…\n","protected":false},"author":2,"featured_media":350151,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[3374,132,134,133,7622,22093,27],"class_list":["post-350150","post","type-post","status-publish","format-standard","has-post-thumbnail","category-austin","tag-attorneys","tag-austin","tag-austin-headlines","tag-austin-news","tag-litigation","tag-revenue-bonds","tag-texas"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/350150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=350150"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/350150\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/350151"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=350150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=350150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=350150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}