From: "Saved by Windows Internet Explorer 8" Subject: KERA: Dallas To Go to Market With Convention Hotel Bonds (2009-08-17) Date: Thu, 20 Aug 2009 14:39:59 -0500 MIME-Version: 1.0 Content-Type: multipart/related; type="text/html"; boundary="----=_NextPart_000_0000_01CA21A4.18544710" X-MimeOLE: Produced By Microsoft MimeOLE V6.0.6001.18049 This is a multi-part message in MIME format. ------=_NextPart_000_0000_01CA21A4.18544710 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Content-Location: http://www.publicbroadcasting.net/kera/news.newsmain/article/8/0/1543696/Arts..and..Culture/Dallas.To.Go.to.Market.With.Convention.Hotel.Bonds. KERA: Dallas To Go to Market With Convention Hotel = Bonds (2009-08-17)
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Dallas To = Go to=20 Market With Convention Hotel Bonds
BJ Austin, KERA News (2009-08-17)
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Convention Center = Hotel Conceptual=20 Drawing
DALLAS,=20 TX (KERA) = -

This week, Dallas intends to place = more than=20 500 million dollars in bonds on the market for the downtown Convention = Center=20 hotel. KERA's BJ Austin says the Mayor believes the timing it right. One = local=20 economist is not so sure.

Mayor Tom Leppert says city financial = experts=20 have been keeping close tabs on the municipal bond market, and have = picked the=20 right moment to price the bonds - aiming to close the 514 million dollar = sale=20 next month.

University of North Texas economist Dr. Terry Clower = says=20 bond investors and rating agencies are going to look very closely at the = city's=20 financial health - and the wisdom of issuing a large amount of debt = right now.=20 He says the city's sales and property tax revenues have faltered, and = 900 city=20 employees were just laid off to help plug a 190 million dollar hole in = the=20 budget. But, Clower says the recession and federal recovery efforts MAY = work in=20 the city's favor.

Clower: If banks are going to, in the second = half of=20 this year, start buying into municipal bonds and there is even talk = about the=20 Treasury or the Federal Reserve Bank, for one, buying into the municipal = bond=20 markets to help support government operations at the local level, then = certainly=20 that bodes well for the city to be able to place these.

Mayor = Leppert=20 calls the thousand-room, downtown hotel an economic engine for Dallas.=20

Email BJ=20 Austin

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