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Northlake Council previews COs, GOs and hotel-occupancy revenue bond plan to fund Star Center and infrastructure
Summary
Town staff outlined a three-pronged borrowing plan using certificates of obligation, previously approved general obligation bonds and a hotel-occupancy-tax revenue bond to fund the Star Center and related infrastructure.
Town staff on Thursday outlined a three-track borrowing plan to finance the Star Center and several public-infrastructure projects, including a certificates of obligation (CO) tranche, previously approved general obligation (GO) debt and a revenue bond supported by hotel-occupancy tax.
Drew, a town staff member, told the council the COs would require publication of two notices of intent but would not by themselves commit the town to issuing the debt. He said council would be asked to approve issuance on March 13 and that funds for…
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