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Greenville County Council advances arena-related bond measures, approves hospitality tax revenue ordinance at second reading
Summary
Council approved second-reading measures authorizing the Greenville Arena District to issue up to $40 million in general obligation bonds, amended an intergovernmental escrow agreement, and cleared a $100 million hospitality tax revenue bond ordinance after staff said the bonds are secured by hospitality and accommodations taxes.
Greenville County Council on Feb. 3 advanced several financing measures tied to the Greenville Arena District, approving a second-reading ordinance that finds the Arena District may issue up to $40,000,000 in general obligation bonds and approving related amendments to intergovernmental and escrow agreements.
Vice Chairman Bradley moved for approval at second reading of the bonds and described the Arena District as a county-owned asset that returns revenue to the…
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