War Worries Cast Shadow Over Florida Convention Center Sale

Sigo, Shelly
April 2003
Bond Buyer;4/3/2003, Vol. 344 Issue 31607, p1
Trade Publication
In Osceola County, Florida., officials are concerned about how the war in Iraq could impact the county's planned sale of $325 million of tax-exempt revenue bonds to build a convention center and associated 800-room hotel. The new convention center and hotel project in Osceola, for which bonds are slated to be sold in August, 2003, is adjacent to Orange County, where one of the largest convention centers in the country is being expanded. Under terms of the agreement, the county will pledge a portion of its tourist development tax to the $98.5 million convention center with capitalized interest and hotel revenues pledged toward the debt used for the hotel. Tim Hemphill, executive director of the Kissimmee-St. Cloud Convention & Visitors Bureau that serves Osceola County, said with tourist tax collections up recently, officials are cautiously optimistic the trend will continue so the convention center can move forward.


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