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Authorization for $1.35 Billion Convention Center Expansion Bonds

Original title: Approve an ordinance authorizing the issuance and sale of one or more series of City of Austin, Texas, Special Tax Revenue Bonds, Series 2026 (Convention Center Project), in a par amount not to exceed $1,350,000,000 to fund the Convention Center expansion project, in accordance with the parameters set out in the ordinance; authorizing related documents; approving the payment of costs of issuance; and rescinding Ordinance No. 20251023-009. Funding: Fiscal Year 2025-2026 debt service requirements and estimated annual administration fees for the paying agent/registrar for the proposed bond sale are included in the Operating Budget of the Convention Center Hotel Occupancy Tax Revenue Bond Redemption Fund.

Record date · May 21, 2026

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What This Bill Does

The City of Austin is authorizing the issuance of up to $1.35 billion in to fund the expansion of the city's convention center. This ordinance also approves the payment of issuance costs and replaces a previous ordinance regarding the project.

Why it matters

The city will take on up to $1.35 billion in debt to be repaid through hotel occupancy tax revenue, which impacts the city's long-term financial obligations and the scope of the convention center expansion project.

Who It Affects

Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.

Directly affected

Austin Taxpayers

The city is incurring up to $1.35 billion in debt that will be serviced through specific tax revenue funds.

Directly affected

Convention Center Hotel Occupancy Tax Revenue Bond Redemption Fund

This fund is designated as the source for debt service and administrative fee payments.

Key Facts

The City of Austin is authorized to issue up to $1,350,000,000 in Special Tax Revenue Bonds, Series 2026.
The bond proceeds are designated specifically for the Convention Center expansion project.
This ordinance rescinds the previous Ordinance No. 20251023-009.
Debt service and administrative fees for the bonds will be paid from the Convention Center Hotel Occupancy Tax Revenue Bond Redemption Fund.

Show all 6 facts

The ordinance authorizes the execution of related legal documents and the payment of costs associated with issuing the bonds.
The bonds may be issued in one or more series.

Frequently Asked Questions

How will the city pay back this $1.35 billion?

The and administrative fees are funded through the Convention Center Hotel Occupancy Tax Revenue Bond Redemption Fund.

What is the purpose of this ordinance?

It authorizes the city to issue bonds to fund the expansion of the Austin Convention Center and replaces a previous ordinance related to the project.

What else do you want to know?

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Full breakdown

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