BRADENTON, Fla. — The Atlanta City Council Monday approved issuing $145 million of new and refunding taxable bonds for Philips Arena, home to the National Basketball Association's Hawks and the Atlanta Thrashers, a National Hockey League expansion team.

New-money proceeds from the upcoming sale will be used to finance a variety of arena improvements, including replacement of a marquee, renovating restaurants and concession stands, replacing and upgrading the sound system, renovation of suites, converting the arena to a high-definition system, and work on heating, air conditioning, and lighting systems, according to Violet Travis Ricks, executive director of the Atlanta and Fulton County Recreation Authority.

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