DALLAS - The Dallas City Council on Wednesday approved a team of six underwriters for the city's plans to issue debt for the purchase of a downtown parking lot as the site for a $300 million convention center hotel.

Dallas chief financial officer David Cook said if the council decides to move forward, the underwriters will be involved in the sale of approximately $40 million of certificates of obligation to finance the purchase price of the land. The underwriters would also assist the city in the development of a financing plan for the hotel and with bond issues needed to finance the public portion of the project.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.