PILLAR: Fiscally Sound
AGENDA DATE: April 8, 2026
COUNCIL DISTRICT(S): N/A
DEPARTMENT: City Controller's Office
PRIORITY: N/A
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SUBJECT
Title
An ordinance amending (1) that certain Second Supplemental Indenture authorizing the City of Dallas Senior Lien Special Tax Revenue Notes, Series A (Kay Bailey Hutchison Convention Center Dallas Venue Project); (2) the Taxable Note Purchase Agreement with JP Morgan Chase Bank, N.A. and Tax-Exempt Note Purchase Agreement with DNT Asset Trust, a wholly owned affiliate of JPMorgan Chase Bank, N.A., relating to such Notes; and (3) resolving other matters related thereto - Not to exceed $1,928,500 - Financing: 2025 Senior Lien Special Tax Revenue Notes Fund ($628,500, upfront closing costs plus annual fees of $1,300,000 for a total cost of $1,928,500; with additional interest costs as accrued) (subject to annual appropriations)
*In alignment with Kay Bailey Hutchison Convention Center Plan.
Body
BACKGROUND
This item authorizes the First Amendment to the Second Supplemental Indenture of Trust authorizing the City of Dallas Senior Lien Special Tax Revenue Notes, Series A (Kay Bailey Hutchison Convention Center Dallas Venue Project) (the "Notes"), and the First Amendments to the Taxable Note Purchase Agreement and Tax-Exempt Note Purchase Agreement, in connection with the extension of the Notes from June 30, 2026 to December 15, 2026.
In coordination with the Kay Bailey Hutchison Convention Center Dallas (KBHCCD) Master Plan (the "Master Plan"), the City previously established a revenue financing system under its Master Indenture of Trust authorizing City of Dallas, Texas Special Tax and Revenue Obligations, (Kay Bailey Hutchison Convention Center Dallas Venue Project), dated as of October 3, 2023 (the "Master Indenture"). The primary source of funds for the Master Plan is revenue bonds backed by pledged revenue, including local Hotel Occupancy Tax (HOT)...
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