San Fran OKs $508M Financing For Expanded Convention Hall

Law360, New York (February 12, 2013, 6:36 PM EST) -- The San Francisco board of supervisors officially passed an ordinance to fund an expansion project of its convention hall, the George R. Moscone Convention Center, with $507.8 million of commercial debt financing on Tuesday.

Unanimously approving the measures on a second reading, the council issued certificates of participation to cover the center’s expansion projects. The certificates are a financing instrument that allows investors to buy up a share of the center’s lease revenues, rather than the bond secured by those revenues.

The certificates were first approved...
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