NEWS AND PRESS RELEASES
DALLAS MAYOR TO MEET U.S. TREASURER AT HOTEL SITE
January 15, 2010
Ms. Rios Here to Highlight Build America Bonds
News Advisory:
Contact: Chris Heinbaugh
214.670-0773
U.S. Treasurer Rosie Rios will meet with Mayor Tom Leppert Friday afternoon (Jan 15) at the site of the Omni Dallas Convention Center Hotel. Ms. Rios is in Dallas to highlight the use of Build America Bonds as a tool to help finance local and state government infrastructure projects. Build America Bonds were created as part of the American Recovery and Reinvestment Act (ARRA) after many local and state projects could not proceed due to the freeze in municipal credit markets. Build America Bonds allow governments to obtain funding at lower borrowing costs.
At least seven North Texas governments and agencies have issued nearly $3 billion in Build America Bonds. The City of Dallas used them to help reduce the cost of financing the hotel. That project is providing 3,000 construction jobs and will create 800 permanent jobs once the hotel is complete. DART and Parkland Memorial Hospital have used the bonds as well. Both will have representatives at the news conference. Other Build America Bonds users include the North Texas Tollway Authority, North Texas Municipal Water District, Plano ISD, Carroll ISD and Collin County.
An update on the progress of the hotel will also be available.
Who: Dallas Mayor Tom Leppert
United States Treasurer Rosie Rios
Parkland Memorial Hospital CEO Ron Anderson
DART CEO Gary Thomas
When: Friday, January 15, 2010
Time: 2:30 PM
Where: Hotel Construction Site
800 Young St (The entrance is on the west side of Lamar between Young and the Dallas Convention Center)