Phoenix's $600 Million Civic Center Expansion
"Phoenix won't increase taxes to pay for the convention hall. Tuesday's vote authorizes the city to borrow up to $300 million, backed by existing taxes on hotels, restaurants and construction. City officials said Phoenix likely will borrow over the next three to five years and repay the money over the next 25 years. At the least, Phoenix can now borrow enough money to begin to design the project while city officials lobby the Legislature for the matching $300 million, city staff members said."
Thanks to Chris Steins