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| By Dave Levinthal, The Dallas Morning NewsMcClatchy-Tribune Regional News Mar. 26--The Dallas City Council continued Wednesday to pursue plans to build an attached Dallas Convention Center, voting to appoint six financial firms to a team that would sell bonds allowing City Hall to purchase land designated for the hotel and related development. The firms include Citigroup Global Markets, UBS Securities, Siebert Brandford, Shank & Co., Jackson Securities, RBC Capital Markets, and Southwest Securities. Citigroup, UBS and Siebert Brandford would serve as co-senior managers. The city did not vote to spend money Wednesday. Instead, the underwriting team will only be used if the city later decides to purchase 8.34 acres of downtown land, bounded by Young, Lamar and Market streets, for an estimated $41.3 million in public funds. A majority of the council hopes to cast a final vote by May to purchase the land. District 14 council member Angela Hunt alone voted against the underwriter appointment. Ms. Hunt has argued that the land's proposed purchase price is either too high, or that Dallas taxpayers have long been cheated because the plot's taxable value is only about $7.5 million. ----- To see more of The Dallas Morning News, or to subscribe to the newspaper, go to http://www.dallasnews.com. Copyright (c) 2008, The Dallas Morning News Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. NYSE:UBS, NYSE:SWS, NYSE:C, |
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