ORDINANCE (B VERSION) (EMERGENCY) submitted by Sheryl M. M. Long, City Manager, on 2/5/2024, PLEDGING a portion of the City’s transient occupancy tax (the “City TOT”) to secure obligations of the Port of Greater Cincinnati Development Authority (the “Port Authority”) to be issued to refinance existing obligations and to finance the costs to renovate, expand, improve, and develop the City-owned Duke Energy Convention Center and related properties; ESTABLISHING the priority of the City’s pledge of the City TOT relative to other authorized pledges and uses of the City TOT; and AUTHORIZING the City Manager to enter into and execute a Cooperative Agreement with Hamilton County, Ohio (the “County”), the Port Authority, and, for limited purposes, the Convention Facilities Authority for Hamilton County, Ohio (the “CFA”), and the Greater Cincinnati Convention and Visitors Bureau, Inc. (the “GCCVB”); and a Residual TOT Fund Cooperative Agreement with the County, and, for limited purposes, the CFA and the GCCVB; and authorizing and approving related matters.

Committee

Cincinnati City Council

Requested by

Budget and Finance Committee

Introduced

February 2, 2024

On agenda

February 7, 2024

Passed

February 7, 2024

Enacted

February 7, 2024

Enactment no.

0047-2024

Where it was heard

Cincinnati City Council Feb 7, 2024 Passed Emergency Pass Cincinnati City Council Feb 7, 2024 Emergency clause to remain Pass Cincinnati City Council Feb 7, 2024 Suspension of the three readings Pass Budget, Finance & Governance Committee Feb 5, 2024 Recommend Passage Emergency

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