The bond debt will be repaid through select State and City tax revenues generated by the project — which are State hotel occupancy tax and sales tax; and City property tax, general sales tax, regular hotel occupancy tax and mixed beverage tax generated solely by the project.
Not included are the State mixed beverage tax, and the City’s half-cent sales tax for property tax reduction, half-cent sales tax for economic development and roads, and 2-percent hotel occupancy venue tax. The venue tax was approved by City voters in 2011 to fund debt and operation costs for the Round Rock Sports Center. The tax revenues not included in the agreement are retained by the City at 100 percent.
Updated May, 2017