Rock River Current
ROCKFORD — A City Council committee on Monday gave unanimous approval to a plan to use the city’s bonding authority to help Hard Rock Casino Rockford finance its new hotel and convention center.
The Finance and Personnel Committee signed off on a plan for the city to authorize $90 million in bond proceeds, for a total bond of $103 million, for construction of the 200 to 225 room hotel and 15,000-square-foot conference center. The city would own the hotel until Hard Rock buys out the balance on the bond, which is expected to happen in seven to 10 years…