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Increases in effect taxes on food, drink and car rental may be required to expense for the Wisconsin Center District convention project, a top city said Wednesday.

Two new countywide tax of 0.25% on restaurant food and beverages, and 3% on 1st Cars Began in January.

These taxes, and a 7% room tax be approved by the Wisconsin Center District, and are used for the repayment of bonds for the proposed $ 167 million convention center project.

Because of the strong interest rate hikes, the officials with the increase in taxes to the maximum allowed, said W. Martin Morics, City Comptroller, and the chairman of the Wisconsin Center District Finance Committee.

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The center has the authority to promote the meal tax to 0.5% and the rental car tax to 4%, he said.

Morics said he wants the region's financial advisers to outline how the cost of borrowing, which had the project.

"" Since the last time we have to them, interest rates have really "," Morics said.

Bond prices rallied to 6.75% to 7.25% for the type of note used to finance the project, said Morics. Improve that millions of dollars for the project cost, he said.

A report in the year 1993 estimated that the taxes would Wisconsin Center $ 9.56 million in 1995. The report says that a $ 160 million bond to 5.75% would be $ 4.2 million per year in debt payments this year, and $ 5.4 million in 1996.

Morics said the new taxes to their maximum values might be necessary if "" We were skating on a thin edge, "where the revenue for the little debt and other expenses.

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