Clark County - File #: 24-208

• File #: 24-208
• Status: Agenda Ready
• File created: 2/7/2024
• In control: Clark County Board of Commissioners
• On agenda: 2/20/2024
• Title: Approve and adopt as though an emergency exists and authorize the Chair to sign an ordinance authorizing: (i) the issuance of the County's Airport System Subordinate Lien Refunding Revenue Bonds, Series 2024A for the purpose of paying the principal of and interest on all or a portion of the County's outstanding Airport System Subordinate Lien Revenue Bonds, Series 2008D-3 and Series 2014A-2 (ii) the issuance of the County's Airport System Junior Subordinate Lien Revenue Notes, Series 2024B for the purpose of financing the costs of certain improvements of the Airport System; (iii) approving the execution and delivery of related documents; and (iv) providing for other matters properly related thereto. (For possible action)

Date	Action By	Action	Result
2/20/2024	Clark County Board of Commissioners	Approved as Recommended; Agenda note: Item No. 52 Minutes	Pass

CLARK COUNTY BOARD OF COMMISSIONERS

AGENDA ITEM

Petitioner:

Rosemary A. Vassiliadis, Director of Aviation

Recommendation: 

title

Approve and adopt as though an emergency exists and authorize the Chair to sign an ordinance authorizing: (i) the issuance of the County's Airport System Subordinate Lien Refunding Revenue Bonds, Series 2024A for the purpose of paying the principal of and interest on all or a portion of the County's outstanding Airport System Subordinate Lien Revenue Bonds, Series 2008D-3 and Series 2014A-2 (ii) the issuance of the County's Airport System Junior Subordinate Lien Revenue Notes, Series 2024B for the purpose of financing the costs of certain improvements of the Airport System; (iii) approving the execution and delivery of related documents; and (iv) providing for other matters properly related thereto.  (For possible action)

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FISCAL IMPACT:

Fund #:	5220.000	Fund Name:	Airport System Debt Service
Fund Center:	2200400070	Funded PGM/Grant:	N/A
Amount:	N/A
Description:	Approve the issuance of Airport System Subordinate Lien Refunding Revenue Bonds 2024A to refund all or a portion of the Airport System Subordinate Lien Revenue Bonds, Series 2008D-3 and Series 2014A-2 and approve the issuance of Airport System Junior Subordinate Lien Revenue Notes Series 2024B for financing the costs of improvements to the airport system.
Additional Comments:	These Bonds will continue to be secured and repaid from Airport System Revenues

BACKGROUND: 

This ordinance approves and authorizes the issuance of the Airport System Subordinate Lien Refunding Revenue Bonds, Series 2024A to refund the Airport System Subordinate Lien Revenue Bonds Series 2008D-3 and refund the Airport System Subordinate Lien Series 2014A-2.

This ordinance also approves and authorizes the issuance of the Airport System Junior Subordinate Lien Revenue Notes, Series 2024B for the purpose of financing the costs of certain improvements to the Airport System.

The terms outlined in these agreements reflect current market conditions for these types of transactions and redemption of these outstanding bonds will achieve desirable savings and restructuring of debt. The Airport's Financial Advisors and Bond Counsel have reviewed and approved all related materials contained in this item.