Clark County - File #: 21-464

• File #: 21-464
• Status: Agenda Ready
• File created: 3/25/2021
• In control: Clark County Board of Commissioners
• On agenda: 4/6/2021
• Title: Conduct a public hearing and approve, adopt and authorize the Chair to sign a resolution approving a Public Finance Authority (Wisconsin) tax exempt 501(c)(3) revenue bond issue in an amount not to exceed $35,000,000 in order to finance and/or refinance the acquisition, construction, expansion, remodeling, renovation, improvement, furnishing and equipping of charter school educational facilities for use by Coral Academy of Science Las Vegas. (For possible action)

Date	Action By	Action	Result
4/6/2021	Clark County Board of Commissioners	Approved as Recommended; Agenda note: DISCUSSION: Chair Kirkpatrick opened the public hearing and asked if there were any persons in the audience wishing to be heard on the matter; SPEAKER(S): Present; Following introduction of the item, the Board was addressed by Ercan Aydogdu, Executive Director of Coral Academy of Science Las Vegas who advised that 20 acres of land had been acquired to build a new Pre-K through 12th grade facility in Henderson for 1,850 students.; Commissioner Kirkpatrick clarified that the County's bonding rate would not be affected, and that the bond the Academy acquired required a public hearing before the local jurisdiction.; There being no other persons present wishing to be heard on the matter, Chair Kirkpatrick closed the public hearing.	Pass

CLARK COUNTY BOARD OF COMMISSIONERS

AGENDA ITEM

Petitioner:

Jessica L. Colvin, Chief Financial Officer

Recommendation: 

title

Conduct a public hearing and approve, adopt and authorize the Chair to sign a resolution approving a Public Finance Authority (Wisconsin) tax exempt 501(c)(3) revenue bond issue in an amount not to exceed $35,000,000 in order to finance and/or refinance the acquisition, construction, expansion, remodeling, renovation, improvement, furnishing and equipping of charter school educational facilities for use by Coral Academy of Science Las Vegas.  (For possible action)

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FISCAL IMPACT:

Fund #:	N/A	Fund Name:	N/A
Fund Center:	N/A	Funded PGM/Grant:	N/A
Amount:	N/A
Description:	N/A
Additional Comments:	No fiscal impact.  The bonds are not a financial responsibility of the County.

BACKGROUND: 

Pursuant to Section 147(f) of the Internal Revenue Code, prior to their issuance, the bonds are required to be approved by the “applicable elected representative” of the governmental unit having jurisdiction over the area in which the project is located, after a public hearing is held following reasonable public notice. Consequently, approval of the Board is needed to meet the requirements of Section 147(f).