CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
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Petitioner: |
Jessica L. Colvin, Chief Financial Officer |
Recommendation:
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Approve, adopt and authorize the Chair to sign the Ordinance authorizing the issuance by the County of its “Clark County, Nevada, Sales and Excise Tax Revenue (Streets and Highways Projects) Bonds, Series 2023", in the maximum principal amount of $100,000,000, as if an emergency exists. (For possible action)
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FISCAL IMPACT:
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Fund #: |
N/A |
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Funded PGM/Grant: |
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Additional Comments: |
The debt service on the bonds will be paid from Sales and Excise Tax revenues. |
BACKGROUND:
On March 9, 2023, the RTC Board adopted a request resolution to the Board of County Commissioners to issue “Clark County, Nevada, Sales and Excise Tax Revenue (Streets and Highways Projects) Bonds, Series 2023", in one series or more, to allow for the issuance of revenue bonds to finance the cost to establish and maintain a public transit system, for the construction, maintenance and repair of public roads, for the improvement of air quality or for any combination of those purposes.
The Ordinance authorizes the issuance of the “Clark County, Nevada, Sales and Excise Tax Revenue (Streets and Highways Projects) Bonds, Series 2023", in the maximum principal amount of $100,000,000; funding a reserve; paying the costs of issuing the bonds; providing the form, terms and conditions of the bonds, the security therefor, and other details in connection therewith.
This action requires five affirmative votes for approval.