CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
|
Petitioner: |
Anna Danchik, Comptroller |
Recommendation:
title
Approve, adopt and authorize the Chair to sign the Ordinance authorizing the issuance by the County of its “Clark County, Nevada, General Obligation (Limited Tax) Transportation Improvement Bonds (Additionally Secured by Pledged Revenues), Series 2026B”, in the maximum aggregate principal amount of $101,190,000 for the purpose of financing certain of the County’s transportation projects (Strip Resort Corridor); providing the form, terms and conditions of such bonds; providing for the levy and collection of annual general (ad valorem) taxes for the payment thereof; additionally securing their payment by a pledge of revenues derived from certain taxes imposed on the revenues from the rental of transient lodging; providing other matters relating thereto; adopting it as if an emergency now exists; and providing the effective date. (For possible action)
body
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: |
The general obligation (limited tax) transportation improvement bonds (the “Series 2026B Bonds”) will be additionally secured with Master Transportation Plan revenues derived from a 1% room tax collected on the gross receipts from the rental of transient lodging (hotel/motel rooms) within the boundaries of the strip resort corridor (the “Strip Resort Corridor Pledged Revenues”) and is dedicated to fund transportation improvements within the Las Vegas Strip Resort Corridor boundaries. |
BACKGROUND:
At the June 2, 2026 meeting of the Board of County Commissioners, the Board authorized the County to request the Debt Management Commission to approve the County’s proposal to issue general obligations for the Master Transportation Plan Strip Resort Corridor improvement projects. On June 4, 2026, the Debt Management Commission met and approved the proposal. At the June 16, 2026 meeting of the Board of County Commissioners, the Board adopted a resolution of intent to issue the Series 2026B Bonds. On July 21, 2026, the Board held a public hearing as required by the resolution of intent.
The bond ordinance authorizes the issuance by the County of its “Clark County, Nevada, General Obligation (Limited Tax) Transportation Improvement Bonds (Additionally Secured by Pledged Revenues), Series 2026B”, in the maximum aggregate principal amount of $101,190,000 for the purpose of financing certain of the County’s
transportation projects (Strip Resort Corridor); providing the form, terms and conditions of such bonds; providing for the levy and collection of annual general (ad valorem) taxes for the payment thereof; additionally securing their payment by a pledge of revenues derived from certain taxes imposed on the revenues from the rental of transient lodging; providing other matters relating thereto; adopting it as if an emergency now exists; and providing the effective date.
This action requires five affirmative votes for approval.