CLARK COUNTY Water Reclamation District
Board of Trustees
AGENDA ITEM
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Petitioner: |
Thomas A. Minwegen, General Manager |
Recommendation:
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Approve, adopt, and authorize the Chair to sign Resolution 26-004 authorizing the District to issue its “Clark County Water Reclamation District, Nevada General Obligation (Limited Tax) Water Reclamation Refunding Bonds, (Additionally Secured by Pledged Revenues) Series 2026”, in the maximum principal amount of $196,525,000. (Sitting as the Clark County Water Reclamation District Board of Trustees) (For possible action)
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FISCAL IMPACT:
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Fund #: |
N/A |
Fund Name: |
N/A |
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Fund Center: |
N/A |
Funded PGM/Grant: |
N/A |
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Amount: |
$196,525,000 |
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Description: |
Series 2026 Bond Refunding |
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Additional Comments: |
The debt service on the Series 2026 Bonds is anticipated to be paid from Clark County Water Reclamation District rates and charges. |
BACKGROUND:
Following a preliminary review of the District’s outstanding bonds, there appears to be an opportunity to refund the District’s Series 2015 and Series 2016 Bonds for interest rate savings. This refunding has been approved by a review process conducted by the Clark County Regional Debt Management Commission (DMC). The District will provide written notice to the DMC when the District is ready to go the market for the “Clark County Water Reclamation District, Nevada General Obligation (Limited Tax) Water Reclamation Refunding Bonds, (Additionally Secured by Pledged Revenues) Series 2026” (Series 2026 Bonds).
Bond Resolution 26-004 authorizes the District to issue the Series 2026 Bonds, and provides the form, terms, and conditions of the Series Bonds, the security therefor, and other details in connection therewith.
This action requires four affirmative votes from this Board for approval
This agenda item has been reviewed and approved by the District General Counsel.