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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Set a public hearing for Tuesday, February 21, 2023, at 10:00 a.m., to consider any objections or protests regarding the issuance of its “Clark County Water Reclamation District (District), Nevada General Obligation (Limited Tax) Water Reclamation Bonds, (Additionally Secured by Pledged Revenues) Series 2023”, in the maximum principal amount of $340,000,000; or take other action as appropriate. (For possible action)
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FISCAL IMPACT:
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Fund #: |
N/A |
Fund Name: |
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Fund Center: |
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Funded PGM/Grant: |
N/A |
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Amount: |
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Description: |
Set Public Hearing for Resolution of Intent (Resolution 22-006) |
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Additional Comments: |
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BACKGROUND:
The District is seeking authorization to issue General Obligation (Limited Tax) Bonds (additionally secured by pledged revenues) in an amount not to exceed $340,000,000 (the “Proposal”) for the purpose of financing the District’s Five-Year Capital Improvement Plan (FY 2022/23 through FY 2026/27), estimated at $1.1 Billion.
On November 15, 2022, this Board approved District Resolution 22-005, the 2023 Clark County Water Reclamation District Debt Management Commission (DMC) Notice of the Proposal and directed the Secretary of the District to notify the DMC of the Proposal and requested it convene to consider approval of the Proposal.
On December 1, 2022, the Debt Management Commission convened and approved the Proposal.
On December 6, 2022, this Board approved and adopted the Resolution 22-006, Resolution of Intent, and set the Public Hearing for Tuesday, January 17, 2023. However, the required publications contained a clerical issue of the Bond amounts, which was beyond the District’s control. As a result, the Public Hearing was postponed to 10:00 a.m. on February 21, 2023, to allow for proper publication.
Publication of the Notice of Public Hearing ran on January 27, 2023 and February 3, 2023 in a newspaper of general circulation, and will run again on February 10, 2023.
Staff recommends the Board of Trustees set a public hearing for Tuesday, February 21, 2023, at 10:00 a.m.
This agenda item has been reviewed and approved by the District General Counsel.