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File #: 21-1639   
Status: Agenda Ready
File created: 11/3/2021 In control: Clark County Board of Commissioners
On agenda: 11/16/2021 Final action:
Title: Conduct a public hearing and approve, adopt and authorize the Chair to sign a resolution approving the issuance by the Public Finance Authority (Wisconsin), in one or more series, of taxable bonds and/or tax-exempt 501(c)(3) revenue bonds in an amount not to exceed $15,000,000 in order to a) finance the acquisition, construction, renovation and equipping of certain land and charter educational facilities located at 2341 Comstock Dr., North Las Vegas, Nevada 89032 for use by 100 Academy of Excellence, Inc., (b) pay capitalized interest on the Bonds, and (c) pay all or a portion of the costs of issuance of the Bonds. (For possible action)
Attachments: 1. Staff Report, 2. 100 Academy of Excellence TEFRA Resolution

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 the issuance by the Public Finance Authority (Wisconsin), in one or more series, of taxable bonds and/or tax-exempt 501(c)(3) revenue bonds in an amount not to exceed $15,000,000 in order to a) finance the acquisition, construction, renovation and equipping of certain land and charter educational facilities located at 2341 Comstock Dr., North Las Vegas, Nevada 89032 for use by 100 Academy of Excellence, Inc., (b) pay capitalized interest on the Bonds, and (c) pay all or a portion of the costs of issuance of the Bonds.  (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:

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).