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On agenda:
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11/16/2021
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Final action:
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Title:
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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)
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| 11/16/2021 |
Clark County Board of Commissioners
| Approved
Agenda note: DISCUSSION: Following introduction of the item, the Board was addressed by the applicant’s representative who advised that the applicant secured a determination letter of 501(c)(3) status from the Treasury Department, which was delayed due to COVID-19; the Clark County School District approved the name change and authorized the applicant to pursue the bond; and requested approval from the Board so the applicant’s rent payment will be controlled, and savings be reinvested in the school.
Chair Kirkpatrick opened the public hearing and asked if there were any persons present in the audience wishing to be heard on the matter.
SPEAKER(S): None
There being no persons present in the audience wishing to be heard on the matter, Chair Kirkpatrick closed the public hearing. | Pass |
Action details
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Meeting details
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Video/Audio
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CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
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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:
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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: |
N/A |
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Description: |
N/A |
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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).
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