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On agenda:
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12/7/2021
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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 tax-exempt 501(c)(3) revenue and revenue refunding bonds in an amount not to exceed $70,000,000 in order to a) finance the acquisition of, and capital improvements to, an approximately 16.59 acre parcel of land bordered by South Hualapai Way, Discovery Drive, Breakthrough Way and West Twain Avenue, Las Vegas, Nevada 89135 for educational facilities for use by Roseman University of Health Sciences, (b) current refund the Public Finance Authority Revenue Bonds (Roseman University of Health Sciences Project), Series 2012, (c) fund a debt service reserve fund for the Bonds, (d) fund interest on the Bonds, and (e) pay all or a portion of the costs of issuance of the Bonds. (For possible action)
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| 12/7/2021 |
Clark County Board of Commissioners
| Approved
Agenda note: SPEAKER(S): Present
DISCUSSION: Following introduction of the item, Doug Dawes of Roseman University advised that the resolution assisted in lowering the costs of the bonds; property was acquired in Summerlin to build out the campus; and there would be no liability to the County. | 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 tax-exempt 501(c)(3) revenue and revenue refunding bonds in an amount not to exceed $70,000,000 in order to a) finance the acquisition of, and capital improvements to, an approximately 16.59 acre parcel of land bordered by South Hualapai Way, Discovery Drive, Breakthrough Way and West Twain Avenue, Las Vegas, Nevada 89135 for educational facilities for use by Roseman University of Health Sciences, (b) current refund the Public Finance Authority Revenue Bonds (Roseman University of Health Sciences Project), Series 2012, (c) fund a debt service reserve fund for the Bonds, (d) fund interest on the Bonds, and (e) 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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