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File #: 22-0904   
Status: Agenda Ready
File created: 6/9/2022 In control: Clark County Board of Commissioners
On agenda: 6/21/2022 Final action:
Title: Approve and adopt the Clark County Debt Management Policy dated June 30, 2022; and direct staff to transmit the approved document to the State of Nevada Department of Taxation and the Debt Management Commission in accordance with NRS 350.013; or take other action as appropriate. (For possible action)
Attachments: 1. Staff Report, 2. dx - 2022 Debt Management Policy.pdf

CLARK COUNTY BOARD OF COMMISSIONERS

AGENDA ITEM

 

Petitioner:

Jessica L. Colvin, Chief Financial Officer

Recommendation: 

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Approve and adopt the Clark County Debt Management Policy dated June 30, 2022; and direct staff to transmit the approved document to the State of Nevada Department of Taxation and the Debt Management Commission in accordance with NRS 350.013; or take other action as appropriate.   (For possible action)

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FISCAL IMPACT:

Fund #:

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Fund Name:

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Funded PGM/Grant:

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Additional Comments:

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BACKGROUND: 

The Clark County Debt Management Policy (the Policy) was established by the Board of County Commissioners in FY 1992-93.  Pursuant to NRS 350.013, the County must annually update and submit the Policy to the County Clerk, the Clerk of the Debt Management Commission, and the State Department of Taxation.  Upon Board approval, the County will submit the Policy to the appropriate agencies in compliance with state statutes.

The Policy is comprised of three sections:  Debt Summary, Debt Statistics, and a Debt Issuance Policy.  The Policy serves as a guide for determining the County’s use of debt financing as a funding alternative for capital projects and establishes guidelines for the issuance of debt.  The Policy also includes a detailed listing of the County’s outstanding General Obligation indebtedness and a listing of the County’s General Obligation proposed indebtedness.