CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
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Petitioner: |
Anna Danchik, Comptroller |
Recommendation:
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Approve, adopt and authorize the Chair to sign the Bond Ordinance concerning the issuance and payment of its “Clark County, Nevada, Highway Revenue Improvement and Refunding Bonds (Indexed Fuel Tax and Subordinate Motor Vehicle Fuel Tax), Series 2025", in the maximum principal amount of $202,780,000; as if an emergency exists. (For possible action)
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FISCAL IMPACT:
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Fund #: |
N/A |
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Funded PGM/Grant: |
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Additional Comments: |
The debt service on the bonds will be paid from Indexed Fuel Tax and Subordinate Motor Vehicle Fuel Tax. |
BACKGROUND:
On March 13, 2025, the RTC Board adopted a request resolution to the Board of County Commissioners to authorize the issuance of revenue bonds, in one series or more, for the purpose of financing the costs to acquire, construct, and improve certain street and highway projects, including, without limitation, land and improvements thereto. The resolution also authorized the refunding of all or a portion of the "Clark County, Nevada, Highway Revenue Bonds (Indexed Fuel Tax and Subordinate Motor Vehicle Fuel Tax), Series 2015", for interest rate savings. Both new money and refunding bonds, to the extent of interest rate savings, will be combined to issue the “Clark County, Nevada, Highway Revenue Improvement and Refunding Bonds (Indexed Fuel Tax and Subordinate Motor Vehicle Fuel Tax), Series 2025”, in one series or more.
The Ordinance authorizes the issuance of the "Clark County, Nevada, Highway Revenue Improvement and Refunding Bonds (Indexed Fuel Tax and Subordinate Motor Vehicle Fuel Tax), Series 2025", in the maximum principal amount of $202,780,000, and paying the costs of issuing the bonds; funding a reserve; providing the form, terms and conditions of the bonds, the security therefor, and other details in connection therewith.
This action requires five affirmative votes for approval