CLARK COUNTY Water Reclamation District
Board of Trustees
AGENDA ITEM
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Petitioner: |
Thomas A. Minwegen, General Manager |
Recommendation:
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Approve, adopt, and authorize the Chair to sign Resolution 25-004 authorizing the District to issue its “Clark County Water Reclamation District, Nevada General Obligation (Limited Tax) Water Reclamation Refunding Bonds, (Additionally Secured by Pledged Revenues) Series 2025”, in the maximum principal amount of $69,055,000. (Sitting as the Clark County Water Reclamation District Board of Trustees) (For possible action)
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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: |
69,055,000 |
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Description: |
Series 2025 Bond Refunding |
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Additional Comments: |
The debt service on the Series 2025 Bonds is anticipated to be paid from Clark County Water Reclamation District rates and charges. |
BACKGROUND:
Following a preliminary review of the District’s outstanding bonds, there appears to be an opportunity to refund the District’s Series 2015 Bonds for interest rate savings. The expected savings meets the criteria for refunding as set forth in the District’s Debt Management Policy. The District will provide written notice to the Clark County Regional Debt Management Commission (DMC) when the District is ready to go to market for the “Clark County Water Reclamation District, Nevada General Obligation (Limited Tax) Water Reclamation Refunding Bonds, (Additionally Secured by Pledged Revenues) Series 2025” (Series 2025 Bonds).
Bond Resolution 25-004 authorizes the District to issue the Series 2025 Bonds, pay the costs of issuing the Series 2025 Bonds, and provides the form, terms, and conditions of the Series Bonds, the security therefor, and other details in connection therewith.
This action requires four affirmative votes from this Board for approval.
This agenda item has been reviewed and approved by the District General Counsel.