NOTICE OF THE INTENT OF THE LA...
NOTICE OF THE INTENT OF THE LA...
NOTICE OF THE INTENT OF THE LAS VEGAS CONVENTION AND VISITORS AUTHORITY TO ISSUE IN THE NAME OF AND ON BEHALF OF CLARK COUNTY, NEVADA, THE CLARK COUNTY, NEVADA, GENERAL OBLIGATION (LIMITED TAX) LAS VEGAS CONVENTION AND VISITORS AUTHORITY REFUNDING BONDS (ADDITIONALLY SECURED WITH PLEDGED REVENUES)
NOTICE IS HEREBY GIVEN that the Board of Directors (the "Board") of the Las Vegas Convention and Visitors Authority (the "Authority"), Nevada, by a resolution, passed, adopted and approved on March 12, 2024, has proposed the issuance of the Clark County, Nevada, General Obligation (Limited Tax) Las Vegas Convention and Visitors Authority Refunding Bonds (Additionally Secured With Pledged Revenues) (the "Bonds") in one or more series as designated below in the proposal (the "Proposal"), as follows:
GENERAL OBLIGATION (LIMITED TAX) REFUNDING PROPOSAL:
Shall the Las Vegas Convention and Visitors Authority (the "Authority") be authorized to incur a general obligation indebtedness in the name and on behalf of the County by the issuance at one time, or from time to time, of Clark County, Nevada, general obligation (limited tax) Las Vegas Convention and Visitors Authority refunding bonds (additionally secured with pledged revenues), in one series or more (collectively, the "Refunding Bonds") in the aggregate principal amount of $18,660,000, in order to defray wholly or in part the cost of refinancing certain outstanding revenue bonds of the Authority; such Refunding Bonds to be payable from general (ad valorem) taxes, except to the extent Pledged Revenues are available therefor, such Refunding Bonds to be issued and sold at, above, or below par at an effective interest rate (including any sale discount) not exceeding the statutory maximum rate, if any, as shall be determined at the time of the sale thereof, such Refunding Bonds to be outstanding at any one time in an aggregate principal amount not to exceed $18,660,000, all of such Refunding Bonds to be issued in such manner, upon such terms and conditions, with such covenants and agreements, and with such detail as the Board may determine, including at its option but not necessarily limited to provisions for the redemption of the Refunding Bonds prior to maturity without or with the payment of a premium?; and
The Proposal has heretofore been approved by the Debt Management Commission of Clark County, Nevada. The Bonds are to be issued for the purpose of refunding certain outstanding obligations of the Authority.
The Authority has determined that the general obligation bonds will be additionally secured with a pledge of revenues and, in addition, has determined that the "Pledged Revenues" will at least equal the amount required in each year for the payment of the interest on and the principal of the Bonds.
Based upon these determinations, the Board on behalf of the Authority intends to incur these general obligations as set forth above in one series or more without an election as provided in NRS 350.020(3), unless within ninety (90) days after the publication of this notice a petition requesting an election is presented to the Chief Financial Officer of the Authority signed by not less than five percent (5%) of the registered voters of the County. The number of registered voters is to be determined as of the close of registration for the last preceding general election.
At a meeting or meetings of the Board, the Board shall proceed to enact a resolution or resolutions authorizing the issuance of the Bonds which shall be effective not earlier than ninety (90) days after the publication of this notice. Such resolution or resolutions authorizing the issuance of the Bonds will be effective unless prior to 5:00 p.m. on June 17, 2024, a petition is presented to the Chief Financial Officer of the Authority asking for the Board on behalf of the Authority to hold an election upon the question of whether or not the proposed general obligations shall be incurred. The petition for an election herein referred to herein may be filed with the Chief Financial Officer of the Authority no later than 5:00 p.m. on June 17, 2024, at the Office of the Chief Financial Officer of the Authority, 3150 Paradise Road, Las Vegas, Nevada, during regular office hours of the Authority. In the event such petition is presented, no such resolution or resolutions shall be effective except pursuant to an election called and held for such purpose and carried by a majority of the votes cast. In the event no such petition is presented, the Bonds will be authorized as described above. The resolution or resolutions authorizing the Bonds will, in addition, contain provisions for additionally securing the payment of the general obligations by pledging the Pledged Revenues designated above and in the Proposal to the payment of the Bonds.
The authority to issue the Bonds if conferred at the election or if conferred by the fact no petition is presented to the Chief Financial Officer of the Authority requesting such an election within ninety (90) days of the date of publication hereof shall be deemed to be a continuing authority and the Authority shall be authorized to sell the Bonds at such time or times and upon such terms and conditions as it deems proper in accordance with the provisions of the Proposal and the laws of the State of Nevada.
All persons interested are hereby advised that further information regarding the Project to be financed by the Bonds, the Bonds and the Pledged Revenues pledged to the Bonds, and all proceedings in the premises may be examined in the Office of the Chief Financial Officer of the Authority, 3150 Paradise Road, Las Vegas, Nevada, during the regular office hours of the Authority. All persons interested may also obtain additional information regarding the contents of and filing requirements for the petition herein referred to at the Office of the Chief Financial Officer of the Authority, 3150 Paradise Road, Las Vegas, Nevada, during regular office hours of the Authority.
BY ORDER of the Las Vegas Convention and Visitors Authority, Nevada.
DATED March 12, 2024.
/s/ Steve Hill
Chief Executive Officer/President of the
Authority
PUB: March 18, 2024
LV Review-Journal
NOTICE OF THE INTENT OF THE LAS VEGAS CONVENTION AND VISITORS AUTHORITY TO ISSUE IN THE NAME OF AND ON BEHALF OF CLARK COUNTY, NEVADA, THE CLARK COUNTY, NEVADA, GENERAL OBLIGATION (LIMITED TAX) LAS VEGAS CONVENTION AND VISITORS AUTHORITY REFUNDING BONDS (ADDITIONALLY SECURED WITH PLEDGED REVENUES)
NOTICE IS HEREBY GIVEN that the Board of Directors (the "Board") of the Las Vegas Convention and Visitors Authority (the "Authority"), Nevada, by a resolution, passed, adopted and approved on March 12, 2024, has proposed the issuance of the Clark County, Nevada, General Obligation (Limited Tax) Las Vegas Convention and Visitors Authority Refunding Bonds (Additionally Secured With Pledged Revenues) (the "Bonds") in one or more series as designated below in the proposal (the "Proposal"), as follows:
GENERAL OBLIGATION (LIMITED TAX) REFUNDING PROPOSAL:
Shall the Las Vegas Convention and Visitors Authority (the "Authority") be authorized to incur a general obligation indebtedness in the name and on behalf of the County by the issuance at one time, or from time to time, of Clark County, Nevada, general obligation (limited tax) Las Vegas Convention and Visitors Authority refunding bonds (additionally secured with pledged revenues), in one series or more (collectively, the "Refunding Bonds") in the aggregate principal amount of $18,660,000, in order to defray wholly or in part the cost of refinancing certain outstanding revenue bonds of the Authority; such Refunding Bonds to be payable from general (ad valorem) taxes, except to the extent Pledged Revenues are available therefor, such Refunding Bonds to be issued and sold at, above, or below par at an effective interest rate (including any sale discount) not exceeding the statutory maximum rate, if any, as shall be determined at the time of the sale thereof, such Refunding Bonds to be outstanding at any one time in an aggregate principal amount not to exceed $18,660,000, all of such Refunding Bonds to be issued in such manner, upon such terms and conditions, with such covenants and agreements, and with such detail as the Board may determine, including at its option but not necessarily limited to provisions for the redemption of the Refunding Bonds prior to maturity without or with the payment of a premium?; and
The Proposal has heretofore been approved by the Debt Management Commission of Clark County, Nevada. The Bonds are to be issued for the purpose of refunding certain outstanding obligations of the Authority.
The Authority has determined that the general obligation bonds will be additionally secured with a pledge of revenues and, in addition, has determined that the "Pledged Revenues" will at least equal the amount required in each year for the payment of the interest on and the principal of the Bonds.
Based upon these determinations, the Board on behalf of the Authority intends to incur these general obligations as set forth above in one series or more without an election as provided in NRS 350.020(3), unless within ninety (90) days after the publication of this notice a petition requesting an election is presented to the Chief Financial Officer of the Authority signed by not less than five percent (5%) of the registered voters of the County. The number of registered voters is to be determined as of the close of registration for the last preceding general election.
At a meeting or meetings of the Board, the Board shall proceed to enact a resolution or resolutions authorizing the issuance of the Bonds which shall be effective not earlier than ninety (90) days after the publication of this notice. Such resolution or resolutions authorizing the issuance of the Bonds will be effective unless prior to 5:00 p.m. on June 17, 2024, a petition is presented to the Chief Financial Officer of the Authority asking for the Board on behalf of the Authority to hold an election upon the question of whether or not the proposed general obligations shall be incurred. The petition for an election herein referred to herein may be filed with the Chief Financial Officer of the Authority no later than 5:00 p.m. on June 17, 2024, at the Office of the Chief Financial Officer of the Authority, 3150 Paradise Road, Las Vegas, Nevada, during regular office hours of the Authority. In the event such petition is presented, no such resolution or resolutions shall be effective except pursuant to an election called and held for such purpose and carried by a majority of the votes cast. In the event no such petition is presented, the Bonds will be authorized as described above. The resolution or resolutions authorizing the Bonds will, in addition, contain provisions for additionally securing the payment of the general obligations by pledging the Pledged Revenues designated above and in the Proposal to the payment of the Bonds.
The authority to issue the Bonds if conferred at the election or if conferred by the fact no petition is presented to the Chief Financial Officer of the Authority requesting such an election within ninety (90) days of the date of publication hereof shall be deemed to be a continuing authority and the Authority shall be authorized to sell the Bonds at such time or times and upon such terms and conditions as it deems proper in accordance with the provisions of the Proposal and the laws of the State of Nevada.
All persons interested are hereby advised that further information regarding the Project to be financed by the Bonds, the Bonds and the Pledged Revenues pledged to the Bonds, and all proceedings in the premises may be examined in the Office of the Chief Financial Officer of the Authority, 3150 Paradise Road, Las Vegas, Nevada, during the regular office hours of the Authority. All persons interested may also obtain additional information regarding the contents of and filing requirements for the petition herein referred to at the Office of the Chief Financial Officer of the Authority, 3150 Paradise Road, Las Vegas, Nevada, during regular office hours of the Authority.
BY ORDER of the Las Vegas Convention and Visitors Authority, Nevada.
DATED March 12, 2024.
/s/ Steve Hill
Chief Executive Officer/President of the
Authority
PUB: March 18, 2024
LV Review-Journal
Posted Online 19 hours ago