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May 15, 2007
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Governor' plan to fund roads with LV tourism dollars hits a bump

The Las Vegas Convention and Visitors Authority's bond lawyer says Gov. Jim Gibbons' proposal to solve a road construction financial shortfall by taking money from his client would violate the Nevada and U.S. constitutions.

Reno lawyer John Swendseid said Gibbons' plan would not leave the convention authority enough revenue to pay off an existing $230 million bond and a $680 million loan to pay for renovation of the convention center.

Swendseid said bond holders have been promised that their loans would be paid by "growth in room taxes."

Unless additional revenues were given to the agency, Swendseid said its contract …

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The Nevada Appeal Updated May 16, 2007 03:24PM Published May 15, 2007 03:00AM Copyright 2007 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.