NOTICE OF THE INTENT OF THE BOARD OF SUPERVISORS OF
CARSON CITY, NEVADA, TO ISSUE GENERAL OBLIGATION (LIMITED
TAX) CAPITAL IMPROVEMENT BONDS OF THE CITY ADDITIONALLY
SECURED BY PLEDGED REVENUES
NOTICE IS HEREBY GIVEN that the Board of Supervisors of Carson City
(the “Board” and the “City”) Nevada, by a resolution, passed, adopted and
approved on October 21, 2021, and designated in Section 1 thereof by the
short title “2021 Resolution of Intent to Issue Capital Improvement Bonds”
has proposed the issuance of the City’s general obligation (limited tax)
capital improvement bonds (additionally secured by pledged revenues)
(the “Bonds”) designated below, as follows:
GENERAL OBLIGATION CAPITAL IMPROVEMENT BONDS
(ADDITIONALLY SECURED BY PLEDGED REVENUES) PROPOSAL:
Shall the Board of Supervisors of Carson City, Nevada, be authorized to
incur a general obligation indebtedness (additionally secured by pledged
revenues) on behalf of the City by the issuance at one time, or from time
to time, of the City’s general obligation capital improvement bonds, in
one series or more, in the aggregate principal amount of not exceeding
$8,100,000 for the purpose of acquiring, constructing, improving and
equipping building projects as defined in NRS 244A.019, such bonds to
mature not later than twenty-one (21) years from the date or respective
dates of the bonds, payable from general (ad valorem) taxes (except to
the extent pledged revenues and other monies are available therefor), and
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, and otherwise
to be issued in such manner, upon such terms and conditions, with such
covenants and agreements, and with such other detail as the Board may
determine, including at its option but not necessarily limited to provisions
for the redemption of bonds prior to maturity without or with the payment
of a premium? (the “Proposal”); and
The above Proposal was approved by the Debt Management Commission
of Carson City, Nevada.
The Board has determined that the Bonds to be issued for the purpose of
financing building projects for the City (as further described in the above
Proposal) will be additionally secured by a pledge of the Nevada Revised
Statutes (“NRS”) 360.698 “pledged revenues”. The Board has, in addition,
determined, based upon a revenue study, 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 intends to incur these
general obligations as set forth above without an election as provided
in subsection 3 of NRS 350.020, unless within ninety (90) days after the
publication of this notice a petition requesting an election is presented to
the Clerk-Recorder on behalf of the Board signed by not fewer than five
percent (5%) of the registered voters of the City. 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 adopt
an ordinance or ordinances authorizing the issuance of the Bonds. Such
ordinance or ordinances authorizing the issuance of the Bonds will
be effective unless prior to 5:00 p.m. on January 25, 2022, a petition
is presented to the Clerk-Recorder on behalf of the Board asking for
the Board to hold an election upon the question of whether or not the
proposed Bonds, shall be incurred. The petition for an election herein
referred to may be filed with the Clerk-Recorder on behalf of the Board no
later than 5:00 p.m. on January 25, 2022, at the Clerk-Recorder’s Office,
885 East Musser Street, Suite 1028, Carson City, Nevada, during regular
office hours of the Clerk-Recorder. In the event such petition is presented,
no such ordinance or ordinances 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 ordinance or ordinances 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 an election or if conferred
by the fact no petition is presented to the Clerk-Recorder requesting
such an election within ninety (90) days of the date of publication hereof
shall be deemed to be a continuing authority and the Board 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 projects to be financed by the Bonds, the Bonds and the
revenues to be pledged to the Bonds, and all proceedings in the premises,
are on file in the office of the Clerk-Recorder, 885 East Musser Street,
Suite 1028, Carson City, Nevada, and can be seen and examined by
interested persons during the regular office hours of the Clerk-Recorder.
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 Clerk-Recorder, 885 East Musser Street, Suite 1028, Carson
City, Nevada, during the regular office hours of the Clerk-Recorder.
The determination by the Board that the pledged revenues will at least
equal the amount required in each year for the payment of interest and
principal on the Bonds becomes conclusive on the last day for filing the
petition, i.e., on January 25, 2022, at 5:00 p.m.
BY ORDER of the Board of Supervisors of Carson City, Nevada, dated
October 21, 2021.
Aubrey Rowlatt, Carson City Clerk
C. Eggert, Chief Deputy (seal)
Pub: October 27, 2021 Ad#18245
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