Northern counties eligible for bond money
Eight Northern and rural Nevada counties are eligible for a total of $225 million in economic recovery bonds.
Sen. Harry Reid, D-Nev., said there are two types of bonds in the package.
One kind is intended to help local governments obtain financing for economic development projects that will create jobs and revive the economy.
The other are tax-exempt bonds that can be used by private businesses in those recovery zones to finance capital projects.
He said local governments are being forced to put economic development and infrastructure projects on hold.
“This funding will go a long way toward helping these counties turn things around,” Reid said.
The lion’s share of the money will go to Washoe County and the city of Reno. But seven other counties including Carson City are also eligible for part of the money.