NOTICE OF THE INTENT OF THE BOARD OF TRUSTEES OF LOGAN CREEK ESTATES
GENERAL IMPROVEMENT DISTRICT, NEVADA, TO ISSUE GENERAL OBLIGATION (LIMITED
TAX) BONDS OF THE DISTRICT ADDITIONALLY SECURED BY PLEDGED REVENUES
NOTICE IS HEREBY GIVEN that the Board of Trustees of Logan Creek Estates General Improvement
District (the “Board” and the “District”) Nevada, by a resolution, passed, adopted and
approved on December 14, 2022, and designated in Section 1 thereof by the short title “2022
Resolution of Intent to Issue Bonds” has proposed the issuance of the District’s general obligation
(limited tax) water bonds (additionally secured by pledged revenues) (the “Bonds”) designated
below, as follows:
GENERAL OBLIGATION WATER BONDS (ADDITIONALLY SECURED BY PLEDGED
REVENUES) PROPOSAL:
Shall the Board of Trustees of Logan Creek Estates General Improvement District,
Nevada, be authorized to incur a general obligation indebtedness (additionally
secured by pledged revenues) on behalf of the District by the issuance at one time,
or from time to time, of the District’s general obligation water bonds, in one series or
more, in the aggregate principal amount of not to exceed $1,200,000 for the purpose
of financing water system improvements, such bonds to mature not later than thirty
(30) 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
but not necessarily limited to, provisions for the redemption of bonds prior to maturity
without or with the payment of a premium?
(the “Proposal”);
The Proposal was approved by the Debt Management Commission of Douglas County, Nevada.
The Board has determined that the Bonds are to be issued for the purpose of financing certain
water system improvements (as further described in the above Proposal) and will be additionally
secured by a pledge of the “water pledged revenues.” The Board has also determined, based
upon a revenue study, that such water 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 the general obligations as set
forth above without an election as provided in subsection 3 of Nevada Revised Statutes (“NRS”)
350.020, unless within ninety (90) days after the publication of this notice (December 21, 2022)
a petition requesting an election is presented to the Board signed by not fewer than five percent
(5%) of the registered voters of the District. The number of registered voters is to be determined
as of the close of registration for the last preceding general election. Any such petition must be
filed with the District and Board of Trustees at: Logan Creek Estates General Improvement District,
1711 Logan Creek Drive, Glenbrook NV 89413, Attn: Jeff McDaniel, District Treasurer.
A person may obtain additional information regarding the contents of and filing requirements for
the petition at: Logan Creek Estates General Improvement District, 1711 Logan Creek Drive,
Glenbrook NV 89413, Attn: Jeff McDaniel, District Treasurer.
At a meeting of the Board, the Board shall proceed to adopt a resolution authorizing the issuance
of the Bonds. Such resolution authorizing the issuance of the Bonds will be effective unless
prior to 5:00 p.m. on March 21, 2023, a petition is presented to the Board asking for 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 presented to the Board at any time prior to the expiration of
ninety (90) days after the publication of this notice. In the event such petition is presented, no
such resolution 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 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 Board 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 District 1711 Logan Creek Drive, Glenbrook
NV 89413, Attn: Jeff McDaniel, District Treasurer, and can be seen and examined by interested
persons during the regular office hours of the Secretary.
The determinations 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 March 21, 2023, at 5:00 p.m.
BY ORDER of the Board of Trustees of Logan Creek Estates General Improvement
District, Nevada.
DATED this December 14, 2022
Pub Date: December 21, 2022 Ad # 29378
