ORDINANCE NO. 2024-1649
AN ORDINANCE OF THE BOARD OF COUNTY COMMISSIONERS OF DOUGLAS COUNTY, NEVADA, DESIGNATED AS THE “2025B MEDIUM-TERM BOND ORDINANCE;” PROVIDING FOR THE ISSUANCE BY THE COUNTY OF ITS GENERAL OBLIGATION (LIMITED TAX) MEDIUM-TERM BOND, SERIES 2025B IN THE MAXIMUM PRINCIPAL AMOUNT OF $14,000,000; PROVIDING COVENANTS, CONDITIONS, AND OTHER DETAILS CONCERNING THE BONDS, THE PROJECT AND GENERAL TAX PROCEEDS; AND RATIFYING ACTION PREVIOUSLY TAKEN AND PERTAINING TO THE FOREGOING BY THE COUNTY AND ITS OFFICERS AND EMPLOYEES.
PUBLIC NOTICE IS HEREBY GIVEN, that typewritten copies of the above-numbered and entitled Ordinance are available for inspection by all interested persons at the office of the Clerk- Treasurer of Douglas County, Nevada (the “County”), 1616 8th St., 2nd Floor, Minden, Nevada during the regular office hours of the County, and electronic copies may requested by all interested persons during the regular office hours of the County by contacting the Clerk-Treasurer’s Office at 775- 782-9014 or at the following email address: boardclerk@douglasnv.us.
The following is a brief summary of the provisions of the Ordinance: The Ordinance authorizes the issuance of the Douglas County, Nevada, Medium-Term Bonds, Series 2025B (the “Bonds”) in the maximum aggregate principal amount of $14,000,000 in order to finance the costs of a judicial center for the County. The Ordinance sets forth the details of the Bonds, including, but not limited to, the dates and amounts of installments of principal maturing on the Bonds, the interest rate(s) and the terms of the prior redemption thereof. The Ordinance provides the terms of registration, transfer, exchange, execution and delivery of the Bonds. The Ordinance provides the form of the Bonds and the use of the proceeds thereof. The County makes a covenant in the Ordinance with respect to the tax-exemption of the interest on the Bonds.
The Ordinance provides that the Bonds are general obligations of the County and that the full faith and credit of the County is irrevocably pledged to the payment of the Bonds. The Bonds are payable from any legally available moneys of the County, including annual general (ad valorem) taxes levied against all of the taxable property within the County (the “General Taxes”), subject to the limitations imposed by the Constitution and by the statutes of the State. The Ordinance provides that the Bonds are not secured by any property of the County, other than the proceeds of General Taxes and any other moneys pledged for the repayment of the Bonds. The Ordinance provides no recourse for payment of the Bonds that may be had against the Board or other officers or agents of the County. The Ordinance provides for the defeasance of the Bonds, the replacement of the registrar and paying agent for the Bonds and the publication of the Ordinance by title in accordance with State law.
Such Ordinance was proposed on December 5, 2024 and will be considered for adoption at the regular meeting of the Board of County Commissioners (the “Board”) of the County to be held on December 19, 2024. Prior to consideration of the Ordinance for final adoption, the Board will hold a public hearing at the regular meeting to be held on December 19, 2024 at 10:00 am at the County Administration Building, 1616 8th St., Minden, Nevada. Members of the public may request an electronic copy of the agenda and supporting materials by contacting the Douglas County Manager’s Office at cmoffice@douglasnv.us. Electronic copies of the agenda and supporting materials are also available at the following websites:
* State of Nevada Public Notices website: https://notice.nv.gov
* Douglas County Meeting Website:
https://douglascountynv.iqm2.com/Citizens/Default.aspx
The Board shall adopt or reject the Ordinance (or the Ordinance as amended) within 35 days after the date of the final public hearing.
IN WITNESS WHEREOF, the Board of County Commissioners of Douglas County, Nevada, has ordered this notice to be published.
DATED this December 5, 2024.
/s/ Wesley Rice
Chairman
Board of County Commissioners
Douglas County, Nevada
(SEAL)
Attest:
/s/ Amy Burgans
Clerk-Treasurer
Douglas County, Nevada
Pub Date: December 7, 2024 Ad # 48144
