ORDINANCE NO. 2024-1648
AN ORDINANCE OF THE BOARD OF COUNTY COMMISSIONERS
OF DOUGLAS COUNTY, NEVADA, DESIGNATED BY THE SHORT
TITLE “2025 JUSTICE CENTER BOND ORDINANCE”; PROVIDING
FOR THE ISSUANCE OF THE DOUGLAS, COUNTY, NEVADA,
GENERAL OBLIGATION (LIMITED TAX) JUSTICE CENTER BONDS
(ADDITIONALLY SECURED BY PLEDGED REVENUES), SERIES
2025A, IN THE MAXIMUM AGGREGATE PRINCIPAL AMOUNT OF
$37,000,000; PROVIDING THE FORM, TERMS AND CONDITIONS
THEREOF AND COVENANTS RELATING TO THE PAYMENT OF
SAID BONDS; AND PROVIDING THE EFFECTIVE DATE HEREOF.
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,
General Obligation (Limited Tax) Justice Center Bonds (Additionally
Secured by Pledged Revenues), Series 2025A (the “Bonds”) in the
maximum aggregate principal amount of $37,000,000 in order to finance
the cost to acquire, construct, improve and equip a Building Project as
defined in NRS Section 244A.019. 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 payment of the principal of
and interest on the Bonds is secured by a pledge of 15% of the proceeds
of liquor taxes, tobacco taxes, real property transfer taxes, governmental
services taxes and basic and supplemental sales taxes distributed to
and imposed within the County pursuant to NRS 360.600 to 360.740
(the “Pledged Revenues”). To the extent the Pledged Revenues are
unavailable, 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 # 48145
