Carson City legal - 36772

NOTICE OF THE INTENT OF THE BOARD OF SUPERVISORS OF CARSON CITY, NEVADA,

TO ISSUE GENERAL OBLIGATION (LIMITED TAX) PARK 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 September 7, 2023, and designated

in Section 1 thereof by the short title “2023 Resolution of Intent to Issue Park Bonds” has

proposed the issuance of the City’s general obligation (limited tax) park bonds (additionally secured

by pledged revenues) (the “Bonds”) designated below, as follows:

GENERAL OBLIGATION PARK 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 park bonds, in one series or more, in

the aggregate principal amount of not exceeding $5,000,000 for the purpose of acquiring, reconstructing,

constructing, improving, extending, and bettering recreational facilities as set forth in NRS

244A.597, including, but not limited to, improvements at the John D Winters Centennial Park Complex,

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 certain recreational

facilities as set forth in Nevada Revised Statutes (“NRS”) 244A.597, including, but not limited

to, improvements at the John D Winters Centennial Park Complex (as further described in the

above Proposal) will be additionally secured by a pledge of the revenues received by the Carson

City Culture and Tourism Authority from 5 and 13/16% of the 7% City-wide tax on gross receipts

from the rental of transient lodging imposed pursuant to Section 4.08.080(1) of the Carson City

Municipal Code (the “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 December 15, 2023, 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 December 15, 2023, 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 December 15, 2023, at 5:00 p.m.

BY ORDER of the Board of Supervisors of Carson City, Nevada, dated September 7, 2023.

William Scott Hoen, Clerk-Recorder

By: H. Mills, Chief Deputy (seal)

Pub Date: September 16, 2023 Ad # 36772