Summary
The Elko Convention and Visitors Authority (E Center) said it refinanced and paid off prior obligations in 2024 using a county loan and a medium‑term bank note; it now operates under room tax, ad valorem and fixed sales tax allocations.
The Elko Convention and Visitors Authority told the Debt Management Commission it retired a prior obligation by refinancing with a county loan and a medium‑term bank note and now plans constrained capital work while focusing on debt service. Annette Kerr, executive director, said the authority retained consultant help and in December 2024 used a $3,000,000 county loan (2024a) plus a medium‑term note with Chase Bank (2024b) to resolve prior JMF funding obligations. “We had the hired a consultant who helped us promote 2 general obligation bonds...That allowed us to pay off our obligation through the JMF funding for the conference center. So, we're out of that situation,” Kerr said. Kerr said the authority’s funding derives from room tax, ad valorem and a fixed sales tax allocation (the authority receives a fixed $32,000 per month from sales tax), and that marketing funds are kept separate from debt service. The authority reported no other anticipated large capital purchases this year and said convention bookings are strong, with occupancy near 94% for one facility and about 57% for the other. Commissioners unanimously approved the authority’s indebtedness report; Kerr noted the authority will continue conservative capital planning to ensure debt service obligations are met.
