Committee approves ordinance to issue about $90 million in revenue bonds to reimburse Civic Plaza costs

Summary

The recommending committee approved Bill 2025-44 to authorize issuance of approximately $90 million in various-purpose revenue bonds (series 2026A tax-exempt and 2026B taxable) to reimburse the city for Civic Plaza expenses; CFO Susan Helsey clarified these are not park bonds and final tax status will be set by bond counsel.

The Las Vegas Recommending Committee on Jan. 5 voted to approve Bill 2025-44, an ordinance authorizing the city to issue approximately $90,000,000 in various-purpose revenue bonds (Series 2026A tax-exempt; Series 2026B taxable) to finance building projects and to reimburse prior city expenditures for Civic Plaza.

Chief Financial Officer Susan Helsey said the $90 million figure is an estimate and the ordinance is written to permit either tax-exempt or taxable issuance depending on bond-counsel determinations. Helsey said the city expects to issue the bonds in early 2026. When asked whether these were the previously discussed park bonds, Helsey clarified they are not: "This is the $90,000,000 revenue bond that we're reimbursing ourselves for the Civic Plaza across the street. Parks bonds will come a little bit later." There were no public comments; the committee moved and approved the item for referral to the January city council meeting.

The committee recorded approval but the transcript does not include a roll-call vote tally; staff indicated final bond terms and tax status are subject to bond-counsel drafting and market conditions.