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Board approves $150 million in highway bonds to fund NDOT projects
Summary
The State Board of Finance approved two special-obligation Highway Improvement Revenue Bond series totaling $150 million (Series 2024A $100M; Series 2024B $50M) pledged to motor fuel excise taxes and federal highway aid to fund several NDOT projects including the Henderson Interchange and I-15/Tropicana work.
The Board of Finance voted Feb. 8 to authorize the sale and issuance of State of Nevada Highway Improvement Revenue Bonds in two series totaling $150 million for the Nevada Department of Transportation.
Deputy Treasurer Eaton said Series 2024A (up to $100 million) will help fund the Henderson Interchange, US 395 North Valleys and I-15 at Tropicana interchange work; Series 2024B (up to $50 million) will also fund portions of the Henderson Interchange and I-15 at Tropicana. Eaton said bond payments are pledged to motor vehicle fuel excise taxes and any appropriate federal highway aid credited to the State Highway Fund. Controller Andy Matthews moved approval of both resolutions; each motion passed unanimously. Staff confirmed a tentative sale schedule with a bond sale Feb. 21 and closing March 13, 2024.
