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Record of Proceedings

Carson City Debt Management Commission Meeting - March 17, 2026

Board of Supervisors — Tuesday, March 17, 2026
BodyCarson City, Nevada
SessionBoard of Supervisors
DateTuesday, March 17, 2026
StatusFILED
Video Record
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3:56

This meeting uh uh going to call to order, would you uh a call roll, please?

4:03

Here.

4:04

Vice Chair Providente here.

4:06

Commissioner Horton.

4:07

Commissioner Sonata.

4:11

Commissioner Walt.

4:15

Okay, we have a quorum.

4:29

And I see no citizens in the audience unless the two uh non citizens want to make a comment.

4:36

Uh three for possible action is the approval of the minutes, uh, August fifth, two thousand twenty-five.

4:42

Each of you received a copy of that set, and if you uh unless you have any suggestions for modification, I'll entertain a motion to approve the uh the minutes as drafted.

5:01

Aye.

5:02

Uh Molly Walt for the record, I'll abstain.

5:05

Okay.

5:06

Uh as a matter of fact, welcome, Molly.

5:08

Uh uh 4A uh for possible action, discussion and possible action regarding the reapportionment of uh or the reappointment of of Nick Providenti, Don Hathaway, Mary Sonata to the debt management commission as at large representatives for each for a two-year term ending December 31, 2027.

5:30

And the way the statutes are outlined, as you can see in the staff report, the two elected representatives on this board uh are the ones that make the appointment.

5:41

So I would need a motion and a second by so moved.

5:46

Oops.

5:46

Molly second moved.

5:49

Second.

5:50

Okay.

5:51

Uh and and we don't vote.

5:53

So the all those in favor say aye.

5:56

Okay.

5:57

We're back on again.

6:00

4B, discussion and possible action regarding the election of chair and vice chair of the debt management commission for calendar year 2026.

6:08

Mr.

6:09

Chair.

6:10

Yes.

6:10

Just for the record, I just wanted to clarify that that last vote was uh two two zero with the two two elected officials uh voting in favor of them.

6:20

Thank you.

6:24

I would like to nominate uh our current chair.

6:30

Okay.

6:32

And how about the vice chair?

6:33

You want to throw it.

6:34

Sure, let's put Nick in there as vice chair.

6:36

Okay.

6:37

Do I have a motion or a second?

6:40

Second.

6:41

Okay.

6:42

All those in favor say aye.

6:43

Aye.

6:44

Aye.

6:44

Thank you.

6:46

Uh 4C, discussion and possible action regarding the department of uh Nevada Department of Taxations annual local government indebtedness report as of June 30th, 2025.

6:57

I have some comments, please.

6:59

Good morning.

6:59

This is Sherry Russell, CFO of Carson City for the record.

7:03

And uh so this is an annual report done by the state uh accumulation of all the debt in the state.

7:10

Um I like to focus on page 23 of your packet.

7:13

That is for counties.

7:16

And uh at the very top is Carson City.

7:18

Um please note that we have outstanding debt of 126, 864, 493.

7:24

I feel like the numbers keep getting smaller and smaller.

7:27

So um I thought it helpful to read them out.

7:31

Um, and then the current legal debt margin available is 254, 921,030.

7:38

Um, so are available is between the outstanding debt and the legal debt margin uh 128.056, 537.

7:47

We do have a 15 percent um indebtedness, the most are 10 percent of um assessed value.

7:56

We actually have 15 because we're both a city and a county.

8:00

So if there's any questions, um we do look kind of large compared to some of our counterparts, um, but please remember um we are consolidated, so uh cities underneath of counties would have their own debt, like in Reno, they've got Tomwa, they've got their own debt, and we carry all of that.

8:20

Any questions as on the city?

8:23

Okay, if you go with I think the next page, I'll just for the record for the school district uh uh their assessed valuation is also or the debt limit is also 15 percent.

8:33

Uh their assessed valuation is uh the 2,545 million.

8:39

Their outstanding general obligation, which we have already approved, but I'm not sure they've issued all of them, is 77 million uh 19,000.

8:48

Their legal debt margin is 304 million, so they have uh oh yeah, here it is.

8:54

They that we've authorized 15 million and they have not uh sold those yet.

8:58

And so their uh debt margin uh to be sold was 289,766.

9:05

And then the rest of the report, there's a breakdown on on the fair and rec uh board uh which is the uh tourism authority.

9:13

Um some counties are still the old title.

9:18

And so uh are there any questions, comments, observations on uh Molly?

9:27

So when you mention for other counties, does that mean that the that their 10 percent is also the GIDs or no?

9:35

No, just the counties.

9:37

Oh, just the counties, not that as well.

9:39

And then when you say for the schools, what what is that?

9:44

What would be the properties that he mentioned that would be the schools?

9:49

It would be all of the uh the uh cess valuation.

9:53

Well, the Carson City says assess valuation and the school cess valuation should be the same.

9:58

Yeah, it's based on the same assessed valuation.

10:00

So it's it's it's everything that's within the Carson City uh entity, and the debt limit is 15% of that, the maximum debt limit, and you can see that there are outstanding GO bonds, and we get more in that in the August meeting when the district and the city shows up and give an outline of their capital improvement plan and and debt management plan.

10:21

My question would be why would you do that for the school district at 15 when you don't have a separate school district for the cities and a separate school district for the counties?

10:31

So, like Washoe County has one school district.

10:34

So are they at 10?

10:36

No, all the school districts are 15.

10:38

Right.

10:38

Oh, okay.

10:39

Thank you.

10:39

All right, thank you.

10:40

Yeah, it's by statute.

10:41

Yeah.

10:43

Good questions.

10:45

Any uh any other observations?

10:48

Okay, I think we where my agenda goes.

10:53

I think we merely accept the report from uh the state because they're there's the ones that approve it, and we just have the legal obligation to accept it.

11:06

So I would entertain a motion uh for that so moved.

11:12

Nick moved Molly seconded it.

11:17

And uh any other comments, questions?

11:20

Okay, all those in favor say aye.

11:22

Aye, okay.

11:23

4D is the discussion regarding date and time for the desk next commission meeting.

11:29

We normally have been meeting on the second Tuesday of uh, and this will be in August.

11:37

Uh we only meet two times a year.

11:40

Uh what is that date?

11:45

The 11th.

11:46

Anyone at this stage have any reason that you would have a conflict?

11:56

Let me get uh uh one I'd like 145.

12:07

Yeah.

12:10

Yeah, right.

12:12

Okay, uh August 11th at 245.

12:16

One or one forty-five.

12:26

Okay, uh do we need a motion on that?

12:31

Yeah, we need a motion on that for the record.

12:33

No, okay.

12:35

Uh public comment again.

12:36

Uh the public is invited at this time to provide comment on any topic that it relates to the matter over which this public body has supervision, control, jurisdiction, or advisory uh power.

12:49

Uh there is no citizens involved, so I will uh call this matter this meeting adjourned.

12:57

Thank you.

Discussion Breakdown — Share of Meeting
Procedural█████████████████████████████████████████████72%
Fiscal Sustainability██████████████████28%
Summary of Proceedings

Carson City Debt Management Commission Meeting - March 17, 2026

The Carson City Debt Management Commission met on March 17, 2026, at 9:45 AM. The commission approved minutes from August 5, 2025, reappointed three members to the commission, elected officers for 2026, reviewed the state's annual indebtedness report, and set the next meeting date. Note: The transcript references minutes from August 5, 2025, which is inconsistent with the provided meeting date of March 17, 2026.

Consent Calendar

  • Approval of Minutes: The commission approved the minutes from August 5, 2025, as drafted. Commissioner Molly Walt abstained. The vote was 2-0-1 (2 elected officials in favor, 0 opposed, 1 abstention).

Discussion Items

  • Reappointment to Debt Management Commission: The commission reappointed Nick Providenti, Don Hathaway, and Mary Sonata as at-large representatives for two-year terms ending December 31, 2027. The motion was made by a commissioner and seconded by Commissioner Walt. The two elected officials voted unanimously in favor (2-0).
  • Election of Chair and Vice Chair for 2026: The commission re-elected the current chair (name not stated) and elected Nick Providenti as vice chair. The motion carried by voice vote.
  • Annual Local Government Indebtedness Report: Sherry Russell, CFO of Carson City, presented the Nevada Department of Taxation's report as of June 30, 2025. She highlighted that Carson City has outstanding debt of $126,864,493 and a legal debt margin of $254,921,030, with a 15% indebtedness limit due to the consolidated city-county status. She also noted the school district's debt figures: assessed valuation of $2,545 million, outstanding general obligation bonds of $77,019,000, and a legal debt margin of $304 million, with $15 million authorized but not yet sold. Discussion clarified that school districts statewide have a 15% debt limit. The commission accepted the report by motion (Nick moved, Molly seconded) via voice vote.
  • Next Meeting Date: The commission scheduled its next meeting for August 11, 2026, at 1:45 PM. The date was set without a formal motion.

Key Outcomes

  • Approved Minutes from August 5, 2025 (Molly Walt abstaining).
  • Reappointed Nick Providenti, Don Hathaway, and Mary Sonata to at-large positions (2-0 vote by elected officials).
  • Elected chair and vice chair for 2026 (voice vote).
  • Accepted the annual indebtedness report as presented.
  • Set next meeting for August 11, 2026, at 1:45 PM.

Note: The provided meeting date is March 17, 2026, but the transcript references minutes from an earlier date (August 5, 2025). This discrepancy is noted.

Meeting Transcript

This meeting uh uh going to call to order, would you uh a call roll, please? Here. Vice Chair Providente here. Commissioner Horton. Commissioner Sonata. Commissioner Walt. Okay, we have a quorum. And I see no citizens in the audience unless the two uh non citizens want to make a comment. Uh three for possible action is the approval of the minutes, uh, August fifth, two thousand twenty-five. Each of you received a copy of that set, and if you uh unless you have any suggestions for modification, I'll entertain a motion to approve the uh the minutes as drafted. Aye. Uh Molly Walt for the record, I'll abstain. Okay. Uh as a matter of fact, welcome, Molly. Uh uh 4A uh for possible action, discussion and possible action regarding the reapportionment of uh or the reappointment of of Nick Providenti, Don Hathaway, Mary Sonata to the debt management commission as at large representatives for each for a two-year term ending December 31, 2027. And the way the statutes are outlined, as you can see in the staff report, the two elected representatives on this board uh are the ones that make the appointment. So I would need a motion and a second by so moved. Oops. Molly second moved. Second. Okay. Uh and and we don't vote. So the all those in favor say aye. Okay. We're back on again. 4B, discussion and possible action regarding the election of chair and vice chair of the debt management commission for calendar year 2026. Mr. Chair. Yes. Just for the record, I just wanted to clarify that that last vote was uh two two zero with the two two elected officials uh voting in favor of them. Thank you. I would like to nominate uh our current chair. Okay. And how about the vice chair? You want to throw it. Sure, let's put Nick in there as vice chair. Okay. Do I have a motion or a second? Second. Okay. All those in favor say aye. Aye. Aye. Thank you. Uh 4C, discussion and possible action regarding the department of uh Nevada Department of Taxations annual local government indebtedness report as of June 30th, 2025. I have some comments, please. Good morning. This is Sherry Russell, CFO of Carson City for the record. And uh so this is an annual report done by the state uh accumulation of all the debt in the state. Um I like to focus on page 23 of your packet.

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