The meeting of the debt management commission to order.

Would you call the roll, please?

Chair Hathaway.

Here.

Vice Chair Providenti.

Commissioner Horton.

Commissioner Sonata.

Commissioner Walt.

Here.

We have a quorum.

Okay, we're all here.

We can go to item number two.

The public comment.

The public is invited at this time to comment on and discuss any topic that is relevant to or within the authority of the Carson City Debt Management Commission.

I see none.

Let's go on to the minutes of uh March seventeenth, two thousand twenty-six.

Each of you received a copy of uh that document, unless there's any uh suggested modifications.

I'll entertain a motion to uh approve the document.

So moved.

Second.

There's a motion uh to move and second.

All those in favor say aye.

Okay.

All righty.

Uh item four A is discussion regarding Carson City's annual reports, statements of debt management policy, plans for capital improvement, and updates of information as required by NRS three fifty oh one three.

Please identify yourself.

Sherry Russ Sherry Russell Benabu, Chief Financial Officer for the record.

Um, just gonna go through a few pages.

Um page thirty-six of your packet has all of the city's outstanding debt.

Which what were page thirty-six of your packet?

Okay.

Um then as we go through move through the information.

Um, I think I wanted to point out on thirty-seven the outstanding debt chart, um, which should shows a dramatic drop off um in the next ten years of debt service.

Um, same thing with the next page, thirty-eight.

Uh, we have our debt service requirements chart, same thing.

Next ten years, a dramatic drop in debt service.

Um, I also wanted to point out on page thirty-eight, sixty-two percent of our debt in the pie chart you can see below is utilities.

So water, sewer, stormwater.

Um, vast majority.

And then I want to hop all the way to page thirty-five, uh, where it shows our our uh general obligation debt limit, which is fifteen percent of um assessed valuation.

Sixty-nine.

Oh, I'm sorry, I was looking at the wrong page.

It's sixty-nine in your packet.

It has a page number 35 on it too.

So I pointed to the wrong number, sorry.

Page 69.

Um that shows our 15% general obligation limit at 420 million.

Uh we currently only have 11 million, so there's 309 million available should we want to issue debt in the future.

Um and then on the very last page, or not very not last page, but page 70, the very next page.

Um I always like to point out because it looks like we have a very high um geo debt as a percentage of assessed value at 4.26.

Um, because that's work we're comparing to cities, and um, you know, we're both a city and a county, so that's why we have all the utilities, you know, and Reno Sparks Tum was a separate entity, and so we're a consolidated municipality, so we have all of the debt under us, um, but we are 4.26, which is lower than it's been in the past, and if there's any questions, I'm happy to answer.

Um, with unless you wanted me to go over something else you saw that you were confused about, let me know.

Were there any changes from the last uh time you made made this presentation?

Yeah, I think that's the same.

No, we did not issue any debt last year.

Okay.

Uh go ahead.

I I had a question.

So uh I've been told we have a uh another meeting scheduled in September.

And uh my understanding is that the reason we have scheduled extra meetings is because we plan on issuing some new debt, is that correct?