Clark County Debt Management Committee Meeting - September 3, 2026

The Clark County Debt Management Committee (DMC) met on September 3, 2026, at 10:00 AM. Chair Kirkpatrick presided, with a quorum present. Public comment was opened and closed with no speakers. The agenda and minutes from the June 4, 2026 meeting were approved unanimously.

Consent Calendar

• Approval of Agenda: Motion by Councilman Stewart, second by Mr. Shaw. All in favor, motion carried.
• Approval of Minutes (June 4, 2026): Motion by Mr. Shaw, second by Councilman Stewart. All in favor, motion carried.

Discussion Items

• Item 3 – Las Vegas Valley Water District General Obligation Bond Refunding: Kathy Siselak (municipal advisor) and Paul Johnson (CFO of the district) presented a refunding opportunity for the 2017 bonds. Estimated savings initially $2.9 million, updated to $4.2 million (4.9% of refunded bonds) under current market conditions. The bonds are general obligations pledged with district revenues; no property tax increase is anticipated. Coverage ratios are strong (over 9 times current, over 10 times projected). Motion to approve by Councilman Stewart, second by Mr. Shaw, with the caveat that the bonds are outside the property tax cap. All in favor, motion carried.

• Item 4 – Clark County General Obligation Hospital Improvement Bonds for UMC: Kathy Siselak and Jennifer Wakeham (CFO of UMC) presented a bond issuance not to exceed $45.77 million for two projects: a five-story parking garage (808 new spaces) and an inpatient rehabilitation facility. The bonds are general obligations of the county but repaid by a gross pledge of hospital revenues, with no anticipated property tax impact. Discussion included employee parking charges (currently $15 per pay period for dedicated spots; future charges undecided), coverage ratios (312 times coverage after debt issuance), and the county's subsidy to UMC (approximately $35–40 million annually, down from over $200 million in 2014–2015). Commissioner Kirkpatrick disclosed serving on the board of a health care entity but stated it does not affect the bond. Motion to approve, seconded, with the property tax cap provision. All in favor, motion carried.

• Item 5 – Annual Reports of Current and Contemplated GO Bonds: Dan Trick (county counsel) presented Schedule A of contemplated debt for fiscal year 2027. Notable items: City of Las Vegas medium-term bonds ($21M and $40M) exempt from DMC approval; Clark County stadium improvement bonds ($175M) exempt; Clark County transportation improvement bonds ($101M) previously approved; hospital bonds (just approved); park improvement and facility bonds expected in November; school district bonds approved in June; water district and Southern Nevada Water Authority bonds approved in May. Medium-term bonds are reviewed by the Department of Taxation, not DMC. Discussion centered on legal availability of funds and covenants. The report was received as information.

• Items 6 & 7 – Establish Percentage and Priorities for Property Tax Rate: The current policy sets an 80% threshold; districts above this line require a finding of public need for any tax rate increase. Priorities are public safety, health, and education (on parity). Staff recommended maintaining 80%. Motion to approve items 6 and 7 together, keeping the 80% threshold and existing priorities. All in favor, motion carried.

• Item 8 – Schedule of Meetings: The committee agreed to continue meeting on the first Thursday of the month, canceling when not needed. Motion to keep current schedule. All in favor, motion carried.

• Item 9 – Next Meeting Date: The next meeting is set for November 12, 2026, at 9:00 AM. No December meeting will be held. Motion approved.

Key Outcomes

• All motions on items 1–4 and 6–9 passed unanimously.
• The annual report on contemplated debt (Item 5) was received.
• The next meeting is scheduled for November 12, 2026.