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CARSON CITY — Although they won’t be using the money anytime soon, Clark County School District representatives testified for a bill Friday that would allow school districts to use some bond reserve funds to build and repair schools.
Democratic leaders announced a plan Tuesday to use so-called excess school bond reserves to construct and repair schools. Assembly Ways and Means Chairman Debbie Smith said the plan would free up $80 million for Washoe County schools. It would not immediately free up any money for school construction in Clark County because of declining property values, she said.
UNLV President Neal Smatresk told the Faculty Senate on Wednesday he believes the state’s higher education system will have to declare financial exigency, a declaration similar to bankruptcy, to deal with cuts proposed in Gov. Brian Sandoval’s budget.
No fewer than a dozen stadium and arena proposals have emerged in Southern Nevada over the past 15 years, and most of those have fizzled. Today, the Board of Regents meets to consider whether to provide exclusive negotiations to Majestic Realty with the University of Nevada, Las Vegas, regarding the construction of an on-campus stadium and other major improvements.
The Clark County School District might be joining the ranks of those unable to make their monthly payments if legislators accept the governor’s proposal to divert state school systems’ capital reserves to their operating budgets.