About $140M in bonds to be sold to help finance Project Neon

A third and final round of state bonds will be sold to help pay for Project Neon, the $1 billion widening of Interstate 15 between Sahara Avenue and the Spaghetti Bowl interchange in downtown Las Vegas.

The Nevada Department of Transportation’s board of directors on Monday unanimously agreed to sell up to $140 million in bonds that will be repaid over 20 years at a 3.74 percent interest rate.

The state Transportation board agreed in 2014 to finance Project Neon with three separate rounds of bond sales. The first in 2016 garnered $200 million, followed by a $185 million issuance in 2017.

NDOT officials had originally expected to issue $180 million in bonds for the final round, but the figure was reduced when the agency received more state and federal funds than anticipated, said Robert Nellis, NDOT’s assistant director for administration.

“We’re seeing all these numbers on the page, but at the end of the day what it means is we’re using money more efficiently and we can build more projects faster,” said Gov. Brian Sandoval, who serves as chairman of the NDOT board.

“I think it’s pretty remarkable, as much that’s been done, that we’ve come to this last phase and we’re able to cut the bond by $40 million,” Sandoval said. “And, the project is on time and on budget.”

The latest round of long-term closures associated with Project Neon, known as the “Main Event,” kicked off last week with a significant slimming of traffic lanes along I-15.

During the weekend, U.S. Highway 95 was closed to through traffic between Martin Luther King and Las Vegas boulevards so that crews could demolish some freeway bridges along southbound I-15.

Rather than toss the rubble into a landfill, NDOT spokesman Tony Illia said the debris will be recycled and reused as fill-in material on other areas of Project Neon.

“NDOT is committed to sustainability and improving the environment,” Illia said.

Contact Art Marroquin at amarroquin@reviewjournal.com or 702-383-0336. Follow @AMarroquin_LV on Twitter.

ad-high_impact_4
Local
NFR 2018 Highlights
NFR 2018 highlights from every round of this years rodeo.
NFR 2018 Round 10 Highlights
NFR 2018 Round 10 Highlights of the 2018 Wrangler National Finals Rodeo from the Thomas & Mack in Las Vegas, Nevada. (CBS Sports Network/PRCA)
NFR- Joe Frost
NFR Bull Rider Joe Frost talks about the difference in bulls and his family legacy with Cassie Soto before the last round of the National Finals Rodeo.
Herm Edwards on LV Bowl loss
Arizona State coach Herm Edwards talks about the loss in the Las Vegas Bowl. Video by Mark Anderson/Las Vegas Review-Journal
Fresno State linebacker George Helmuth after LV Bowl
Linebacker George Helmuth talks about Fresno State's turnaround. Video by Mark Anderson/Las Vegas Review-Journal
Youth cancer survivor receives gift bat at Winter Meetings
Cancer survivor Steven Mondragon, baseball player at Los Altos High in Hacienda Heights, California, received a complimentary bamboo bat during the Baseball Winter Meetings in Las Vegas, Nevada, on Dec. 12, 2018. (Ron Kantowski/Las Vegas Review-Journal)
NFR Day 9 Highlights
Highlights from round 9 of the 2018 Wrangler National Finals Rodeo from the Thomas & Mack in Las Vegas, Nevada. (CBS Sports Network/PRCA)
NFR 2018- Will Lummus Leads in Steer Wrestling
As NFR 2018 enters day nine, steer wrestler Will Lummus continues to see his name at the top of the standings. Las Vegas Review Journal host Cassie Soto speaks with the Mississippi native about his excitement to be participating in his first ever NFR.
John Saccenti on the Las Vegas Bowl's future
Las Vegas Bowl executive director John Saccenti talks about the game's future. Video by Mark Anderson/Las Vegas Review-Journal
UNLV's Mbacke Diong on his offensive improvement
UNLV forward Mbacke Diong talks about his offensive improvement. Video by Mark Anderson/Las Vegas Review-Journal
NFR dirt is the most important part of the rodeo
NFR has bull riding, saddle bronc, barrel racing, tie down roping, steer wrestling, team roping, and bareback riding but one of the most important part of the rodeo according to construction maintenance manager Allen Rheinheimer is the dirt that they all take place in. Review-Journal sports writer Ed Graney chats with Rheinheimer and ground man John Jamison to get an inside look at the dirt in Thomas & Mack at the National Finals Rodeo.
North Las Vegas Pedestrian-cyclist Survey
North Las Vegas officials are seeking comments from residents in hopes of bettering their experience in the city. An online survey has been set up for citizens to share their opinions and give their suggestions.
NFR Day 8 Highlights
Highlights from round 8 of the 2018 Wrangler National Finals Rodeo from the Thomas & Mack in Las Vegas, Nevada. (CBS Sports Network/PRCA)
NFR - Wyatt Denny Talks About Representing Nevada
NFR Bareback Rider Wyatt Denny talks to host Cassie Soto about being the only Nevada representative in the NFR this year and his skiing talent.
Junior NFR Offers Breakaway Roping for Girls
Unlike the NFR at the Thomas and Mack Center, the Junior NFR at the Las Vegas Convention Center offers breakaway roping for girls 19-and under. This event allows the young women of rodeo one more event to participate in, aside from barrel racing.
North Las Vegas Pedestrian-Cyclist Survey
North Las Vegas officials are seeking comments from residents in hopes of bettering their experience in the city. An online survey has been set up for citizens to share their opinions and give their suggestions.
NFR Day 7 Highlights
Highlights from the 7th go-round of the 2018 National Finals Rodeo in Las Vegas on Tuesday, Dec. 12, 2018. (CBS Sports Network/PRCA)
NFR- Jessica Routier
NFR Barrel Racer Jessica Routier talks about being at her first NFR, her horses, and her family with Cassie Soto in front of Thomas & Mack before round 7 of the National Finals Rodeo.
The Nevada State Museum
The Nevada State Museum of Las Vegas, located at the Springs Preserve, covers all eras of the state, from prehistoric to today.
NFR Day 6 Highlights
Highlights from the 6th go-round of the 2018 National Finals Rodeo in Las Vegas on Tuesday, Dec. 11, 2018. (CBS Sports Network/PRCA)
Las Vegas Bowl Teams Talk Shop at Maverick Helicopters
Arizona State, Fresno State talk to the media at Maverick Helicopters.
NFR- Will Lowe
NFR Bareback Rider Will Lowe talks with Aaron Drawhorn about his 15 years at the NFR, starting to ride at age 7, and renewing his wedding vowels this year in Las Vegas before night 6 of the National Finals Rodeo.
Veterans Village
Veterans Village and Veterans Village II were created to assist homeless veterans get back on their feet. (Mat Luschek/Las Vegas Review-Journal)
Holiday party cocktails
Veterans Village II Unveils Model Container Home
Veteran's Village II unveiled a model container home. The organization will be building 10 of these container homes to house veterans of the village. Mat Luschek/Las Vegas Review-Journal
NFR Day 5 Highlights
NFR Day 5 Highlights
NFR- Kory Koontz
NFR Team Roper Kory Koontz talks about his years at the event since 1992, his dynamic with a 23 year old partner Dustin Egusquiza, and how he contines to perform with diabetes with Aaron Drawhorn outside of Thomas & Mack before round 5 of the National Rodeo Finals.
Meet the woman behind the Las Vegas Bowl
Melissa Meacham-Grossman is the associate executive director for the Las Vegas Bowl. (Jason Bracelin/Las Vegas Review-Journal)
NFR Highlights Day 4
NFR highlights day 4
NFR Introduces Golden Circle Of Champions
For the first time, the National Finals Rodeo has partnered with the Santa Maria Elks Rodeo to offer the Golden Circle of Champions. The event brings in 20 children and their families from around the country that have previously or are currently fighting life-threatening cancer.
Tony Sanchez wraps up the UNLV season
UNLV football coach Tony Sanchez wraps up the season. Video by Mark Anderson/Las Vegas Review-Journal
TOP NEWS
News Headlines
Home Front Page Footer Listing
Circular
You May Like

You May Like