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
Underground home was built as Cold War-era hideaway
The underground house at 3970 Spencer Street is one of the valley’s most unusual homes built 26 feet underground in 1978 by Girard “Jerry” B. Henderson, who, planned to survive the end of the world there.
Lip Smacking Foodie Tours takes you where the locals go
Donald Contursi talks about Lip Smacking Foodie Tours, which offers walking tours of restaurants on and off Las Vegas Boulevard with food samples and tidbits of history about the places they visit.
Bump stock manufacturers under fire
The Justice Department said last month that it had started the process to amend federal firearms regulations to clarify that federal law defines bump stocks as machine guns.
Art Bell’s Top 10 Shows
A selection of radio host Art Bell’s most popular shows.
Longtime Las Vegas attorney John Momot dies at age 74
Criminal defense attorney John Momot, who represented mob figures and even played himself in the movie “Casino,” has died.
David Copperfield in court after man injured during magic trick
The attorney for a British man who is suing illusionist David Copperfield said his client suffered serious injuries after being called on stage during Copperfield's show at MGM Grand.
5 things connecting Las Vegas and Marilyn Monroe
1. Marilyn Monroe, known then as Norma Jeane, obtained her first divorce in Las Vegas at the age of 20 on September 13, 1946. 2. According to some biographers, Monroe lived at 604 S. 3rd Street for four months during the summer of 1946. The house has since been torn down and is now the site of a parking lot. 3. In 1954, Monroe almost married Joe DiMaggio in Las Vegas but the wedding was called off last minute. The wedding was to be held at the Hotel El Rancho Vegas which was located on the southwest corner of Sahara Avenue and Las Vegas Boulevard. 4. Las Vegas has at least one road dedicated to the star. Marilyn Monroe Avenue is located in east Las Vegas and intersects with Betty Davis Street and Cary Grant Court. 5. There are currently more than 20 Marilyn Monroe impersonators for hire in the Las Vegas Valley.
Sir Richard Branson announces purchase of Hard Rock Hotel
Sir Richard Branson, founder of the Virgin Group, has acquired the Hard Rock Hotel with partners and plans to turn it into a Virgin-branded property by the end of 2019.
3 Centennial High School students killed in Calif. crash (Full)
Three Centennial High School students were killed Thursday morning in Southern California when their vehicle was struck by a suspected drunken driver while they were enjoying their spring break, according to a family member of one of the victims.
Retail Restroom Sexual Assault Suspect
Las Vegas police are asking for help finding a man they said groped a woman in a south Las Vegas Valley restroom. (Las Vegas Metropolitan Police Department)
Calvary Christian Learning Academy, “There was no fair warning.”
Samantha O’Brien, whose three-year-old daughter attended the Calvary Christian Learning Academy daycare, found out Monday night when her daughter’s teacher called about the school closing.
Mojave Max at Springs Preserve
File footage of Mojave Max at Springs Preserve. (Springs Preserve)
TOP NEWS
News Headlines
Home Front Page Footer Listing
Circular
You May Like

You May Like