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Nevada board OKs bonds for more than $100M in capital projects

CARSON CITY — State officials on Tuesday approved the sale of up to $100 million in bonds to finance a number of state capital improvement projects.

The state Board of Finance approved the bond resolution, which will allow for a sale in October and the funds becoming available in November. Interest rates for such sales are running at 3 percent to 3.25 percent for the 20-year bonds.

The board approved a number of other bond sale resolutions, including $15 million for open space, parks and natural resources projects.

Southern Nevada projects approved by the Nevada Legislature in 2017 include $37 million for a National Guard Readiness Center in North Las Vegas, but that project is federally funded.

Northern Nevada projects include $36 million to advance a veterans home in Reno, $41.5 million in state funding for a new engineering building at the University of Nevada, Reno and $42 million for a new DMV office in Reno.

The bond sale will use about $14.5 million to finish 2015 capital projects, up to $68.5 million for the 2017 projects and $14.5 million for the DMV office.

“I can’t wait to see all of these things start to come out of the ground,” said Gov. Brian Sandoval, a member of board.

Contact Sean Whaley at swhaley@reviewjournal.com or 775-461-3820. Follow @seanw801 on Twitter.

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