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May 27, 2010 – North Las Vegas, NV – In anticipation today's bond sale, the City has been assigned strong bond ratings from each of the three top bond rating agencies. The bond ratings of A+ and Aa2, from the two largest rating agencies -- Standard & Poor’s and Moody’s respectively – have remained the same, though the rating from Fitch of AA- was downgraded from prior rating of AA issued in May 2006.
“We are pleased that the two major rating agencies maintained our bond rating, citing strong financial management, reserve levels and proactive budget actions by Council,” North Las Vegas Finance Director Phil Stoeckinger said. “Yet, we understand the effect the severe economic downturn has had on property values and consumer spending, which are out of our control.”
These bond ratings show the City’s general obligation bonds are of high credit quality, which means the City can borrow at better rates and ultimately reduce the cost of issuing future debt.
“I am confident that under our City Council's leadership and policy guidance and continued efforts by our talented Finance staff, the City will increase its bond ratings when the economy begins its recovery,” Acting City Manager Maryann Ustick said.
According to Standard & Poor, “The A+ rating reflects the city’s strong financial practices and policies and an experienced and proactive management team whose efforts are expected to continue to provide stability to City reserve levels.”
Fitch cited the City’s strong financial operations through 2009 with surpluses resulting in solid fund balances, which have been weakened by the economic downturn. Moody’s indicated that management has taken prudent action to offset revenue declines, but the City’s financial operations have been and will continue to be under considerable pressure due to a combination of the ongoing economic downturn and the City’s reliance on economically sensitive revenues.
All three bond rating agencies recognized the City’s strong financial management, historically strong reserve levels, moderate debt burden and the proactive Council actions to balance the budget.
The proceeds from the $145 million bond sale will be used to complete the City’s Water Reclamation Facility, which is about 60 percent complete, ahead of schedule and under budget.
For more information about the City’s bond ratings, please call North Las Vegas Finance Director Phil Stoeckinger at (702) 633-1462.
May 27, 2010 – North Las Vegas, NV – The North Las Vegas Municipal Court has collected more than $750,000 in fines related to bench warrants, since offering a 50 percent reduction on warrants paid in full. The court has closed more than 2,500 cases under the discount program.
The discount began in March and has been extended twice. It has been extended a final month through June 30, in an effort to collect nearly $40 million in fines and to reduce the number of open cases.
“We have been pleased with the public’s response to this discount and we would like to extend it just a little longer for those who have put off resolving their cases until now,” said Court Administrator Debbie Miller said. “But this will be the final extension.”
Even after the discount offer ends, people who receive warrants have a variety of options for closing their cases, paying fines and getting court dates if there are court-mandated requirements. People who receive warrants may qualify to be placed on a payment plan or sign up for the work program. Additionally, for people who are unable to appear at the court, resolving their cases could be just a phone call away.
For more information, call the North Las Vegas Municipal Court Warrant Division at (702) 633-2929, 24 hours a day, 7 days a week.
May 26, 2010 – North Las Vegas, NV – The City of North Las Vegas presents FREE concerts on a mobile stage at Nature Discovery Park, 2627 Nature Park Drive.
The Starlite Music Series features concerts by top-rated local artists. The first next concert be John Earl and the Boogie Man Band (Classic Rock) from 8 p.m. to 10 p.m. on Saturday, June 5.
Food and beverages will be available for purchase. Please, leave pets at home.
Sponsors of this year’s series include Grace Point Church and Cox Communications – Your Friend in the Digital Age.
For more information or the complete Starlite Music schedule, call the North Las Vegas Community Events Office at 633-2650 or visit www.cityofnorthlasvegas.com.
May 25, 2010 – North Las Vegas, NV – The City of North Las Vegas has set up a hotline residents can call to report broken or burned out street lights. Residents who call (702) 633-DARK (3275) can report the street light problem to a staff member who answers this line. The number is automatically forwarded to the City’s Traffic Operations main number where residents can leave a message after business hours.
For more information, call North Las Vegas Traffic Engineer Ish Garza at (702) 633-1224.
May 24, 2010 – North Las Vegas, NV – The City this month launched its Plans Review and Inspection Tracking online program to improve customer service and save money and staff time. North Las Vegas residents, contractors and builders will now be able to track building permit applications and inspection progress through the Building Safety Web page accessed through the Departments menu at www.cityofnorthlasvegas.com.
When construction plans are submitted to the Permit Application Center for reviews, customers now have instant access to track its activities. The online system instantly links to approval and denial activities in various departments so that customers can see exactly what is happening with their reviews. Essential details, such as plan examiners’ names and phone numbers, are listed so customers can connect with staff to discuss their reviews.
The North Las Vegas Building Safety Division’s consolidated comments letter will also be available through this link for customer convenience. This package of services will provide transparency and control of the review process to all parties involved – owners, contractors and design professionals.
Customers already can schedule inspections through the City’s Web site, but they now have instant access to inspection results as well. The Plans Review and Inspection Tracking program features a one-click option for customers to reschedule inspections if their initial inspection failed. This program also provides information for permits that require additional fees for failed inspections.
For more information, call (702) 633-1536.