Clerk's Office

Debt Management Commission

The Debt Management Commission reviews and approves debt issuance by the local government entities and oversight of the indebtedness and debt management plans of the entities. This commission is comprised of one representative of the county, one from the school district, one representative from the city in which the county seat is located; one representative of the other incorporated cities jointly, and two representatives of the public at large. This commission meets quarterly of each year and whenever business is presented. The existing members of the Debt Management Commission appoint the two public at-large members.

The DMC establishes the percentage of limitation on ad valorem tax and establishes priorities among essential and nonessential facilities and services. It considers proposals by municipalities to incur general obligation debt, to enter into an installment purchase agreement with a term of more than 10 years, or to levy a special elective tax. The DMC also contemplates proposals by general improvement districts to issue medium-term obligations, to borrow money, and to issue certain types of securities. Additionally, the DMC receives and considers annual statements of current and contemplated general obligation debt and special elective taxes, statements of debt management policies, and plans for capital improvement.

Authority

NRS 350.001

Additional Info

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Meetings