NOTICE OF INTENT TO ISSUE GENERAL OBLIGATION
BONDS OF THE WEST WENDOVER RECREATION DISTRICT
Notice is hereby given of the intention of the West Wendover Recreation District, Elko County, Nevada (the “District”), to issue general obligation bonds (additionally secured by pledged revenues) (the “Bonds”) of the District in an aggregate principal amount not to exceed $5.5 million for the purpose of financing the acquisition and construction of a recreation center and related facilities, establishing any necessary reserves for such Bonds, and paying costs incidental thereto.
The payment of the Bonds is to be secured by a pledge of certain revenues of the District. Pursuant to Section 350.020 of the Nevada Revised Statutes, as amended, no election is required to be held by the District prior to the issuance of the Bonds (except as provided in the following paragraph) if the Board of Trustees of the District determines that certain revenues to be so pledged will at least equal the amount required in each year for the payment of interest on and principal of the Bonds during the term thereof. Nevertheless, the Bonds will be general obligation bonds of the District and, to the extent that other moneys are not available for the payment of the Bonds, the Bonds will be payable from property taxes levied by the District.
Pursuant to the provisions of Section 350.020, Nevada Revised Statutes, as amended, no election is required to be held by the District prior to the issuance of the Bonds unless within 90 days after the date of publication of this notice of intention, a valid petition or petitions are filed with the Board of Trustees of the District in compliance with Nevada law, requesting that a bond election be called in the District to authorize the issuance of the Bonds. Such petitions must be signed by not less than five percent (5%) of the registered voters of the District. A petition shall be deemed filed with the Board of Trustees of the District upon delivery to the Board of Trustees of such petitions between the hours of 8:00 a.m. and 5:00 p.m. at the following address:
Board of Trustees
West Wendover Recreation District
950 West Florence Way
West Wendover, Nevada 89883
In the event a valid petition or petitions are so filed, the Board of Trustees of the District shall proceed to call and hold a bond election on the issuance of the Bonds. If no such petition is so filed within the 90-day period, or if the number of valid signatures filed within such period is less than the required number, the Board of Trustees of the District may proceed to issue the Bonds without an election, all as provided by law.
For further details, reference is hereby made to the resolution declaring the intention of the District to issue the Bonds within the parameters set forth therein, to be adopted by the Board of Trustees of the District on March 21, 2013.
Given this 7th day of March, 2013.
WEST WENDOVER RECREATION DISTRICT
| By | /s/ Kerry Robinson |
| Chairman, Board of Trustees |