Clark County made its second straight bond payment on June 1st tapping the emergency reserve fund. Photo Credit: Kirby Lee-USA TODAY Sports
When State of Nevada and Clark County officials moved forward with implementing an increase of the local hotel tax to fund the Las Vegas Raiders new Allegiant Stadium, it was careful to plan on doomsday scenarios including the creation of a reserve fund to protect the taxpayer from financial risk.
Fortunately, the financing for the Stadium Authority bonds included the funding of a debt service reserve fund to weather economic declines like the one Las Vegas is currently experiencing due to the pandemic.