Washoe County School District utilizes three types of debt:
· General obligation bonds that pledge property taxes received from the property tax levy of $0.3885 within Washoe County for school district debt.
· Medium term notes (notes with a term less than 10 years) that are paid by the General Fund.
· General obligation bonds that pledge sales and use tax revenues received from the sales and use tax rate of $0.54, which was approved by voters in November 2016. These bonds are commonly referred to as “WC-1 bonds” after the WC-1 ballot measure in November 2016.
As of July 1, 2018, the District had $677,880,000 of general obligation bonds and $4,834,194 of general obligation medium-term notes outstanding. This includes the District’s first sale of WC-1 bonds totaling $200 million. See chart for details.
The District is represented by an independent registered municipal advisor for all debt transactions. For more information, please click here.