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November 28, 2009

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Government bonds expected to keep county’s trash collection prices down

Friday, Oct. 28, 2005 | 7:43 a.m.

CARSON CITY -- The state Board of Finance on Tuesday authorized the issuance of $30 million in tax-exempt bonds so that Republic Services Inc. can improve and expand its garbage collection business in Clark County.

Republic plans to spend $13.5 million to expand its landfill at Apex and buy new trucks and garbage containers for $15 million. Another $1.4 million is set aside for engineering costs.

Gov. Kenny Guinn, chairman of the Finance Board, said using the tax-exempt private activity revenue bonds will save Republic millions of dollars over the 30-year life of the bonds.

The governor said using tax-exempt bonds would also help keep rates down for Clark County residents.

"Historically. the price has been very good for picking up the garbage," said Guinn, who owns a home in Las Vegas.

Republic is currently rated Baa2 by Moody's Investors Service and BBB+ by Standard and Poor's.

The company has the exclusive license for garbage collection in Clark County.

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