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Public Revenue Bonds Did Not Make Project "Public" Project Financing

Monday, April 03, 2006 06:08 pm

Public Revenue Bonds Did Not Make Project "Public" Project Financing

The Nevada Supreme Court has ruled that a nonprofit corporation's use of public revenue bonds did not make a project "public"for purposes of a prevailing wage statute.

The Carson-Tahoe Hospital, a Nevada nonprofit corporation, planned to construct a new medical facility on hospital-owned land in Carson City. The hospital financed the project through $95 million in economic development bonds authorized by Carson City and issued pursuant to the Nevada County Economic Development Revenue Bond Law.

The hospital awarded a construction contract and informed the Building and Construction Trades Council of [...]

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