Clark County pulls millions from backup fund to make Allegiant Stadium payment

Posted at 11:23 PM, May 25, 2021
and last updated 2021-05-26 02:23:45-04

LAS VEGAS (KTNV) — Clark County leaders had to pull millions of dollars of backup funds to make a bond payment on Allegiant Stadium.

The county was about $11 million short on the payment for the new Raiders stadium.

This is the second time leaders have pulled money from the reserve fund during the pandemic.

Payments for bonds are supposed to come from room taxes but revenue is falling short because of low occupancy during the pandemic.

The stadium financing has always included this backup fund.

More than $54 million remains in it.