Reno Council Gives initial OK for Cabela's bonds

The Reno City Council has given preliminary approval for outdoor retailer Cabela's to use future sales tax revenues to help finance its store in Verdi, expected to open in November.

The Nebraska-based company will be the first in the Nevada to take advantage of the special STAR bond financing passed by state lawmakers in 2003.

It would allow Cabela's to use up to 75 percent of sales taxes generated at the store over 20 years to pay off the bonds.

A final vote on the bond ordinance is scheduled Oct. 10.