LOS ANGELES — Pat Mulroy, general manager of the Southern Nevada Water Authority, Monday announced plans to retire, according to the Las Vegas Sun.

Mulroy oversees the operations of the Southern Nevada Water Authority and the Las Vegas Valley Water District. The authority is responsible for acquiring, treating and delivering water to local agencies that collectively serve 2 million residents and nearly 40 million annual visitors

She helped created the SNWA, a cooperative agency formed in 1991 that includes seven member agencies, and has served as the general manager since its inception.

The SNWA was created to secure additional supplies of water for southern Nevada and to address water resource management and conservation on a regional basis. In 1996, the SNWA assumed all rights, duties and liabilities of the state and the Colorado River Commission.

Mulroy hasn't set a date for her retirement, but told the newspaper she would prepare an orderly transition.

The Bond Buyer reported on Sept. 11 that the Internal Revenue Service is auditing $604.1 million of general obligation limited tax bond bank bonds that were issued by Clark County, Nev. in 2006.

The bond proceeds were used to loan money to localities by purchasing local water revenue bonds used to finance the acquisition and construction of improvements for water projects for the Southern Nevada Water Authority.

They also were used to refund some of the county's previously issued general obligation limited tax bond bank bonds, according to the official statement.

The county disclosed the audit in an event notice filed in early September with the Municipal Securities Rulemaking Board's EMMA system.

In its letter, the IRS said that it "routinely examines municipal debt issuances to determine compliance with federal tax law requirements."

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