REVITALIZATION AND REDEVELOPMENT

Las Vegas City Charter art. VIII

in effect

Las Vegas City Charter, art. VIII, § 8.010 Legislative declaration.

Sec. 8.010 - Legislative declaration. The legislature by the inclusion of this article in this charter declares that: 1. All of the property which is to be acquired by the city pursuant to this article must be owned, operated, administered and maintained for and on behalf of all of the people of the city. 2. The exercise by the city of the purposes, powers, rights, privileges, immunities and duties which are established, granted, conferred and imposed in this article promotes the public health, safety, prosperity, security, comfort, convenience and general welfare of all of the people of the state and will be of special benefit to the inhabitants of the city and the property within the city. 3. The provisions in this article which involve the purposes, powers, rights, privileges, immunities, liabilities, duties and disabilities with respect to the city will serve a public purpose. 4. The necessity for this article results from: (a) The large population growth in the urban areas which are included within the city and its environs, which constitutes in the aggregate a significant portion of the state's population; (b) The numerous capital improvements and large amount of improved real property which is situate within the urban areas; (c) The need for capital improvements within certain areas within the city to provide needed services, facilities and other improvements for public use; (d) The existence of blighted or deteriorating areas within the city which constitutes a serious and growing menace which is condemned as injurious and inimical to the public health, safety and general welfare of the people of the state, and particularly of the city; (e) The lack of municipally owned capital improvements and the blighted or deteriorating areas which present difficulties and handicaps beyond remedy and control solely by the regulatory processes in the exercise of the police power; (f) Deficiencies which contribute substantially and increasingly to the problems of, and necessitate excessive and disproportionate expenditures for, crime prevention and the preservation of the public health, safety and general welfare; (g) Deficiencies which also constitute an economic and social liability which imposes onerous municipal burdens which decrease the tax base and reduce tax revenues, aggravate traffic hazards and the improvement of the traffic facilities; and (h) The fact that the areas in which these deficiencies exist consume an excessive proportion of the city's revenues because of the extra services which are required for police, fire, accident, hospitalization and other forms of public protection. 5. The menace which results from the foregoing factors is becoming increasingly direct and substantial in its significance and effect. 6. The benefits which the city will derive from the remedying of these deficiencies by making available additional revenues to defray indirectly the costs of undertakings within the city which are authorized by NRS 268.672 to 268.740, inclusive, the development of mixed-use and transit-oriented communities, and the redevelopment of blighted or deteriorating areas within the city will inure to the inhabitants and the property owners of the city as a whole, will be of general benefit to those people and will be of special benefit to the taxable real property within a tax increment area and to the owners of that property. 7. The method of paying the bond requirements of the securities which are issued pursuant to this article is equitable and enables the city to issue securities to defray the cost of any project. 8. A general law cannot be made applicable to the city or to the properties, powers, rights, privileges, immunities, liabilities, duties and disabilities which pertain to the city, as provided in this article, because of the number of atypical factors and special conditions with respect to them. 9. For the accomplishment of the purposes which are provided in this section, each of the provisions of this article must be broadly construed. (Ch. 517, Stats. 1983 p. 1420; A — Ch. 404, Stats. 2005 p. 1593)

Las Vegas City Charter, art. VIII, § 8.020 Definitions.

Sec. 8.020 - Definitions. Except as is provided in this article or where the context otherwise requires, the terms which are used or referred to in this article are as defined in NRS 268.672 to 268.740, inclusive, and, except as is otherwise provided in those sections, as defined in NRS 350.500 to NRS 350.720, inclusive, but the definitions which are contained in sections 8.030 to 8.110, inclusive, of this charter, except where the context otherwise requires, govern the construction of this article.

Las Vegas City Charter, art. VIII, § 8.030 "Bond requirements" defined.

Sec. 8.030 - "Bond requirements" defined. "Bond requirements" means the principal of, any prior redemption premiums due in connection with and the interest on the designated bonds or other securities.

Las Vegas City Charter, art. VIII, § 8.040 "Cost of undertaking" defined.

Sec. 8.040 - "Cost of undertaking" defined. "Cost of the undertaking," or any phrase of similar import, means the "cost of any project" as the latter phrase is defined in NRS 350.516.

Las Vegas City Charter, art. VIII, § 8.050 "Engineer" defined.

Sec. 8.050 - "Engineer" defined. "Engineer," without further qualification, means the city engineer or a firm of engineers which is employed by the city in connection with any undertaking or any project or the exercise of any power which is authorized in this article.

Las Vegas City Charter, art. VIII, § 8.060 "Facilities" defined.

Sec. 8.060 - "Facilities" defined. 1. "Facilities" means buildings, structures, utilities or other properties which pertain to any undertaking or project which is authorized in this article, including without limitation income-producing facilities and facilities which are acquired with the proceeds of bonds or other securities which are issued under that article. 2. The term includes all of the properties, real, personal, mixed or otherwise, which are acquired by the city or the public body, as the case may be, by any undertaking for any one or more projects through purchase, condemnation, construction or otherwise and are used in connection with any of those projects and related services or in any way which pertains to those projects or services, whether they are situate within or without, or both within and without, the corporate boundaries of the city or the territorial limits of the public body, as the case may be.

Las Vegas City Charter, art. VIII, § 8.070 "Mailed notice," "notice by mail" defined.

Sec. 8.070 - "Mailed notice," "notice by mail" defined. "Mailed notice" and "notice by mail" each means the giving by the engineer, city clerk or any of their deputies, as determined by the city council, of any designated written or printed notice which must be addressed to any designated person, or to the last known owner of each tract in any tax increment area, at his last known address by the deposit, at least 20 days before the designated hearing or other time or event, in the United States mails, postage prepaid as first-class mail.

Las Vegas City Charter, art. VIII, § 8.080 "Posting" defined.

Sec. 8.080 - "Posting" defined. "Posting" means posting any required notice in three public places at or near the site of any designated undertaking or project at least 20 days before the designated hearing or other time or event.

Las Vegas City Charter, art. VIII, § 8.090 "Tax increment account" defined.

Sec. 8.090 - "Tax increment account" defined. "Tax increment account" means a special account which is created pursuant to subsection 3 of section 8.210 of this charter and the other provisions in this article which are supplemental to it.

Las Vegas City Charter, art. VIII, § 8.100 "Tax increment area" defined.

Sec. 8.100 - "Tax increment area" defined. "Tax increment area" means the area which is specially benefited by an undertaking under this article, is designated by ordinance, as provided in subsection 3 of section 8.210 of this charter, and in which is located the taxable property the assessed valuation of which is the basis for the allocation of tax proceeds to any tax increment account under section 8.230 of this charter.

Las Vegas City Charter, art. VIII, § 8.110 "Undertaking" defined.

Sec. 8.110 - "Undertaking" defined. "Undertaking" means any enterprise to acquire, develop, improve or equip, or any combination thereof, any project which is authorized in NRS 268.672 to 268.740, inclusive, which is a mixed-use or transit-oriented community, or which could be undertaken by a redevelopment agency pursuant to NRS 279.382 to 279.680, inclusive, and to defray the cost of that enterprise, wholly or in part, by the issuance of the city's bonds or other securities which are payable, wholly or in part, from tax proceeds which are allocated to any tax increment account that pertains to the enterprise pursuant to section 8.230 of this charter. (Ch. 517, Stats. 1983 p. 1422; A — Ch. 639, Stats. 1985 p. 2087; Ch. 404, Stats. 2005 p. 1594)

Las Vegas City Charter, art. VIII, § 8.120 Requirements for posting.

Sec. 8.120 - Requirements for posting. 1. The posting of any notice which is required by this article must be verified by the affidavit or certificate of the engineer, city clerk, deputy or other person who posted the notice. The affidavit or certificate must be filed with the city clerk and retained in the records of the city at least until all of the bonds and other securities which pertain to any tax increment account have been paid in full or any claim which relates to those bonds or securities is barred by a statute of limitations. 2. The affidavit or certificate of posting is prima facie evidence of the posting of the notice in accordance with the requirements of this section.

Las Vegas City Charter, art. VIII, § 8.130 Requirements for notice by mail.

Sec. 8.130 - Requirements for notice by mail. 1. The name and address of any property owner to whom notice is required by this article may be obtained from the records of the county assessor or from any source which the clerk or the engineer deems to be reliable. Any list of the names and addresses which pertain to any tax increment area may be revised from time to time, but the list need not be revised more frequently than at 12-month intervals, if the list is needed for a period longer than 12 months. 2. The mailing of any notice which is required by this article must be verified by the affidavit or certificate of the engineer, city clerk, deputy, or other person who mailed the notice. The affidavit or certificate must be filed with the city clerk and, retained in the records of the city at least until all of the bonds and other securities which pertain to any tax increment account have been paid in full or any claim which relates to those bonds or securities is barred by a statute of limitations. 3. The affidavit or certificate of mailing is prima facie evidence of the mailing of the notice in accordance with the requirements of this section.

Las Vegas City Charter, art. VIII, § 8.140 Requirements for publication.

Sec. 8.140 - Requirements for publication. 1. Any publication which is required by this article, except as otherwise expressly provided or necessarily implied in this article, must be made at least once a week for 3 consecutive weeks by three weekly insertions, the first publication being at least 15 days before the designated time or event. Unless it is otherwise stated, it is not necessary that publication be made on the same day of the week in each of the 3 calendar weeks, but not less than 14 days must intervene between the first publication and the last publication. 2. Publication is complete, if more than one insertion is required, on the date of the last publication. 3. Any publication which is required by this article must be verified by the affidavit of the publisher, which must be filed with the city clerk and retained in the records of the city at least until all of the bonds and other securities which pertain to any tax increment account have been paid in full or any claim which relates to those bonds or securities is barred by a statute of limitations. 4. The affidavit of publication is prima facie evidence of the publication of the notice in accordance with the requirements of this section.

Las Vegas City Charter, art. VIII, § 8.150 Authorization of tax increment area.

Sec. 8.150 - Authorization of tax increment area. 1. Except as is provided in subsections 2 and 3, the city council, on behalf of the city and in its name, may at any time designate a tax increment area within the city to create a special account for the payment of bonds or other securities which are issued to defray the cost of the acquisition, improvement or equipment (or any combination thereof) of any project which is authorized in NRS 268.672 to 268.740, inclusive, including without limitation the condemnation of property for the undertaking, as are supplemented by NRS 350.500 to 350.720, inclusive, except as is otherwise provided in this article. 2. A tax increment area may not be created by the city council if the total land area of the tax increment area exceeds 10 percent of the total land area, or if the total initial assessed valuation of the tax increment area exceeds 10 percent of the total assessed valuation of the taxable property which is situate within the city. As used in this subsection, "initial assessed valuation" means the assessed value as shown on the assessment roll which was last equalized before the designation of the area. 3. The right-of-way property of a railroad company which is under the jurisdiction of the Interstate Commerce Commission must not be included in a tax increment area unless the inclusion of that property is mutually agreed upon by the city council and the railroad company. (Amended by the Nevada Legislature, 1985)

Las Vegas City Charter, art. VIII, § 8.160 Limitation upon acquisition of facilities.

Sec. 8.160 - Limitation upon acquisition of facilities. 1. The city may not acquire, as a part of its facilities, any property which, at the time of its acquisition, competes in any area with then-existing properties of a public body which provides the same or a similar function or service in the area, but the facilities of the city may complement the existing properties of a public body by providing in that area supplemental functions or services, if the existing properties provide inadequate functions or services. 2. The city may acquire properties of any public body which are situate in the city as one undertaking or a project of the city or an interest in that undertaking or project.

Las Vegas City Charter, art. VIII, § 8.170 Initiating procedure.

Sec. 8.170 - Initiating procedure. 1. Whenever the city council is of the opinion that the interests of the city require any undertaking which is to be financed under this article, the governing body by resolution shall direct the engineer to prepare: (a) Preliminary plans and a preliminary estimate of the cost of the undertaking, including without limitation all of the estimated financing costs which are to be capitalized with the proceeds of the city's securities and all other estimated incidental costs which relate to the undertaking. (b) A statement of the proposed tax increment area which pertains to the undertaking, the last finalized amount of the assessed valuation of the taxable property in the area and the amount of taxes (including in the amount the sum of all unpaid taxes, whether or not they are delinquent) which resulted from the last taxation of the property, based upon the records of the county assessor and the county treasurer; and (c) A statement of the estimated amount of the tax proceeds which are to be credited annually to the tax increment account during the term of the proposed securities which will be payable from those tax proceeds. 2. The resolution must describe the undertaking in general terms. 3. The resolution must state: (a) What part or portion of the expense of the undertaking must be paid with the proceeds of the securities which are issued by the city in anticipation of tax proceeds and are to be credited to the tax increment account and payable wholly or in part from those tax proceeds; (b) How the remaining part or portion of the expenses, if any, is to be financed; and (c) The basic security and any additional security for the payment of the securities of the city which pertain to the undertaking. 4. The resolution need not describe minutely each particular tract of taxable real property which is proposed to be included within the tax increment area, but may simply designate the tax increment area or its location in such a manner that the various tracts of taxable real property and taxable personal property which are situate within the tax increment area may be ascertained and determined to be either within or without the proposed tax increment area. 5. The engineer shall forthwith file with the city clerk the preliminary plans, estimate of cost and statements. 6. Upon the filing of the preliminary plans, estimate of cost and statements, the city council shall examine them, and, if it finds them to be satisfactory, by resolution provisionally order the undertaking.

Las Vegas City Charter, art. VIII, § 8.180 Provisional order resolution; notice of hearing.

Sec. 8.180 - Provisional order resolution; notice of hearing. 1. In the provisional order resolution, the city council must set the time, which must be at least 20 days after the adoption of the resolution, and the place when and where any representative of the Federal Government, the state or any public body or any person who resides in the city or owns taxable personal or real property in the city, or any representative of that person, may appear before the governing body and be heard concerning the propriety and advisability of the undertaking. 2. Notice of that hearing must be given: (a) By mail; (b) By posting; and (c) By publication. 3. The notice must: (a) Describe the undertaking and the project which relates to it (without mentioning minor details or incidentals); (b) State the preliminary estimate of the cost of the undertaking including all incidental costs, as are stated in the engineer's report which was filed with the city council pursuant to subsection 5 of section 8.170 of this charter; (c) Describe the proposed tax increment area which pertains to the undertaking, the last finalized amount of the assessed valuation of the taxable property in the area and the amount of taxes (including in the amount the sum of all unpaid taxes, whether or not they are delinquent) which resulted from the last taxation of the property, based upon the records of the county assessor and the county treasurer; (d) State what part or portion of the expense of the undertaking must be paid with the proceeds of the securities which are issued by the city in anticipation of tax proceeds and are to be credited to the tax increment account and payable wholly or in part from those tax proceeds; (e) State how the remaining part or portion of the expenses, if any, is to be financed; (f) State the basic security and any additional security for the payment of the securities of the city which pertain to the undertaking; (g) State the estimated amount of tax proceeds which are to be credited annually to the tax increment account which pertains to the undertaking during the term of the proposed securities which are payable from those tax proceeds and the estimated amount of any net revenue which will be derived annually from the operation of the project which pertains to the undertaking and is pledged for the payment of the securities; (h) State the estimated aggregate principal amount which is to be borrowed through the issuance of the securities (excluding proceeds of those securities to fund or refund outstanding securities) and the estimated total bond requirements of the securities; (i) State whether or not the governing body finds, determines and declares that the estimated tax proceeds which will be credited to the tax increment account and any net pledged revenue which will be derived annually from the operation of the project which pertains to the undertaking will be fully sufficient to pay the bond requirements of the securities as they become due; and (j) The time and place when and where the city council will consider the ordering of the undertaking and hear all of the complaints, protests, objections and other relevant comments with respect to it which may be made in writing by any natural person or body corporate which is designated in subsection 1 and filed with the city clerk at least 3 days before the hearing or made orally at the hearing by any natural person who is designated in subsection 1. 4. All of the proceedings may be modified or rescinded, wholly or in part, by resolution which is adopted by the city council at any time before the passage of the ordinance which orders the undertaking and creates the tax increment area and the tax increment account which pertains to the undertaking pursuant to subsection 3 of section 8.210 of this charter. 5. No substantial change in the undertaking, the preliminary estimates, the proposed tax increment area or other statements which relate to the undertaking may be made after the first publication, posting or mailing of the notice to property owners, whichever occurs first, except for the deletion of a portion of the undertaking and property from the proposed tax increment area, unless the city council, after ordering that change, provides for another provisional order hearing on all of the matters in the premises and for a notice of the hearing in the same manner as is provided in this article for the initial hearing, but a subsequent finalization of the amount of the assessed valuation of the taxable property in the tax increment area or a subsequent levy of taxes may not adversely affect the proceedings which are taken under this article. 6. The engineer also has the right to make minor changes in, and to develop the undertaking with respect to, the time, plans and materials which enter into the undertaking at any time before its completion.

Las Vegas City Charter, art. VIII, § 8.190 Provisional order hearing.

Sec. 8.190 - Provisional order hearing. 1. At the time and place of the hearing or at any adjournment of the hearing, the city council must proceed to read and consider all of the written complaints, protests, objections and other relevant comments which have been properly made and filed with the city clerk and to hear all oral comments which relate to the undertaking. 2. After the hearing has been concluded, after all of the written complaints, protests, objections and other relevant comments have been read and considered, and after the city council has heard and considered all of the oral comments which were made by persons who have an interest in the undertaking and has also considered any other relevant material which was offered, if the city council determines that the undertaking, or any part of it, is not in the public interest, the city council by resolution must make an order to that effect and may modify the proposed tax increment area to conform to that order. Thereupon, the undertaking or that part of the undertaking which was determined against by the order must stop and may not be begun again until the adoption of a new resolution. 3. Any complaint, protest or objection to the regularity, validity and correctness of the proceedings which were taken and the instruments which were made before the date of the hearing are deemed to have been waived unless they were presented in writing at the time and in the manner which is specified in this article.

Las Vegas City Charter, art. VIII, § 8.200 Appeal from adverse order.

Sec. 8.200 - Appeal from adverse order. If any person or public body, the state or the Federal Government filed a written complaint, protest or objection as provided in paragraph (j) of subsection 3 of section 8.050 of this charter, that person or public body, the state or the Federal Government, as the case may be, may commence, within 30 days after the city council has finally passed upon its complaint, protest or objection by resolution pursuant to subsection 2 of section 8.190 of this charter or by ordinance pursuant to subsection 3 of section 8.210 of this charter, an action or suit in any court of competent jurisdiction to correct or set aside the determination, but thereafter all actions or suits which attack the validity of the proceedings or the determination of the city council, or both, are perpetually barred.

Las Vegas City Charter, art. VIII, § 8.210 Final order of undertaking.

Sec. 8.210 - Final order of undertaking. 1. After the provisional order hearing and the consideration of all of the matters in the premises, or, in the event of a material change other than the deletion of a part of the undertaking and any modification of the tax increment area to conform to that deletion pursuant to subsection 2 of section 8.190 of this charter, after the supplemental provisional order hearing and the consideration of any supplemental matters in the premises, the city council shall determine whether or not to proceed under this article. If it has ordered any modification and desires to proceed, it shall direct the engineer appropriately to modify the plans, estimates and statements which were filed by him with the city clerk pursuant to subsection 5 of section 8.170 of this charter. 2. The engineer shall appropriately modify those plans, estimates and statements and forthwith file the modified plans, estimates and statements with the city clerk. 3. When the plans, estimates and statements are prepared, filed with the city clerk and are satisfactory to the city council, the city council shall by ordinance overrule all of the complaints, protests and objections which were not otherwise acted upon, unconditionally order the undertaking as modified, if modified, describe the tax increment area which pertains to the undertaking and create the tax increment account for the undertaking. 4. The ordinance may be introduced and adopted at one meeting by the unanimous vote of the entire city council as if an emergency exists and may be effective upon its adoption and publication by title, or it may be introduced and adopted as a regular measure, pursuant to section 2.110 of this charter.

Las Vegas City Charter, art. VIII, § 8.220 Amendment of ordinance.

Sec. 8.220 - Amendment of ordinance. 1. The city council may amend an ordinance which was adopted pursuant to subsection 3 of section 8.210 of this charter by adopting a supplemental ordinance, which must be introduced and adopted as a regular measure, to: (a) Modify the undertaking by specifying new projects or removing or modifying projects which were specified in the original ordinance; (b) Add areas to or remove areas from a tax increment area; or (c) Make such other changes, additions or deletions as the city council determines will further its objectives within the tax increment area. 2. If a proposed amendment would add any area to or remove any area from a tax increment area, notice by mail of the meeting of the city council at which the proposed amendment will be considered must be given to the last known owner or owners of each tract of land which is proposed to be added or removed. 3. The amount of taxes to be allocated to a tax increment account pursuant to subsection 2 of section 8.230 of this charter must be computed separately for the original tax increment area and each addition of land to the original tax increment area.

Las Vegas City Charter, art. VIII, § 8.230 Allocation, division and disposition of tax proceeds.

Sec. 8.230 - Allocation, division and disposition of tax proceeds. After the effective date of the ordinance which unconditionally orders the undertaking and provides for the tax increment financing, any tax which is levied upon the taxable property in the tax increment area each year by or for the benefit of the state, the city and any public body must be divided as follows: 1. That portion of the taxes which would be produced by the rate upon which the tax is levied each year by or for each of the taxing agencies upon the total sum of the assessed value of the taxable property in the tax increment area, as is shown on the assessment roll which is used in connection with the taxation of the property by the taxing agency, as that roll was last equalized before the effective date of the ordinance, must be allocated to and, when the taxes are collected, paid into the funds of the respective taxing agencies as taxes by or for the taxing agencies as the taxes on all other property are paid. 2. That portion of the levied taxes each year which are in excess of that amount must be allocated to and, when the taxes are collected, paid into the tax increment account which pertains to the undertaking to pay the bond requirements of any loan or any money which was advanced to, or any indebtedness, whether it is funded, refunded, assumed or otherwise incurred by, the city to finance or refinance, in whole or in part, the undertaking. Until the total assessed valuation of the taxable property in the tax increment area exceeds the total assessed value of the taxable property in the area, as shown by the last equalized assessment roll which is referred to in subsection 1, all of the taxes which are levied and collected upon the taxable property in the area must be paid into the funds of the respective taxing agencies. When the loans, advances and indebtedness, if any, and interest thereon, have been paid, all of the money which is thereafter received from taxes upon the taxable property in the area must be paid into the funds of the respective taxing agencies as the taxes on all other property are paid. 3. For the purposes of this section, the last equalized assessment roll which is referred to in subsection 1 is the assessment roll which was in existence on the fifteenth day of April which immediately precedes the effective date of the ordinance which unconditionally orders the undertaking and provides for the tax increment financing.

Las Vegas City Charter, art. VIII, § 8.240 Municipal securities.

Sec. 8.240 - Municipal securities. 1. The city may issue, to defray, wholly or in part, the cost of the undertaking, the following securities: (a) Notes; (b) Warrants; (c) Interim debentures; (d) Bonds; and (e) Temporary bonds. 2. Any net revenue which is derived from the operation of the project which is acquired, improved or equipped (or any combination thereof) under the undertaking must be pledged for the payment of the securities, and those securities must be made payable from that net pledged revenue, as the bond requirements of the securities become due from time to time, in accordance with the bond ordinance, trust indenture, or other proceedings which authorize the issuance of the securities or otherwise pertains to their issuance. 3. Additionally, the securities: (a) Must be made payable from tax proceeds which are accounted for in the tax increment account; and (b) May, at the city's option, be made payable from the taxes which are levied by the city against all of the taxable property within the city, without limitation of rate or amount except for the limitation which is provided in section 2 of article 10 of the Nevada constitution. (The city may also issue general obligation securities which are authorized by any law other than this article and are made payable from taxes without also making those securities payable from the net pledged revenues or tax proceeds which are accounted for in a tax increment account, or from both these revenue sources.) 4. Securities which are payable only in the manner which is provided in either paragraph (a) of subsection 3 or both subsection 2 and paragraph (a) of subsection 3 are special obligations of the city, are neither in their issuance subject to debt limitation which is specified in subsection 1 of section 7.040 of this charter or is otherwise imposed by law, nor, while they are outstanding, do they exhaust the city's debt-incurring power under subsection 1 of section 7.040 of this charter or other law and may be issued under the provisions of the NRS 350.500 to 350.720, inclusive, except as is otherwise provided in this article, without any compliance with the provisions provided in NRS 350.501 to 350.006, inclusive or NRS 350.010 to 350.070, inclusive, and without any approval or other preliminaries, except as is provided in NRS 350.500 to 350.720, inclusive. 5. Securities which are payable from taxes in the manner which is provided in paragraph (b) of subsection 3, regardless of whether or not they are also payable in the manner which is provided only in paragraph (a) of that subsection or in both subsection 2 and paragraph (a) of subsection 3, must be general obligations of the city, are in their issuance subject to the debt limitation which is specified in subsection 1 of section 7.040 of this charter or is otherwise imposed by law and, while they are outstanding, exhaust the city's debt-incurring power under subsection 1 of section 7.040 of this charter or other law, and those securities may be issued under NRS 350.500 to 350.720, inclusive, only after the issuance of city bonds is approved under the provisions of: (a) NRS 350.001 to 350.006, inclusive; and (b) NRS 350.010 to 350.070, inclusive, except for the issuance of notes or warrants pursuant to NRS 350.500 to 350.720, inclusive, which are payable out of the current year's revenues and are not to be funded with the proceeds of interim debentures or bonds in the absence of approval under the provisions of the law which are designated in paragraphs (a) and (b). 6. In the proceedings for the making of loans or the acquisition of any advance of money or the incurring of any indebtedness, whether it is funded, refunded, assumed or otherwise, for the purpose of financing or refinancing, in whole or in part, the undertaking, wholly or in part, the city shall irrevocably pledge that portion of the taxes which is mentioned in subsection 2 of section 8.230 of this charter for the payment of the bond requirements of the loans, advances or indebtedness. The provisions in NRS 350.500 to 350.720, inclusive, which pertain to net pledged revenues apply to the pledge to secure the payment of the tax increment bonds.

Las Vegas City Charter, art. VIII, § 8.250 Cooperative powers.

Sec. 8.250 - Cooperative powers. The city also has the following powers: 1. To accept contributions or loans from the Federal Government, the state or any public body (or any combination of those entities) to finance the planning, acquisition, improvement, equipping, maintenance and operation of any enterprise which pertains to an undertaking in which the city is authorized to engage and to enter into contracts and cooperate with and accept cooperation from the Federal Government, the state or any public body (or any combination of those entities) in the planning, acquisition, improvement, equipping, maintenance and operation and in the financing of the planning, acquisition, improvement, equipping, maintenance and operation of that enterprise in accordance with any legislation which Congress, the state legislature or any governing body or legislative body of any public body (or any combination of those bodies) may have adopted or may, after the effective date of this charter, adopt, under which aid, assistance and cooperation may be furnished by the Federal Government, the state or public body (or any combination of those entities) in the planning, acquisition, improvement, equipping, maintenance and operation or in the financing of the planning, acquisition, improvement, equipping, maintenance and operation of any enterprise, including without limitation the costs of engineering, architectural and economic investigations and studies, surveys, designs, plans, working drawings, specifications, procedures and other action which is preliminary to the acquisition, improvement or equipping of any project and to do anything which is necessary in order to avail itself of the aid, assistance and cooperation which may be available under any federal or state legislation which is now in existence or may, after the effective date of this charter, be enacted. 2. To enter into and perform, without any election, joint operating or service contracts and agreements, acquisition, improvement, equipment or disposal contracts or other arrangements, for any term which does not exceed 50 years, with the Federal Government, the state and any public body (or any combination of those entities) with respect to the undertaking, and any project or property which pertains thereto, whether it is acquired by the city, by the Federal Government, by the state or by any public body, and to accept grants and contributions from the Federal Government, the state, any public body, or any person (or any combination of those entities) in connection with those contracts, agreements and arrangements. 3. To enter into and perform, without any election, when it is determined by the city council to be in the public interest, contracts and agreements, for any term which does not exceed 50 years, with the Federal Government, the state, any public body or any person (or any combination of those entities) for the provision and operation by the city of any facilities, whether or not they pertain to the undertaking of the city or any project which relates to that undertaking and the payment periodically by the Federal Government, the state, the public body or the person (or any combination of those entities) to the city of amounts which are at least sufficient, if any, in the determination of the city council, to compensate the city for the cost of providing, operating and maintaining the facilities which serve the Federal Government, the state, the public body or the person, or otherwise. 4. To enter into and perform, without any election, contracts and agreements with the Federal Government, the state, any public body or any person (or combination of those entities) for or with respect to the planning, construction, lease or other acquisition, improvement, equipping, operation, maintenance, disposal and financing of any property which pertains to the facilities of the city or to any undertaking or any project of the city, or otherwise, including without limitation any contract or agreement for any term which does not exceed 50 years. 5. To cooperate with and act in conjunction with the Federal Government or any of its engineers, officers, boards, commissions or departments, or with the state or any of its engineers, officers, boards, commissions or departments, or with any public body or with any person in the acquisition, improvement or equipping of any facilities or any project which is authorized for the city or for any other work, act or purpose which is provided for in this article and to adopt and carry out any definite plan or system of work for that purpose. 6. To cooperate with the Federal Government, the state or any public body (or any combination of those entities) by an agreement with any or all of those entities by which the city may: (a) Acquire and provide, without cost to the cooperating entity, the land, easements and rights-of-way which are necessary for the acquisition, improvement or equipping (or any combination thereof) of any properties which pertain to the undertaking or any other facility; (b) Hold and save harmless the cooperating entity free from any claim for damages which may arise from the acquisition, improvement, equipping, maintenance and operation (or any combination thereof) of any facility; (c) Maintain and operate any facility in accordance with the regulations which are prescribed by the cooperating entity; and (d) Adopt and enforce regulations, if any, with respect to the facilities and which are satisfactory to the cooperating entity. 7. To provide, by any contract, for any term which does not exceed 50 years, or otherwise, without an election: (a) For the joint use of the personnel, equipment and facilities of the city, the Federal Government, the state and any public body (or any combination of those entities) including without limitation public buildings which are constructed by or under the supervision of the city council or by the governing body or legislative body of the other party to the contract, upon such terms and agreements and within such areas within the city as may be determined, for the promotion and protection of the public health, safety, prosperity, security, comfort, convenience, general welfare and property of the inhabitants of the city, the Federal Government, the state, any public body and any person of interest, as the case may be; and (b) For the joint employment of clerks, stenographers and other employees which pertain to the facilities, any project or the undertaking which now exist or may, after the effective date of this charter, be established in the city upon such terms and conditions as may be determined for the equitable apportionment of the expenses which result from that employment. 8. In connection with any facility of the city, or any part of any facility which is acquired or proposed in connection with an undertaking, or with any project, to consult with any regulatory or other agency of the Federal Government, the state or any public body and to submit plans, specifications or other instruments or documents (or any combination thereof) to that governmental agency for its review, recommendations and other comments.

Las Vegas City Charter, art. VIII, § 8.260 Public purpose.

Sec. 8.260 - Public purpose. The exercise of any power which is authorized in this article by the City Council on behalf of the City has been determined and is hereby declared to effect a public purpose, and any undertaking which is authorized in this article also effects a public purpose.

Las Vegas City Charter, art. VIII, § 8.270 Sufficiency of article.

Sec. 8.270 - Sufficiency of article. 1. This article, without reference to other statutes of the State, except as is otherwise expressly provided in this article, constitutes full authority for the exercise of the powers which are granted in this article. 2. No other law with respect to the exercise of any power which is granted in this article that provides for an election, requires an approval or in any way impedes or restricts the carrying out of the acts which are authorized by this article to be done may be construed as applying to any proceeding which is taken under this article or act done pursuant to this article, except as is provided in this article. 3. The powers which are granted by this article are in addition and supplemental to, and not in substitution for any other law, and the limitations which are imposed by this article do not affect the powers which are granted by any other law. 4. No part of this article repeals or affects any other law or part thereof, it being intended that this article merely provides a separate method of accomplishing its objectives, rather than the exclusive one.

Source: City of Las Vegas, Municipal Code and City Charter (Municode Library, library.municode.com)URL: https://library.municode.com/nv/las_vegas/codes/code_of_ordinances?nodeId=LAVECH_ARTVIIIREREFetched: 10/28/2026