Municipal securities.
Las Vegas City Charter, art. VIII, § 8.240
in effectSec. 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.
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_ARTVIIIRERE_S8.240MUSEFetched: 10/28/2026