Local Bonds and Franchises

North Las Vegas City Charter art. VII

in effect

North Las Vegas City Charter, art. VII, § 7.010 Debt limit.

Sec. 7.010 - Debt limit. 1. The City shall not incur an indebtedness in excess of 20 percent of the total assessed valuation of the taxable property within the boundaries of the City. 2. In determining any debt limitation under this section, there shall not be counted as indebtedness: (a) Any revenue bonds, unless the full faith and credit of the City is also pledged to their payment. (b) Any special assessment bonds, whether or not a deficiency in the proceeds of the assessments is required to be paid from the General Fund to the City. (c) Any short-term securities issued in anticipation of and payable from property taxes levied for the current fiscal year. (Ch. 573, Stats. 1971 p. 1226)

North Las Vegas City Charter, art. VII, § 7.020 Acquisition, operation of municipal utilities.

Sec. 7.020 - Acquisition, operation of municipal utilities. Except as otherwise provided in subsection 3 of section 2.280 and section 2.285, the City may, in the manner and for the purposes provided in this Charter and Nevada Revised Statutes as they apply to cities, grant franchises and acquire in any manner any public utility, and hold, manage and operate it, either alone or jointly, with any level of government or instrumentality or subdivision thereof. (Ch. 573, Stats. 1971 p. 1226; A—Ch. 565, Stats. 1997 p. 2760; Ch. 416, Stats. 2001 p. 2105)

North Las Vegas City Charter, art. VII, § 7.030 Water, sewer and electric light and power revenue bonds.

Sec. 7.030 - Water, sewer and electric light and power revenue bonds. 1. The City Council may issue bonds to obtain revenue for acquiring or constructing systems, plants, works, instrumentalities and properties needed in connection with: (a) The obtaining of a water supply. (b) The conservation, treatment and disposal of sewage waste and storm water. (c) The generation and transmittal of electricity for light and power for public and private uses. 2. In issuing bonds pursuant to subsection 1, the City Council shall follow procedures established in the Local Government Securities Law, as amended from time to time. (Ch. 573, Stats. 1971 p. 1226)

North Las Vegas City Charter, art. VII, § 7.040 Borrowing money.

Sec. 7.040 - Borrowing money. 1. Subject to the limitations imposed by this article, the City may borrow money for any corporate purpose, including without limitation any purpose expressly authorized by this Charter or by Nevada Revised Statutes for a city, and for such purpose may issue bonds or other securities. The Local Government Securities Law, as amended from time to time, applies to all securities so issued, except for securities issued under section 6.020. 2. Any property tax levied to pay the principal of or interest on such indebtedness must be levied upon all taxable property within the City, as provided in NRS 350.590 to 350.602, inclusive. 3. Any ordinance pertaining to the sale or issuance of bonds or other securities, including, without limitation, securities issued under section 6.020, may be adopted in the same manner as is provided for cases of emergency. A declaration by the City Council in any ordinance that it is of this kind is conclusive in the absence of fraud or gross abuse of discretion. (Ch. 573, Stats. 1971 p. 1226; A—Ch. 644, Stats. 1973 p. 1134; Ch. 723, Stats. 1973 p. 1443; Ch. 482, Stats. 1981 p. 974)

Source: City of North Las Vegas, Nevada, Municipal Code and City Charter (Municode Library, library.municode.com)URL: https://library.municode.com/nv/north_las_vegas/codes/code_of_ordinances?nodeId=NOLAVECH_ARTVIILOBOFRFetched: 11/1/2026