LAS VEGAS CONVENTION CENTER ACT OF 1977

[Rev. 6/29/2024 7:32:43 PM--2023]

Chapter 582, Statutes of Nevada 1977

AN ACT directing the Las Vegas Convention and Visitors Authority on the behalf and in the name of Clark County to issue bonds and other securities in an aggregate principal amount of $26,000,000 (other than any funding and refunding securities); designating the purpose for which the securities may be issued; providing for the payment of the securities by levies of general (ad valorem) taxes (except to the extent other revenues are available therefor) and with other designated revenues; providing certain powers and duties of the Authority and the Board of County Commissioners; and providing other matters properly relating thereto.

[Approved: May 16, 1977]

(Leadlines for sections have been supplied by the Legislative Counsel of the State of Nevada)

Whereas, The Legislature by this act determines, finds and declares that a general law cannot be made applicable to the acquisition of the additional facilities hereby authorized because of the number of atypical factors and special conditions concerning such acquisitions; now, therefor,

The People of the State of Nevada, represented in Senate and Assembly, do enact as follows:

Section 1. Definitions. As used in this act, unless the context otherwise requires:

1. “Authority” means the Clark County Fair and Recreation Board, designated by resolution pursuant to NRS 244.654 as the Las Vegas Convention and Visitors Authority.

2. “County” means Clark County, Nevada.

3. Other words and terms defined in the Local Government Securities Law have the meanings ascribed to them in that law.

(Ch. 582, Stats. 1977 p. 1531)

Sec. 2. Issuance of general obligations for financing extension and improvement of exposition and convention hall and related facilities.

The County, acting by and through the Authority, in addition to the powers elsewhere conferred upon the County, is by this act as supplemented by the provisions of the Local Government Securities Law directed, without obtaining the approval by the general obligation bond commission of the County, the approval of the registered voters of the County, or other or further preliminaries, to issue and to sell in one series or more at any time or from time to time but not after 6 years from the effective date of this act, as the Authority may determine, the County’s negotiable coupon general obligation bonds and any other general obligation securities, in an aggregate principal amount of $26,000,000 (other than any funding and refunding securities), or such lesser amount as may be determined by the Authority, for the purpose of defraying wholly or in part the cost of the extension and other improvement of the County’s exposition and convention hall facilities by the construction, other acquisition and equipment of:

1. A sports complex which may comprise amphitheaters, arenas, auditoriums, coliseums, stadiums, fieldhouses, rodeo facilities, gymnasiums, rinks, football facilities, soccer facilities, baseball facilities, softball facilities, basketball facilities, handball facilities, tracks, swimming facilities, golf courses, tennis courts, badminton facilities, squash facilities, bowling facilities, volleyball facilities, horseshoe pits and appurtenant facilities, firearm and shooting facilities, racing facilities, and other facilities for the performance of competitive activities carried on according to traditional forms or sets of rules, for enjoyment or recreation, diversion or pastime of participants and spectators, or any one or combination of such facilities, including, without limitation, any one or combination of such buildings, other structures, incidental improvements, furnishings, sports equipment, other equipment, sites and grounds, easements and other interests therein, appurtenant shower, locker and other bathhouse facilities, training facilities, storage and maintenance facilities, off-street parking facilities, beverage and food service facilities, other facilities for the comfort, welfare or health of participants or spectators or both participants and spectators, and other appurtenant facilities; and

2. A convention facility which may comprise exposition buildings, convention halls, amusement halls, dancehalls, concert halls, bandstand and orchestra facilities, recreation centers, library facilities, museum facilities, art galleries, and other recreational facilities, or any one or combination of such facilities, including, without limitation, any one or combination of such buildings, other structures, incidental improvements, furnishings, other equipment, sites and grounds, easements and other interests therein, appurtenant shower, locker and other bathhouse facilities, storage and maintenance facilities, off-street parking facilities, beverage and food service facilities, and other facilities for the comfort, welfare or health of persons using or attending such facilities (sometimes designated in this act collectively as “Sports and Recreation Facilities”); or

3. Any combination of such sports and recreation facilities,

Ê to be located in or adjacent to the central business district of the City of Las Vegas.

(Ch. 582, Stats. 1977 p. 1531)

Sec. 3. Bonds: Ratification by board of county commissioners. Each issue or series of bonds or other securities shall be ratified by the Board of Commissioners of the County by ordinance, which may be adopted pursuant to NRS 350.579.

(Ch. 582, Stats. 1977 p. 1532)

Sec. 4. Bonds: Payable from taxes ad valorem. Each issue or series of bonds or other securities shall be payable from general (ad valorem) taxes.

(Ch. 582, Stats. 1977 p. 1532)

Sec. 5. Bonds: Pledge of revenues. The Authority shall additionally secure the payment of the bonds by a pledge of the net revenues of the County’s exposition and convention hall facilities and incidental recreational facilities, including the sports and recreation facilities to be constructed, and of any other revenues of the Authority not otherwise pledged, without any other or further preliminaries.

(Ch. 582, Stats. 1977 p. 1532)

Sec. 6. Bonds: Applicability of Local Government Securities Law; signature. The bonds and any coupons shall be executed in the manner provided in the Local Government Securities Law, as from time to time amended; but the bonds shall also bear the manual or facsimile signature of the chair of the Authority.

(Ch. 582, Stats. 1977 p. 1532)

Sec. 7. Issuance of securities constituting general obligations. Except as otherwise provided in this act, the Authority or the Board of County Commissioners of the County, or both these governing bodies, as either or both may determine from time to time, on the behalf and in the name of the County, may borrow money, otherwise become obligated and evidence such obligations by the issuance of bonds and other securities of the County, constituting its general obligations, the payment of which may be additionally secured by a pledge of the revenues described in section 5 of this act, and in connection with the proposed sports and recreation facilities, their construction, other acquisition and equipment, either or both such governing bodies may otherwise proceed as provided in the Local Government Securities Law, as from time to time amended.

(Ch. 582, Stats. 1977 p. 1532)

Sec. 8. Powers supplemental; applicability of other laws. The powers conferred by this act are in addition and supplemental to, and the limitations imposed by this act do not affect, the powers conferred by any other law, general or special. Securities may be issued under this act without regard to the procedure required by any other such law except as otherwise provided in this act or in the Local Government Securities Law, except to the extent of any conflict of any provision therein with this act. Insofar as the provisions of this act are inconsistent with the provisions of any other law, general or special, the provisions of this act are controlling.

(Ch. 582, Stats. 1977 p. 1533)

Sec. 9. Liberal construction. This act being necessary to secure and preserve the public health, safety, convenience and welfare shall be liberally construed to effect its purposes.

(Ch. 582, Stats. 1977 p. 1533)

Sec. 10. Severability. If any provision of this act or the application thereof to any person, thing or circumstance is held invalid, such invalidity shall not affect the provisions or application of this act that can be given effect without the invalid provision or application, and to this end the provisions of this act are declared to be severable.

(Ch. 582, Stats. 1977 p. 1533)

Sec. 11. Effective date. This act shall become effective upon passage and approval.

(Ch. 582, Stats. 1977 p. 1533)