[Rev. 6/29/2024 7:33:14 PM--2023]
Chapter 167, Statutes of Nevada 2019
AN ACT relating to the Lake Tahoe Basin; requiring the issuance of general obligation bonds to carry out certain environmental improvement projects included in the second phase of the Environmental Improvement Program for the Lake Tahoe Basin; and providing other matters properly relating thereto.
[Approved: May 27, 2019]
(Leadlines for sections have been supplied by the Legislative Counsel of the State of Nevada)
Whereas, The Lake Tahoe Basin exhibits unique environmental and ecological conditions that are irreplaceable; and
Whereas, This State has a compelling interest in preserving, protecting, restoring and enhancing the natural environment of the Lake Tahoe Basin; and
Whereas, The preservation, protection, restoration and enhancement of the natural environment of the Lake Tahoe Basin is a matter of such significance that it must be carried out on a continual basis; and
Whereas, In October 1997, Governor Bob Miller, on behalf of the State of Nevada, signed a Memorandum of Agreement between the Federal Interagency Partnership on the Lake Tahoe Ecosystem, the States of Nevada and California, the Washoe Tribe of Nevada and California, the Tahoe Regional Planning Agency and interested local governments, in which the parties affirmed their commitment to the Tahoe Regional Planning Compact, to the sound management and protection of the resources within the Lake Tahoe Basin and the support of a healthy, sustainable economy and to achieve environmental thresholds for Lake Tahoe, and agreed to cooperate to carry out, including, without limitation, providing financial support for, the Environmental Improvement Program; and
Whereas, The costs of carrying out the Environmental Improvement Program have been apportioned among the Federal Government, the States of Nevada and California and the local governments and private property owners within both states; and
Whereas, The cost of carrying out the second phase of the Environmental Improvement Program for the State of Nevada and its political subdivisions is $100,000,000; and
Whereas, Section 3 of chapter 431, Statutes of Nevada 2009, at page 2417, authorized the State Board of Finance to issue general obligation bonds of the State of Nevada in a total face amount of not more than $100,000,000 to provide money to carry out the second phase of the Environmental Improvement Program; and
Whereas, Section 1 of chapter 431, Statutes of Nevada 2009, at page 2416, granted approval to the State Board of Finance to issue $4,420,000 of those general obligation bonds to provide money to carry out certain environmental improvement projects included in the second phase of the Environmental Improvement Program; and
Whereas, Section 1 of chapter 437, Statutes of Nevada 2011, at page 2638, granted approval to the State Board of Finance to issue an additional $12,000,000 of those general obligation bonds to provide money to carry out certain environmental improvement projects included in the second phase of the Environmental Improvement Program; and
Whereas, The general obligation bonds authorized by chapter 431, Statutes of Nevada 2009, may only be issued with the prior approval of the Legislature or the Interim Finance Committee and pursuant to a schedule established by the Administrator of the Division of State Lands of the State Department of Conservation and Natural Resources; now, therefore,
The People of the State of Nevada, represented in Senate and Assembly, do enact as follows:
Section 1. Environmental Improvement Program: Funding for certain projects; issuance of bonds. Money to carry out the Environmental Improvement Program for the Lake Tahoe Basin established pursuant to section 1 of chapter 514, Statutes of Nevada 1999, at page 2627, must be provided by the issuance by the State Board of Finance of general obligation bonds of the State of Nevada in a total face amount of not more than $8,000,000 pursuant to NRS 349.150 to 349.364, inclusive. The proceeds of the bonds issued pursuant to this section and any accrued interest thereon must be deposited in the Fund to Protect the Lake Tahoe Basin created pursuant to section 2 of chapter 514, Statutes of Nevada 1999, at page 2628, and, except as otherwise provided in section 2 of this act, must be used for the following activities related to the Environmental Improvement Program to be carried out by the State Department of Conservation and Natural Resources:
1. Continued implementation of forest health, restoration and fuels management projects;
2. Control and prevention of invasive terrestrial and aquatic species;
3. Enhancement of recreational opportunities;
4. Protection of sensitive species and improvement of wildlife habitat; and
5. Water quality, erosion control and stream restoration and enhancement projects of the Environmental Improvement Program to be carried out pursuant to grants and project agreements.
(Ch. 167, Stats. 2019 p. 891; A—Ch. 99, Stats. 2023 p. 502)
Sec. 2. Use of authorized money for other projects upon approval of the Interim Finance Committee. The Division of State Lands may use money authorized pursuant to section 1 of this act for a project other than a project listed in section 1 of this act if the Interim Finance Committee approves such a use in writing before the Division of State Lands engages in the project.
(Ch. 167, Stats. 2019 p. 891)
Sec. 3. Legislative findings and declaration. The Legislature finds and declares that the issuance of securities and the incurrence of indebtedness pursuant to this act:
1. Are necessary for the protection and preservation of the natural resources of this State and for the purpose of obtaining the benefits thereof; and
2. Constitute an exercise of the authority conferred by the second paragraph of Section 3 of Article 9 of the Constitution of the State of Nevada.
(Ch. 167, Stats. 2019 p. 891)