SOUTHERN NEVADA WATER SYSTEM ACT OF 1967

[Rev. 6/29/2024 7:36:47 PM--2023]

Chapter 268, Statutes of Nevada 1967

AN ACT authorizing the acquisition of certain water service facilities and properties appurtenant thereto and the issuance of bonds and other securities by the State of Nevada, acting by and through the Colorado River Commission of Nevada; relating to the construction, other acquisition, equipment, operation, maintenance, improvement, and disposition of properties appertaining to such facilities; otherwise concerning such securities and properties, and revenues, taxes, and pledges and liens pertaining thereto by reference to the State Securities Law; and providing other matters properly relating thereto.

[Approved: April 5, 1967]

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

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

Section 1. Definitions. Terms used or referred to in this act are as defined in the State Securities Law; but the following terms, wherever used or referred to in this act, unless the context otherwise requires, have the meanings ascribed to them in sections 2 to 6, inclusive, of this act.

(Ch. 268, Stats. 1967 p. 797)

Sec. 2. “Commission” defined. “Commission” means the Colorado River Commission of Nevada.

(Ch. 268, Stats. 1967 p. 797)

Sec. 3. “Facilities” defined. “Facilities” means collectively the federal facilities, as defined in this act, and the state facilities, as defined in this act.

(Ch. 268, Stats. 1967 p. 797)

Sec. 4. “Federal facilities” defined. “Federal facilities” means the works, facilities and appurtenances constructed by the Federal Government under the authorization of the Southern Nevada Water Project Act, or by the State of Nevada pursuant to this act and other acts supplemental thereto, or by both the Federal Government and the State, including, without limitation, all pipelines, conduits, pumping plants, intake facilities, aqueducts, laterals, water storage and regulatory facilities, electric substations, and related works to be constructed for the purpose of transporting water from storage in Lake Mead to points of delivery established for the project within Clark County, Nevada.

(Ch. 268, Stats. 1967 p. 797)

Sec. 5. “Project” defined. “Project” means the construction and other acquisition of the federal facilities, as defined in this act, and of the state facilities, as defined in this act, by the State, acting by and through the Commission, as authorized by this act and by other acts supplemental thereto.

(Ch. 268, Stats. 1967 p. 797)

Sec. 6. “State facilities” defined. “State facilities” means the works, facilities and appurtenances constructed by the State of Nevada pursuant to this act and other acts supplemental thereto for the acquisition of a water plant for the treatment of raw water and the disposal of potable water for industrial, commercial, residential, culinary, or domestic use, or any combination thereof, including, without limitation, collection and disposal lines, lands, easements, rights in land, water rights, distribution and storage reservoirs, other storage facilities, trunk, connection and other water mains, inlets, tunnels, flumes, conduits, canals, hydrants, filtration works, meters, pumping and gaging stations, and equipment, in supplementation of the federal facilities, as herein defined.

(Ch. 268, Stats. 1967 p. 797)

Sec. 7. Powers of Commission; limitations on issuance of securities.

1. The Commission, on the behalf and in the name of the State, may:

(a) Acquire, hold, operate, maintain, and improve the facilities;

(b) Acquire, hold, operate, maintain, improve and dispose of properties appertaining to the facilities, including, without limitation, water and water rights, for the benefit and welfare of the people of the State;

(c) Acquire the facilities, wholly or in part, directly by construction contract or otherwise, or indirectly by contract with the Federal Government, or any combination thereof, as the Commission may from time to time determine;

(d) Borrow money and otherwise become obligated in a total principal amount of not exceeding $10,000,000.00 to defray wholly or in part the cost of acquiring the state facilities, and issue state securities to evidence such obligations; and

(e) Borrow money and otherwise become obligated in a total principal amount of not exceeding $52,000,000.00 to defray wholly or in part the cost of acquiring the federal facilities, and issue state securities to evidence such obligations.

2. The power to issue securities hereunder in a total principal amount of not exceeding $52,000,000.00 under paragraph (e), subsection 1 of this section, shall decrease to the extent, for the acquisition of the federal facilities, Congress by federal act appropriates funds, the Bureau of the Budget apportions funds, the Bureau of Reclamation allots funds, the Federal Government is obligated to pay earnings under contract for the construction and other acquisition of the federal facilities, or any part thereof, and the State is obligated by contract with the Federal Government to pay to it sums equal to such earnings and any incidental expenses due under such contract; but such power to issue securities shall not be decreased because of any moneys due under such contract from the State to the Federal Government in the nature of interest charges to compensate it for moneys advanced by it until their repayment by the State.

(Ch. 268, Stats. 1967 p. 797)

Sec. 8. Issuance of securities; revenues pledged for payment.

1. Subject to the limitations as to maximum principal amounts in section 7 of this act, the Commission may issue to defray the cost of the project, or any part thereof, at any time or from time to time after the adoption of this act, but not after 10 years from the effective date thereof, as the Commission may determine, the following types of state securities in accordance with the provisions of the State Securities Law:

(a) General obligation bonds and other general obligation securities payable from taxes, the payment of which securities is additionally secured with net pledged revenues;

(b) Revenue bonds and other securities constituting special obligations and payable from net pledged revenues; or

2. Nothing in this act shall be construed as preventing the Commission from funding, refunding or reissuing any outstanding state securities issued by the Commission at any time as provided in the State Securities Law.

3. Subject to existing contractual obligations, the net revenues pledged, if any, for the payment of state securities by the Commission may be derived from the operation of all or any part of the income-producing facilities under the jurisdiction of the Commission, including, without limitation, the facilities acquired by the project.

(Ch. 268, Stats. 1967 p. 798)

Sec. 9. Approval of contracts by Governor. Any and all contracts entered into pursuant to the provisions of this act shall not be binding upon the State until executed or otherwise approved by the Governor, including, without limitation, the execution of securities in the manner and as otherwise provided in the State Securities Law.

(Ch. 268, Stats. 1967 p. 799)

Sec. 10. Powers supplemental; applicability of other laws. The powers conferred by this act shall be in addition to and supplemental to, and the limitations imposed by this act shall not affect, the powers conferred by any other law, general or special; and securities may be issued hereunder without regard to the procedure required by any other such law except as otherwise provided in this act or in the State Securities Law. Insofar as the provisions of this act are inconsistent with the provisions of any other law, general or special, the provisions of this act shall be controlling.

(Ch. 268, Stats. 1967 p. 799)

Sec. 11. 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. 268, Stats. 1967 p. 799)

Sec. 12. Effective date. This act shall become effective upon passage and approval.

(Ch. 268, Stats. 1967 p. 799)