Article CH-7 ARTICLE VII Local Bonds and Franchises

ARTICLE VII

LOCAL BONDS AND FRANCHISES

Sec. 7.010 Acquisition, operation of municipal utilities. 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.

Sec. 7.020 Borrowing money.

1. Subject to the limitations imposed by this article, the City may, for any corporate purpose, including without limitation any purpose expressly authorized by this charter or by Nevada Revised Statutes for a city:

(a) Borrow money: and

(b) 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 pursuant to 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.

(Ord. AB11, Amended, 10/02/2001, Prior Text; Legislative Updates, Amended, 11/13/2000, Prior Text; Article VII, Amended, 10/23/2000, Prior Text)