Nevada Parks and Wildlife Bonds, Question 5 (1990)
|Question 5 (Parks and Wildlife Bonds)|
Official results via: Nevada Legislative Counsel Bureau - Research Division
Text of measure
The language that appeared on the ballot:
- Shall the State of Nevada be authorized to issue general obligation bonds in an amount of not more than $47.2 million to improve park facilities, create new parks and project the state's wetlands and wildlife resources?
The language that appeared in the voter's guide:
- If this proposal is approved, the State of Nevada would issue bonds in an amount of not more than $47.2 million to protect and preserve natural resources in the state. Of the total bond issue, $34.2 million would be allocated to the Division of State Parks of the State Department of Conservation and Natural Resources to plan new parks, acquire parkland and improve existing park facilities. Of this amount, $13.3 million would be allocated to Clark County to develop a county regional wetlands park in the Las Vegas Wash and $5 million would be allocated to Washoe County to develop county regional parks. The Department of Wildlife would also be allocated $13 million to acquire and protect fish and wildlife habitats, to purchase water rights for wetlands, and to protect sensitive species. A "Yes" vote is a vote to approve the issuance of the bonds. A "No" vote is a vote to disapprove the issuance of the bonds.
- FISCAL NOTE
- Financial Impact-Yes. Approval of this proposal would allow the State of Nevada to incur a bond indebtedness of up to $47.2 million which must be repaid, with interest, by public funds over several years. The exact financial effect in any given year will be determined by the timing and amounts of the bonds issued, the interest rates, and the method of repayment. If a statewide property tax is chosen to repay the bonds, a tax rate of up to 2.2¢ per $100 of assessed value may be required. The required tax rate would decline over time as total state assessed value increases. A 2.2¢ tax rate on a $100 thousand home is $7.70 annually. If the bonds are not all sold immediately, but rather on an "as needed" basis, the estimated required property tax rate would probably not exceed 2.0¢ per $100 of assessed value.