New editions of the State Legislative Tracker and The Policy Tracker available now!

Nevada Parks and Wildlife Bonds, Question 5 (1990)

From Ballotpedia
Jump to: navigation, search

The Nevada Parks and Wildlife Bonds Question, also known as Question 5, was a bond issue on the November 6, 1990 election ballot in Nevada, where it was approved.

Election results

Question 5 (Parks and Wildlife Bonds)
Approveda Yes 206,790 66.0%

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?[1]

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.
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.[1]

See also

Suggest a link

External links