An LRS Bianchi type-V cosmological models representing a viscous fluid distribution with a time dependent cosmological term $\Lambda$ is investigated. To get a determinate solution, the viscosity coefficient of bulk viscous fluid is assumed to be a power function of mass density. It turns out that the cosmological term $\Lambda(t)$ is a decreasing function of time, which is consistent with recent observations of type Ia supernovae. Various physical and kinematic features of these models have also been explored.
