Nevada Revised Statutes (Last Updated: December 24, 2014) |
TITLE20 COUNTIES AND TOWNSHIPS: FORMATION, GOVERNMENT AND OFFICERS |
CHAPTER244A. Counties: Financing of Public Improvements |
COUNTY ECONOMIC DEVELOPMENT REVENUE BOND LAW |
NRS244A.739. Payment and contribution by county prohibited; exceptions.
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1. Except as otherwise provided in this section, a county shall not pay out of its general fund or otherwise contribute any part of the costs of acquiring, improving and equipping a project.
2. A county shall not use land already owned by the county, or in which the county has an equity interest for the construction of a project unless:
(a) The land was specifically acquired for the purpose of a project;
(b) The board determines that the land is no longer necessary for other purposes of the county; or
(c) The land is conveyed to a nonprofit organization pursuant to NRS 244.287.
3. The entire cost of acquiring, improving and equipping any project must be paid out of the proceeds from the sale of the bonds, but this provision does not prevent a county from accepting donations of property to be used as a part of any project or money to be used for defraying any part of the cost of any project, including the completion of the project by the lessee, purchaser or obligor without any cost or liability to the county.
(Added to NRS by 1967, 1750; A 1975, 433; 1997, 1737)