Property of trusts for furtherance of public functions exempted.

NRS 361.062 Property of trusts for furtherance of public functions exempted. All property, both real and personal, of a trust created for the benefit and furtherance of any public function pursuant to the provisions of general or special law is exempt from taxation; but moneys in lieu of taxes may be paid to the beneficiary pursuant to any agreement contained in the instrument creating the trust. (Added to NRS by 1971, 1036; A 1975, 1408)