Title 22

NRS 279.6093 Employment plan by developer in proposal for redevelopment project; contents; duty to submit plan to Nevada Commission on Minority Affairs and Southern Nevada Enterprise Community Board; plan is public record. 1. Except as otherwise provided in NRS 279.6094, if an ag…

NRS 279.6094 Employment plan required for redevelopment project built as public work. A public agency that uses redevelopment funds for the design or construction of a redevelopment project being built as a public work pursuant to chapter 338 of NRS shall submit an employment pla…

NRS 279.6096 Partial withholding of incentive by agency. 1. Except as otherwise provided in subsection 2, if an agency proposes to provide an incentive to a developer for a redevelopment project, an amount equal to 10 percent of the amount of the proposed incentive must be withhe…

NRS 279.6097 Progress report on employment plan by developer of redevelopment project; contents; duty of agency to submit report to Nevada Commission on Minority Affairs and Southern Nevada Enterprise Community Board; report is public record. 1. A developer that receives an incen…

NRS 279.6098 Report by developer of information relating to redevelopment project; penalty for failure to submit report. 1. Except as otherwise provided in subsection 2, a developer that receives incentives from an agency for a redevelopment project shall, upon completion of the …

NRS 279.6099 Appeal of refusal to pay amount of incentive withheld by agency. 1. A developer may appeal the refusal by an agency to pay the amount provided for in NRS 279.6096 to the legislative body of the community. 2. In an appeal, the developer has the burden of demonstrating…

NRS 279.60993 Progress report by business that relocates into redevelopment area; contents; duty to submit report to Nevada Commission on Minority Affairs and Southern Nevada Enterprise Community Board; report is public record. 1. A business that receives an incentive to relocate…

NRS 279.610 Appropriations. 1. At any time after the agency created for any community becomes authorized to transact business and exercise its powers, the legislative body of the community may appropriate to the agency such amounts as the legislative body deems necessary for the …

NRS 279.612 Annual budget. 1. Each agency transacting business and exercising powers under this chapter shall annually submit to the legislative body of the community a proposed budget of its administrative expenses. 2. The legislative body may adopt an annual budget for the admi…

NRS 279.614 Agency’s administrative fund. The money appropriated for administrative expenses shall be kept in the treasury of the community in a special fund to be known as the community redevelopment agency administrative fund, and money shall be drawn from the fund to meet the …

NRS 279.616 Money appropriated to defray administrative expenses; agency not department of community; status of agency’s employees. The money appropriated by the legislative body to the community redevelopment agency administrative fund is money granted by the community to defray…

NRS 279.618 Agency’s reports to legislative body. Each agency shall file with the legislative body a detailed report of all of its transactions, including a statement of all revenues and expenditures, at monthly, quarterly or annual intervals as the legislative body may prescribe…

NRS 279.619 Limitation on issuing securities or incurring indebtedness. 1. Securities must not be issued and no indebtedness may be incurred in any other manner, by or on behalf of an agency to finance, in whole or in part, a redevelopment plan beyond 20 years after the date on w…

NRS 279.620 Revolving fund: Establishment; sources. 1. At any time after it has adopted a resolution declaring that there is need for an agency to function in the community, the legislative body may establish a redevelopment revolving fund to be kept in the treasury of the commun…

NRS 279.622 Issuance and sale of general obligation bonds: Purposes; amount authorized. 1. The community may also issue and sell its general obligation bonds for the purpose of providing funds with which to redeem before maturity, retire at maturity, or purchase agency bonds issu…

NRS 279.624 Agreement with respect to amount of general obligation bonds where plan contains provision authorized by NRS 279.676. If the redevelopment plan contains the provision authorized by NRS 279.676, the agency and the legislative body of the community may, either before or…

NRS 279.625 Special election may be held only if emergency exists. 1. For the purposes of NRS 279.626 and 279.636, a special election may be held only if the legislative body of the community determines, by a unanimous vote, that an emergency exists. 2. The determination made by …

NRS 279.626 Issuance of general obligation bonds: Manner; limitations; exceeding limitation. Except as otherwise provided in this chapter, any general obligation bonds issued by any community pursuant to NRS 279.620 to 279.632, inclusive, must be authorized and issued in the mann…

NRS 279.628 Expenditures from revolving fund. 1. By resolution of the legislative body adopted by a majority vote any money in the redevelopment revolving fund may be expended from time to time for: (a) The acquisition of real property in any redevelopment area. (b) The clearance…

NRS 279.630 Sale or lease of property acquired from revolving fund: Minimum amount; redeposit of proceeds; approval of sale or lease. 1. No real or personal property, or any interest therein, acquired or constructed in whole or in part with money from the redevelopment revolving …

NRS 279.632 Abolition of revolving fund; transfer of money. The legislative body of any community may abolish the redevelopment revolving fund whenever it finds that the purposes for which it was established have been accomplished. At the time of abolishing the fund, the legislat…

NRS 279.634 Bonds: Issuance for corporate or refunding purposes. From time to time an agency may issue bonds for any of its corporate purposes. An agency may also issue refunding bonds for the purpose of paying or retiring bonds previously issued by it. (Added to NRS by 1959, 667…

NRS 279.636 Types of bonds which agency may issue; additional security for bonds. 1. An agency may issue such types of bonds as it may determine, including bonds on which the principal and interest are payable: (a) Exclusively from the income and revenues of the redevelopment pro…

NRS 279.638 Liability on bonds; limitation of indebtedness. 1. Neither the members of an agency nor any persons executing the bonds are liable personally on the bonds by reason of their issuance. 2. Unless the full faith and credit of a community is pledged, the bonds and other o…

NRS 279.640 Authorization of bonds; sale. 1. The agency may authorize bonds by resolution. The resolution, trust indenture or mortgage must provide for: (a) The issuance of the bonds in one or more series. (b) The date the bonds will bear. (c) The maturity dates of the bonds. (d)…

NRS 279.642 Validity of bonds: Termination of office. If any agency member or officer whose signature appears on bonds or coupons ceases to be such member or officer before delivery of the bonds, the signature of the member or officer is as effective as if the member or officer h…

NRS 279.644 Negotiability of bonds. Bonds issued pursuant to this chapter are fully negotiable. (Added to NRS by 1959, 669)

NRS 279.646 Validity of bonds: Presumptions. In any action or proceeding involving the validity or enforceability of any bonds or their security, any such bond reciting in substance that it has been issued by the agency to aid in financing a redevelopment project is conclusively …

NRS 279.648 Issuance of bonds: Pledge of revenues; encumbrances of property. An agency may: 1. Pledge all or any part of its gross or net rents, fees or revenues to which its right then exists or may thereafter come into existence. 2. Encumber by mortgage, deed of trust or otherw…

NRS 279.650 Issuance of bonds: Limitations on further indebtedness and transactions. An agency may covenant: 1. Against pledging all or any part of its rents, fees and revenues. 2. Against encumbering all or any part of its real or personal property, to which its right or title t…

NRS 279.652 Issuance of bonds: Use of proceeds; lost or destroyed bonds; extension of time for payment; redemption. An agency may: 1. Covenant as to the bonds to be issued, as to the issuance of such bonds in escrow or otherwise, and as to the use and disposition of the bond proc…

NRS 279.654 Issuance of bonds: Rentals and revenues; special funds. An agency may: 1. Covenant as to the consideration or rents and fees to be charged in the sale or lease of a redevelopment project, the amount to be raised each year or other period of time by rents, fees and oth…

NRS 279.656 Issuance of bonds: Abrogation or amendment of contracts with bondholders. An agency may prescribe the procedure, if any, by which the terms of any contract with bondholders may be amended or abrogated; the amount of bonds whose holders are required to consent thereto,…

NRS 279.658 Issuance of bonds: Use and maintenance of property; insurance. An agency may covenant: 1. As to the use of any or all of its real or personal property. 2. As to the maintenance of its real and personal property, its replacement, the insurance to be carried on it, and …

NRS 279.660 Issuance of bonds: Effects of breach of covenants; events of default; waiver. An agency may: 1. Covenant as to the rights, liabilities, powers and duties arising upon the breach by it of any covenant, condition or obligation. 2. Covenant and prescribe as to events of …

NRS 279.662 Power of agency to provide for powers and duties of bondholders’ trustee or bondholders. An agency may: 1. Vest in a trustee or the holders of bonds or any proportion of them the right to enforce the payment of the bonds or any covenants securing or relating to the bo…

NRS 279.664 Power of agency to make additional covenants; additional powers. An agency may: 1. Make covenants other than and in addition to the covenants expressly authorized of like or different character. 2. Make such covenants and do any and all such acts and things as may be …

NRS 279.666 Rights of agency’s obligee. An obligee, in addition to all other rights which may be conferred on the obligee, and subject only to any contractual restrictions binding upon the obligee may: 1. By mandamus, suit, action or proceeding, compel the agency and its members,…

NRS 279.668 Rights of agency’s obligee upon default. By its resolution, trust indenture, mortgage, lease or other contract, an agency may confer upon any obligee holding or representing a specified amount in bonds, the following rights upon the happening of an event or default pr…

NRS 279.670 Bonds, interest and income exempted from taxes; exceptions. 1. Except as otherwise provided in subsection 2, bonds issued pursuant to the provisions of this chapter are issued for an essential public and governmental purpose, and together with interest on them and inc…

NRS 279.672 Bonds of agency as legal investments. 1. Notwithstanding any restrictions on investments contained in any laws, the State and all public officers, municipal corporations, political subdivisions, and public bodies, all banks, bankers, trust companies, savings banks and…

NRS 279.674 “Taxes” defined. As used in NRS 279.674 to 279.687, inclusive, the word “taxes” shall include, but without limitation, all levies on an ad valorem basis upon land or real property. (Added to NRS by 1959, 671)

NRS 279.676 Allocation, division and disposition of money from taxes; limitation on revenue; repayment of bond or other indebtedness; recalculation of total assessed value of taxable property in redevelopment area in county whose population is 700,000 or more; set aside of revenu…

NRS 279.678 Assessment and taxation of leased redeveloped property; provision in lease for lessee to pay taxes. Whenever property in any redevelopment project has been redeveloped and thereafter is leased by the redevelopment agency to any person or persons or whenever the agency…

NRS 279.680 Pledging portion of taxes for payment of principal and interest on loans, advances or indebtedness. Except as otherwise provided in subsection 6 of NRS 279.676 and NRS 279.685 and 279.6855, in any redevelopment plan, or in the proceedings for the advance of money, or …

NRS 279.683 Faith of State pledged not to impair securities. The faith of the State is hereby pledged that this chapter, any law supplemental or otherwise pertaining thereto, and any other act concerning the bonds or other securities, taxes or the pledged revenues, or any combina…