Title 22

NRS 271.490 Fund for payment of bonds; deposit and use of money collected from penalties, collection costs and interest; payment of administrative costs incurred in connection with district. 1. Except as otherwise provided in subsection 4, the assessments, when levied, shall be a…

NRS 271.495 Deficiency in bond fund or surplus and deficiency fund: Payment from general fund; levy of tax. 1. If the special fund created by the proceeds of the assessments is insufficient to pay such bonds and interest thereon as they become due and the amounts in the surplus a…

NRS 271.497 Municipality to prepare final accounting of bond fund; requirements for final accounting; time for completing. 1. The municipality shall prepare a final accounting for each special fund created for an improvement district pursuant to NRS 271.490 upon a determination b…

NRS 271.500 Municipality’s liability on bonds. 1. Bonds issued pursuant hereto shall not be a debt of the municipality, and the municipality shall not be liable thereon, nor shall it thereby pledge its full faith and credit for their payment. Assessment bonds shall not be payable…

NRS 271.502 Assessments and other revenues pledged for payment of securities: Lien of pledge; priority; validity against third persons. 1. The special assessments and any other revenues pledged for the payment of any securities, as received by or otherwise credited to the municip…

NRS 271.505 Incontestable recital in bonds. 1. Any ordinance authorizing any bonds hereunder may provide that each bond therein authorized shall recite that it is issued under authority hereof. 2. Such recital shall conclusively impart full compliance with all of the provisions h…

NRS 271.515 Bonds: Form; terms; execution; facsimile signature. 1. Any assessment bonds: (a) Must bear such date or dates; (b) Must mature in such denomination or denominations at such time or times, but in no event commencing later than 3 years nor exceeding 30 years after their…

NRS 271.520 Bonds: Exemption from taxation; exceptions. 1. Except as otherwise provided in subsection 2, bonds and interim warrants issued hereunder, their transfer, and the income therefrom, must forever be and remain free and exempt from taxation by the State and any subdivisio…

NRS 271.525 Early hearings. 1. All cases in which there may arise a question of validity of any power herein granted or of any other provision hereof shall be advanced as a matter of immediate public interest and concern, and heard at the earliest practicable moment. 2. The court…

NRS 271.530 Effect of faulty notice of hearing; proper notice; continuance. In any case where a notice is provided for herein, if the governing body or court finds for any reason that due notice was not given, the governing body or court shall not thereby lose jurisdiction, and t…

NRS 271.535 Legal investments in bonds. It shall be legal for the State and any of its agencies, departments or political subdivisions, or any other public body, to invest funds or moneys in the custody thereof in any of the bonds authorized to be issued pursuant to the provision…

NRS 271.536 Advances of money for certain improvements in lieu of issuance of bonds or interim securities. In lieu of issuing bonds or interim securities to defray the cost of an improvement to be constructed by way of a special improvement district, the governing body may advanc…

NRS 271.537 Limitation on number of annual installments to repay advancement. No special assessment to defray the cost of any improvement for which money is advanced from the general fund of the municipality may be divided into more than 10 annual installments. (Added to NRS by 1…

NRS 271.538 Medium-term obligations. If there is not sufficient money in the general fund of the municipality and if the requirements of chapter 350 of NRS, with respect to medium-term obligations, are met, money may be provided by a medium-term obligation to cover the cost of an…

NRS 271.540 Procedure for collection and enforcement of assessments by municipal treasurer. When the governing body of a municipality has directed the municipal treasurer to collect and enforce assessments in the manner provided by the Consolidated Local Improvements Law, NRS 271…

NRS 271.545 Delinquent assessment or installment marked delinquent on assessment roll; contents of notice of sale of property; ordinance to establish procedures for conducting sale of property. 1. All assessments and installments thereof shall be collected and enforced by the mun…

NRS 271.550 Notice of sale by publication and mail. Notice shall be given: 1. By publication; and 2. By mail. (Added to NRS by 1969, 948)

NRS 271.555 Public sale: Time, place and continuation; order of sale of property. All such sales shall be made between the hours of 10 a.m. and 4 p.m. and shall take place at a convenient location within the municipality selected by the governing body. The sale shall be continued…

NRS 271.560 Sale to person offering to pay amount due; when stricken off to municipality; resale of property. Each tract of land sold for delinquent and unpaid special assessments, or installments thereof, shall be sold to the first person at the sale offering to pay the amount d…

NRS 271.565 Report of sale by municipal treasurer. Within 15 days after the completion of the sale of all property described in the assessment roll upon which a delinquent assessment or installment is unpaid, the municipal treasurer shall prepare a statement of his or her actions…

NRS 271.570 Certificate of sale: Contents; signature; delivery. After receiving the amount of the assessment, or installment thereof, interest, penalty and costs, the treasurer shall make out a certificate, dated on the date of the sale, stating (when known) the name of the owner…

NRS 271.575 Municipal clerk custodian of certificates for property sold to municipality; sale or transfer of certificate. The municipal clerk is the custodian of all certificates for property sold to the municipality. At any time before the expiration of the period of redemption …

NRS 271.580 Entry of payments and redemptions by treasurer on assessment roll. When the amount of any installment or assessment, as the case may be, with interest, penalty and costs thereon, is paid to the treasurer before the sale of any property, the treasurer shall mark it pai…

NRS 271.585 Property bid in by or stricken off to municipality held in trust by municipality for special assessment district; when municipality may take and hold property discharged of trust. When any property is bid in by, or stricken off to, any municipality under any proceedin…

NRS 271.590 Sale of property by municipality after expiration of period of redemption; notice; public auction; disposition of proceeds. Any municipality may at any time after the period of redemption has expired and deeds have been issued to the municipality by virtue of any proc…

NRS 271.595 Redemption of property; certificate of redemption; notice to owner of demand of purchaser; execution and delivery of deed to purchaser if redemption not made; date when redemption payment is deemed to have been made; expiration of certificate of sale; deed not to be e…

NRS 271.600 Recitals, contents and execution of deed; deed as conclusive evidence. The deed shall be executed in the name of the municipality by which the improvement was made and shall recite in substance the matters contained in the certificate of sale, the notice to the owner,…

NRS 271.605 Fees for issuance of certificate of sale and deed. The treasurer shall charge 50 cents for the issuance of each certificate of sale and $1 for each deed. (Added to NRS by 1969, 951)

NRS 271.610 Acquisition of lien by purchaser of certificate of sale; interest. The purchaser of any certificate of sale acquires a lien on the property bid in by the purchaser for the amount paid plus all taxes and delinquent assessments or delinquency, and all interest, penaltie…

NRS 271.615 Notice to municipal treasurer of proceeding to foreclose lien for general taxes. In any proceeding to foreclose a lien for general taxes upon any tract of land subject to a special assessment lien, mailed notice shall be given the treasurer of the municipality in whic…

NRS 271.620 Sale of unsold property after maturity of last unpaid installment of bond issue. Within 30 days after the maturity of the last installment of any issue of bonds for the local improvement district, if any such bonds remain unpaid, any property remaining unsold, to whic…

NRS 271.625 Action by municipality for collection and enforcement of delinquent assessment or installment. 1. Irrespective of which county or municipal officer has been directed to collect and enforce assessments, any municipality may proceed with the collection or enforcement of…

NRS 271.630 Foreclosure actions and proceedings against municipality by holders of bonds. 1. If any assessment or installment thereof is not promptly collected or enforced, then any bondholder may file and prosecute a foreclosure action in the name of the municipality. Any bondho…

NRS 271.6301 Definitions. As used in NRS 271.6301 to 271.6325, inclusive, unless the context otherwise requires, the words and terms defined in NRS 271.6302 to 271.631, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 2021, 3242)

NRS 271.6302 “Capital provider” defined. “Capital provider” means any private entity or the designee, successor or assign of the private entity that provides direct financing or refinancing for a qualified improvement project pursuant to the provisions of NRS 271.6301 to 271.6325…

NRS 271.6303 “Energy efficiency improvement project” defined. “Energy efficiency improvement project” means the installation or modification of one or more energy efficiency improvements that decrease or support the decrease of energy consumption or demand for energy through the …

NRS 271.6304 “Financing agreement” defined. “Financing agreement” means the contract pursuant to which a property owner or lessee, as applicable, agrees to repay the capital provider for financing or refinancing a qualified improvement project, including, without limitation, any …

NRS 271.6305 “Program guide” defined. “Program guide” means the comprehensive document adopted by a governing body pursuant to NRS 271.6325 that sets forth standard forms and establishes any appropriate guidelines, specifications and criteria for the underwriting and approval of …

NRS 271.6306 “Property owner” defined. “Property owner” means all of the owners of record of the tract on which a qualified improvement project is installed. (Added to NRS by 2021, 3242)

NRS 271.6307 “Qualified improvement project” defined. “Qualified improvement project” means one or more of the following projects which are permanently affixed to real property in an existing structure or in new construction, performed pursuant to NRS 271.6301 to 271.6325, inclus…

NRS 271.6308 “Renewable energy project” defined. “Renewable energy project” means any improvement to real property, and facilities and equipment used to generate electricity from renewable energy to offset customer load in whole or in part on the real property, or to support the …

NRS 271.6309 “Resiliency project” defined. “Resiliency project” means an improvement to real property, facilities or equipment with a useful life of not less than 10 years that: 1. Increases a building’s structural resiliency for seismic events; 2. Improves indoor air quality; 3.…

NRS 271.631 “Water efficiency improvement project” defined. “Water efficiency improvement project” means an improvement to real property, facilities or equipment, and all necessary appurtenances and incidentals thereto, with a useful life of not less than 10 years that is designe…

NRS 271.6312 Power of municipality to create district; ownership of improvements or installations within district; inapplicability of certain provisions related to local improvements. 1. The governing body of a municipality, on behalf of the municipality and in its name, without …

NRS 271.6315 Procedure for creation of district. 1. A governing body may create a district pursuant to NRS 271.6312 only if: (a) The governing body makes a finding that the creation of the district serves the public purposes of resource conservation, reducing emissions or increas…

NRS 271.63155 Financing or refinancing: Assessment on real property; bonds. 1. Except as otherwise provided in this section, a qualified improvement project must be financed or refinanced only through an assessment on the real property that secures the direct financing or refinan…