Title 48

NRS 539.540 Resolution of directors: General plan of proposed operations. As soon as practicable after the organization of a district the board of directors shall, by a resolution entered on its records, formulate a general plan of its proposed operations in which it shall state …

NRS 539.543 Surveys and examinations; direction and certification by irrigation engineer. 1. The board of directors shall cause such surveys and examinations to be made as will furnish a proper basis for an estimate of the cost of carrying out the construction work. 2. All such s…

NRS 539.545 Estimate of amount of money necessary to be raised; election required. Upon receiving the report of the engineer, the board shall proceed to determine the amount of money necessary to be raised for the purchase of property and construction of works, and shall submit t…

NRS 539.547 Notice of election: Posting; publication; contents. 1. Notice of the election must be given by: (a) Posting notices in three public places in each election precinct in the district not less than 15 nor more than 20 days before the date of election; and (b) Publication…

NRS 539.550 Ballots: Form. At such an election the ballot shall contain the words “........ (Question)—Yes,” or “........ (Question)—No,” or words equivalent thereto. [Part 15:64:1919; A 1921, 118; NCL § 8026]

NRS 539.553 Conduct of election; number of votes elector may cast; certain persons and entities entitled to vote; filing of designations or written consents; informalities not to invalidate election. In any election to approve any bond issue, contract or other proposal which woul…

NRS 539.557 Additional bond issues: Election required. Thereafter, whenever the board in its judgment deems it for the best interest of the district that the question of the issuance of bonds in such amount, or in any other amount, be submitted to the electors, it shall so declar…

NRS 539.560 Determination of benefits: Apportionment; procedure. 1. Whenever the electors shall have authorized an issue of bonds, the board of directors shall examine the land in the district, and shall determine the benefits which will accrue to each tract or subdivision from t…

NRS 539.563 Meeting to review apportionment of benefits: Notice; hearing. 1. Before final action upon the apportionment of benefits provided for in NRS 539.560, the board shall publish notice for 2 weeks in a newspaper published in the county in which the organization was effecte…

NRS 539.565 Confirmation proceedings in district court: Petition; contents; notice of hearing on petition; pleadings. 1. The board of directors of the district shall file with the clerk of the district court in and for the county in which its office is situated a petition praying…

NRS 539.567 Confirmation proceedings: Confirmation of apportionment; corrections by court; final judgment; costs. 1. Upon the hearing of the petition, the court shall examine all the proceedings sought to be confirmed and may ratify, approve and confirm the same or any part there…

NRS 539.570 Sale of bonds authorized; public or private sale; terms. 1. The board may sell bonds from time to time in such quantities as may be necessary and most advantageous to raise money for the construction of works, the acquisition of property and rights and otherwise to ca…

NRS 539.573 Bonds not to be sold for less than 90 percent of par value and accrued interest. The board shall in no event sell any of the bonds for less than 90 percent of the par value thereof and accrued interest. [Part 21:64:1919; A 1921, 118; NCL § 8032]

NRS 539.575 Use of unsold bonds in payment of construction; approval of Department of Taxation. 1. The board may use any bonds of the district which have been offered for sale at public sale and remain unsold in payment for construction of canals, storage reservoirs or other work…

NRS 539.577 Cancellation of authorized bond issue; levy of assessments in lieu of bonds; limitations. 1. If for any reason the bonds of a district cannot be sold, or if at any time it shall be deemed in the best interests of the district to withdraw from sale all or any portion o…

NRS 539.580 Payment of bonds and interest from revenue derived from annual assessments. Bonds and the interest thereon shall be paid by revenue derived from the annual assessments upon the lands of the district; and all of the land of the district shall be and remain liable to be…

NRS 539.583 Payment of interest from bond fund. The treasurer, upon the presentation of interest coupons when due, shall pay the same from the bond fund. [Part 24:64:1919; A 1933, 271; 1931 NCL § 8035]

NRS 539.585 Payment before issuance of bonds, notes or certificates of indebtedness. 1. Prior to the issuance of bonds, notes or certificates of indebtedness authorized for the purpose of improvements, any person, firm or corporation owning land upon which a benefit has been asse…

NRS 539.587 Insufficient money to complete improvement: Levy of assessment; issuance of additional bonds. 1. In case the money raised by the sale of all the bonds is insufficient for the completion of the plans and works adopted, and additional bonds are not voted, the board of d…

NRS 539.590 Prior liens. The lien for taxes for the payment of interest and principal of any bond series shall be a prior lien to that of any subsequent bond series. [Part 16:64:1919; A 1921, 118; 1929, 286; 1933, 271; 1955, 27]

NRS 539.593 Power of directors to levy assessments to spread redemption of bonds. At any time after a bond issue, the board of directors shall have the power to levy assessments for the purpose of raising funds to provide for the redemption of the bonds, as specified in this chap…

NRS 539.595 Directors may execute agreement with bond purchasers guaranteeing tax levy for bond redemption; approval of Department of Taxation; recording of agreement. 1. Whenever an election has been held in any irrigation district and bonds have been authorized to be issued hav…

NRS 539.597 County auditor to spread minimum sinking fund tax on assessment books. After a copy of the agreement is filed as provided in NRS 539.595, the county auditor of each county in which the agreement is filed, without further notice or demand, shall spread upon the assessm…

NRS 539.600 Agreement binding on subsequent boards of directors; directors may increase tax. After any such agreement has been recorded as provided in NRS 539.595, no subsequent board of directors shall have any authority to repeal, change or modify the same in any respect whatso…

NRS 539.603 Proceedings if county officers fail to perform duties pertaining to sinking fund tax. 1. Any county auditor who shall fail to enter the minimum sinking fund tax in the manner provided in NRS 539.597 may be forthwith removed from office. 2. In the event of the failure …

NRS 539.605 Faith and credit of State pledged. The full faith and credit of the State of Nevada are hereby pledged that NRS 539.595 to 539.605, inclusive, shall not be repealed while any such agreements shall remain of record in the office of the county recorder of any county in …

NRS 539.607 Issuance of notes authorized to meet obligations of district after levy of tax; levy and collection of special tax. 1. If any installment of taxes has been levied for the payment of any outstanding bonds or interest of any irrigation district, the board of directors m…

NRS 539.610 Redemption of bonds before maturity: Procedure. 1. Whenever after 10 years from the issuance of bonds the bond fund shall amount to the sum of $10,000, the board of directors may direct the treasurer to pay such an amount of the bonds not due as the money in the bond …

NRS 539.613 Issuance authorized without election; purposes; exchange or sale; lien. 1. Any bonds of the district issued in accordance with the provisions of this chapter or any other statute and payable from any pledged revenues, assessments or taxes ad valorem, or any combinatio…

NRS 539.6133 Voluntary surrender or limitation on maturity; limitation on principal, interest and maturity. 1. No bonds may be refunded under this chapter unless the holders of those bonds voluntarily surrender them for exchange or payment, or unless they either mature or are cal…

NRS 539.6135 Use of proceeds; payment of incidental costs. 1. Except as otherwise provided in this chapter, the proceeds of refunding bonds must be immediately applied to the retirement of the bonds to be refunded or be placed in escrow or trust in any trust banks or credit union…

NRS 539.6137 Escrow or trust for payment of refunded or refunding bonds. 1. Any escrow or trust provided pursuant to NRS 539.6135 is not necessarily limited to the proceeds of refunding bonds but may include other money available for its purpose. Any proceeds in escrow or trust, …

NRS 539.614 Source of payment and security; applicability of provisions of chapter; conclusiveness of board’s determination of compliance with chapter. 1. Refunding bonds may be payable from and secured by any source of revenue or taxes from which the refunded bonds were or could…

NRS 539.615 Series and issue of bonds. 1. The bonds authorized by vote shall be designated as a series, and the series shall be numbered consecutively as authorized. 2. The portion of the bonds of the series authorized to be sold at any time shall be designated as an issue and ea…

NRS 539.617 Consecutive numbering; negotiability and payment; multiples of $100. The bonds of such issue shall be numbered consecutively, commencing with those earliest falling due, and they shall be designated as 11-year bonds, 12-year bonds, and so forth. They shall be negotiab…

NRS 539.620 Directors may fix and determine time for issuance and maturity; limit on maturity. The board of directors may, with the approval of the Department of Taxation, fix and determine otherwise than as provided in NRS 539.617 the time for the issuance and maturity of the bo…

NRS 539.623 Form of bonds. 1. Bonds shall express on their faces that they were issued by the authority of this chapter and shall also state the number of the issue of which the bonds are a part. 2. Bonds shall be signed by the president and the secretary, and the seal of the dis…

NRS 539.624 Issuance separately or in combination. Bonds for refunding and bonds for any other purpose authorized under this chapter or by any other statute may be issued separately or issued in combination in one series or more by the district in accordance with the provisions o…

NRS 539.625 Date of bonds. All bonds and coupons must be dated as provided in the resolution of the board authorizing their issuance. [Part 16:64:1919; A 1921, 118; 1929, 286; 1933, 271; 1955, 27]—(NRS A 1985, 2026)

NRS 539.627 Denominations. The bonds shall each be of a denomination of not less than $100. [Part 16:64:1919; A 1921, 118; 1929, 286; 1933, 271; 1955, 27]—(NRS A 1969, 489)

NRS 539.630 Interest. The bonds must bear interest at a rate which does not exceed by more than 5 percent the Index of Revenue Bonds which was most recently published before the bids are received or a negotiated offer is accepted, payable annually, semiannually or at such other t…

NRS 539.633 Places of payment. The principal and interest shall be payable at the place designated in the bonds, which may be at any place within or outside of this state, and any district may deposit money in one or more banks or credit unions within or outside of this state for…

NRS 539.635 Record to be kept by secretary and treasurer. The secretary and the treasurer shall each keep a record of the bonds sold, their number, the date of sale, the price received and the name of the purchaser. [Part 16:64:1919; A 1921, 118; 1929, 286; 1933, 271; 1955, 27]

NRS 539.6353 Rights and remedies cumulative. No right or remedy conferred upon any holder of any bonds or any trustee for that holder by this chapter or by any proceedings appertaining to the issuance of those bonds is exclusive of any other right or remedy, but each right or rem…

NRS 539.6355 Failure of holder of bonds to proceed does not relieve district of liability. The failure of any holder of any bonds to proceed as provided in this chapter or in proceedings appertaining thereto does not relieve the district, the board or any of the officers, agents …

NRS 539.636 Power of board of directors. In addition to the other means of providing revenue for districts as provided in this chapter, the board of directors under certain circumstances as set forth in NRS 539.636 to 539.6366, inclusive, or as may be otherwise provided by law, m…