2005 Nevada Revised Statutes - Chapter 279 — Redevelopment of Communities

CHAPTER 279 - REDEVELOPMENT OF COMMUNITIES

GENERAL PROVISIONS

NRS 279.382 Shorttitle.

NRS 279.384 Definitions.

NRS 279.386 Agencydefined.

NRS 279.388 Blightedarea defined.

NRS 279.390 Bondsdefined.

NRS 279.392 Communitydefined.

NRS 279.393 Eligiblerailroad defined.

NRS 279.394 FederalGovernment defined.

NRS 279.396 Legislativebody defined.

NRS 279.397 Low-incomehousehold defined.

NRS 279.398 Obligeedefined.

NRS 279.400 Planningcommission defined.

NRS 279.404 Publicbody defined.

NRS 279.406 Realproperty defined.

NRS 279.408 Redevelopmentdefined.

NRS 279.410 Redevelopmentarea defined.

NRS 279.412 Redevelopmentproject defined.

NRS 279.414 Statedefined.

NRS 279.416 Declarationof state policy: Necessity of redevelopment of blighted areas.

NRS 279.418 Declarationof state policy: Growing menace of blighted areas to public health, safety andwelfare; benefits to inhabitants resulting from remedying conditions.

NRS 279.420 Declarationof state policy: Inability of individual landowners to rehabilitate property;remedy by public acquisition.

NRS 279.422 Declarationof state policy: Temporary government-owned wartime housing projects asblighted areas.

NRS 279.424 Declarationof state policy: Redevelopment of blighted areas by eminent domain; public use;necessity.

NRS 279.425 Declarationof state policy: Adequate supply of decent, safe and sanitary low-incomehousing necessary to accomplish purposes of Community Redevelopment Law.

AGENCIES

NRS 279.426 Agencyfor redevelopment: Creation.

NRS 279.428 Resolutionby legislative body as a prerequisite to functioning of agency.

NRS 279.430 Authorityof agency conclusively presumed from resolution.

NRS 279.432 Powersof public bodies in aid of local redevelopment.

NRS 279.434 Exemptionof agency and property from execution, process or lien; exceptions.

NRS 279.436 Suspensionof agencys authority.

NRS 279.438 Terminationof redevelopment plan adopted before July 1, 1987, and amendments to plan.

NRS 279.439 Terminationof redevelopment plan adopted on or after July 1, 1987, and amendments to plan.

NRS 279.440 Appointmentof members; exceptions.

NRS 279.442 Restrictionon appointment of members.

NRS 279.443 Alternativemethod of appointment of members; staggering of terms of resident electors;successors; vacancies.

NRS 279.444 Actionof legislative body as alternative to appointment of members; citys exerciseof powers; delegation of powers and functions.

NRS 279.446 Termsof office of members; vacancies.

NRS 279.448 Chairman:Designation; election; term of office.

NRS 279.450 Compensationand expenses of members.

NRS 279.452 Removalof member: Procedure.

NRS 279.454 Interestin property included in redevelopment area forbidden; disclosure of interest;exception.

NRS 279.456 Acquisitionof property by agency from member by eminent domain.

NRS 279.458 Agencyspower vested in members.

NRS 279.460 Agencysgovernmental functions; powers.

NRS 279.462 Powersof agency.

NRS 279.464 Servicesand facilities available to agency.

NRS 279.466 Personnel:Selection; employment; compensation; limitations.

NRS 279.468 Preparationof plans for blighted areas; dissemination of redevelopment information; acceptanceand expenditure of money; creation of residential plan; budget.

NRS 279.470 Acquisition,disposal and encumbrance of interests in real and personal property; insurance.

NRS 279.471 Requirementsfor agency to exercise power of eminent domain; resolutions; limited judicialreview.

NRS 279.4712 Prerequisitesto agency exercising power of eminent domain; requirements for written offer;appraisal performed on behalf of owner of property.

NRS 279.4714 Prerequisiteto request that agency exercise power of eminent domain.

NRS 279.472 Leasesor sales: Public hearing.

NRS 279.474 Developmentof building sites.

NRS 279.476 Rehousingbureau.

NRS 279.478 Assistancefor relocation.

NRS 279.480 Investments.

NRS 279.482 Impositionof conditions on lessees and purchasers; employment plan required in proposalfor redevelopment project.

NRS 279.484 Breachof covenants running with the land.

NRS 279.486 Purchaseand construction of certain buildings, facilities and improvements;contribution by and reimbursement of community or other governmental entity.

NRS 279.488 Continuationof existing buildings on land; justification for acquisition by agency.

NRS 279.490 Financialassistance from governmental and private sources.

NRS 279.492 Eminentdomain: Existing public use; consent of public body.

NRS 279.494 Territorialjurisdiction: Counties; cities.

NRS 279.496 Propertyowned in redevelopment project: Payment of money in lieu of taxes.

NRS 279.498 Workexceeding $10,000 requires competitive bidding.

NRS 279.500 Applicabilityof provisions governing payment of prevailing wage for public works projects.

NRS 279.508 Jointexercise of powers by two or more agencies.

NRS 279.510 Designatedagencys cooperation with planning commissions.

NRS 279.512 Formulationof redevelopment plans.

NRS 279.514 Redevelopmentof area within another communitys territory.

PLANS

NRS 279.516 Prerequisitesof community for redevelopment: Planning commission; master plan.

NRS 279.518 Designationof areas for evaluation as redevelopment areas.

NRS 279.519 Areasacceptable for designation as redevelopment areas; percentage of redevelopmentarea required to be improved land; limitation on inclusion of taxable propertyin area in subsequently created redevelopment area.

NRS 279.520 Contentsof resolution designating area for evaluation.

NRS 279.522 Requestsfor evaluation of particular area.

NRS 279.524 Selectionof redevelopment area; preliminary plan.

NRS 279.526 Preliminaryplan: Sufficiency.

NRS 279.528 Submissionof preliminary plan to agency; analysis.

NRS 279.530 Cooperationof agency and planning commission.

NRS 279.564 Preparationor adoption of redevelopment plan by agency; hearings and negotiations.

NRS 279.566 Propertyowners participation and assistance in redevelopment; agencys rules;provisions if nonparticipation.

NRS 279.568 Conformanceto master or general plan for community.

NRS 279.570 Reportby planning commission; vote of legislative body.

NRS 279.572 Contentsof redevelopment plan: General requirements.

NRS 279.574 Contentsof redevelopment plan: Leases and sales of real property by agency.

NRS 279.576 Contentsof redevelopment plan: Acquisition of property; bonds.

NRS 279.578 Submissionof redevelopment plan to legislative body; report required.

NRS 279.580 Mattersto be considered by legislative body; public hearing; notice.

NRS 279.583 Proposalsby legislative body to exclude certain land from proposed redevelopment area.

NRS 279.586 Adoptionof redevelopment plan by ordinance: Determinations; contents of ordinance.

NRS 279.589 Effectof decision of legislative body.

NRS 279.598 Safeguardsrequired that redevelopment will be carried out; controls.

NRS 279.602 Copyof ordinance transmitted to agency.

NRS 279.603 Recordingof statement regarding redevelopment; transmission of certain information iftaxes are to be divided.

NRS 279.6035 Applicantsfor building permits must be advised of redevelopment area.

NRS 279.604 Approvalof contracts by legislative body.

NRS 279.608 Materialdeviation from or amendment of redevelopment plan: Recommendation tolegislative body; hearing; notice; report and recommendations by planningcommission; action by legislative body.

NRS 279.609 Limitationson actions to question validity of redevelopment plan or amendment.

FINANCIAL PROVISIONS

NRS 279.610 Appropriations.

NRS 279.612 Annualbudget.

NRS 279.614 Agencysadministrative fund.

NRS 279.616 Moneyappropriated to defray administrative expenses; agency not department ofcommunity; status of agencys employees.

NRS 279.618 Agencysreports to legislative body.

NRS 279.619 Limitationon issuing securities or incurring indebtedness.

NRS 279.620 Revolvingfund: Establishment; sources.

NRS 279.622 Issuanceand sale of general obligation bonds: Purposes; amount authorized.

NRS 279.624 Agreementwith respect to amount of general obligation bonds where plan containsprovision authorized by NRS 279.676.

NRS 279.625 Specialelection may be held only if emergency exists.

NRS 279.626 Issuanceof general obligation bonds: Manner; limitations; exceeding limitation.

NRS 279.628 Expendituresfrom revolving fund.

NRS 279.630 Saleor lease of property acquired from revolving fund: Minimum amount; redeposit ofproceeds; approval of sale or lease.

NRS 279.632 Abolitionof revolving fund; transfer of money.

NRS 279.634 Bonds:Issuance for corporate or refunding purposes.

NRS 279.636 Typesof bonds which agency may issue; additional security for bonds.

NRS 279.638 Liabilityon bonds; limitation of indebtedness.

NRS 279.640 Authorizationof bonds; sale.

NRS 279.642 Validityof bonds: Termination of office.

NRS 279.644 Negotiabilityof bonds.

NRS 279.646 Validityof bonds: Presumptions.

NRS 279.648 Issuanceof bonds: Pledge of revenues; encumbrances of property.

NRS 279.650 Issuanceof bonds: Limitations on further indebtedness and transactions.

NRS 279.652 Issuanceof bonds: Use of proceeds; lost or destroyed bonds; extension of time forpayment; redemption.

NRS 279.654 Issuanceof bonds: Rentals and revenues; special funds.

NRS 279.656 Issuanceof bonds: Abrogation or amendment of contracts with bondholders.

NRS 279.658 Issuanceof bonds: Use and maintenance of property; insurance.

NRS 279.660 Issuanceof bonds: Effects of breach of covenants; waiver.

NRS 279.662 Bondholderstrustee: Powers and duties.

NRS 279.664 Powerof agency to make additional covenants; additional powers.

NRS 279.666 Rightsof agencys obligee.

NRS 279.668 Rightsof agencys obligee upon default.

NRS 279.670 Bonds,interest and income exempted from taxes; exceptions.

NRS 279.672 Bondsof agency as legal investments.

NRS 279.674 Taxesdefined.

NRS 279.676 Allocation,division and disposition of money from taxes; limitation on revenue; repaymentof bond or other indebtedness.

NRS 279.678 Assessmentand taxation of leased redeveloped property; provision in lease for lessee topay taxes.

NRS 279.680 Pledgingportion of taxes for payment of principal and interest on loans, advances orindebtedness.

NRS 279.683 Faithof State pledged not to impair securities.

NRS 279.685 Certaincities to set aside revenue for low-income housing; limitations.

_________

GENERAL PROVISIONS

NRS 279.382 Shorttitle. The provisions contained in NRS 279.382 to 279.685, inclusive, may be cited as theCommunity Redevelopment Law.

(Added to NRS by 1959, 648; A 1987, 1683; 1999, 3612; 2005, 2214)

NRS 279.384 Definitions. As used in NRS 279.382to 279.685, inclusive, unless thecontext otherwise requires, the words and terms defined in NRS 279.386 to 279.414, inclusive, have the meaningsascribed to them in those sections.

(Added to NRS by 1959, 648; A 1985, 2068; 1993, 1329;1999, 1090; 2003, 1286; 2005, 2214)

NRS 279.386 Agencydefined. Agency means a redevelopment agencycreated under NRS 279.382 to 279.685, inclusive, or a legislative bodywhich has elected to exercise the powers granted to an agency under NRS 279.382 to 279.685, inclusive.

(Added to NRS by 1959, 648)

NRS 279.388 Blightedarea defined.

1. Except as otherwise provided in subsection 2,blighted area means an area which is characterized by at least four of thefollowing factors:

(a) The existence of buildings and structures, used orintended to be used for residential, commercial, industrial or other purposes,or any combination thereof, which are unfit or unsafe for those purposes andare conducive to ill health, transmission of disease, infant mortality,juvenile delinquency or crime because of one or more of the following factors:

(1) Defective design and character of physicalconstruction.

(2) Faulty arrangement of the interior andspacing of buildings.

(3) Inadequate provision for ventilation, light,sanitation, open spaces and recreational facilities.

(4) Age, obsolescence, deterioration,dilapidation, mixed character or shifting of uses.

(b) An economic dislocation, deterioration or disuse.

(c) The subdividing and sale of lots of irregular formand shape and inadequate size for proper usefulness and development.

(d) The laying out of lots in disregard of the contoursand other physical characteristics of the ground and surrounding conditions.

(e) The existence of inadequate streets, open spacesand utilities.

(f) The existence of lots or other areas which may besubmerged.

(g) Prevalence of depreciated values, impairedinvestments and social and economic maladjustment to such an extent that thecapacity to pay taxes is substantially reduced and tax receipts are inadequatefor the cost of public services rendered.

(h) A growing or total lack of proper utilization ofsome parts of the area, resulting in a stagnant and unproductive condition ofland which is potentially useful and valuable for contributing to the publichealth, safety and welfare.

(i) A loss of population and a reduction of proper useof some parts of the area, resulting in its further deterioration and addedcosts to the taxpayer for the creation of new public facilities and serviceselsewhere.

(j) The environmental contamination of buildings orproperty.

(k) The existence of an abandoned mine.

2. If the subject of the redevelopment is an eligiblerailroad or facilities related to an eligible railroad, blighted area meansan area which is characterized by at least four of the factors set forth insubsection 1 or characterized by one or more of the following factors:

(a) The existence of railroad facilities, used orintended to be used, for commercial, industrial or other purposes, or anycombination thereof, which are unfit or unsafe for those purposes because ofage, obsolescence, deterioration or dilapidation.

(b) A growing or total lack of proper utilization ofthe railroad facilities resulting in a stagnant and unproductive condition ofland which is potentially useful and valuable for contributing to the publichealth, safety and welfare.

(c) The lack of adequate rail facilities that hasresulted or will result in an economic hardship to the community.

(Added to NRS by 1959, 648; A 1985, 2068; 2005, 2214)

NRS 279.390 Bondsdefined. Bonds means any bonds, notes,interim certificates, debentures or other obligations issued by an agencypursuant to NRS 279.382 to 279.685, inclusive.

(Added to NRS by 1959, 649)

NRS 279.392 Communitydefined. Community means a city or county.

(Added to NRS by 1959, 649)

NRS 279.393 Eligiblerailroad defined. Eligible railroad means arailroad in existence on or before July 1, 2005:

1. That is located in a county whose population isless than 100,000; and

2. Of which no less than one-half of the ownershipinterest in the railroad is held by a governmental entity or nonprofitorganization, or both.

(Added to NRS by 2005, 2213)

NRS 279.394 FederalGovernment defined. Federal Governmentmeans the United States or any of its agencies or instrumentalities.

(Added to NRS by 1959, 649)

NRS 279.396 Legislativebody defined. Legislative body means thecity council, board of county commissioners or other legislative body of a community.

(Added to NRS by 1959, 649)

NRS 279.397 Low-incomehousehold defined. Low-income householdmeans a household, which may include one or more persons, whose total gross incomeis less than 80 percent of the median gross income for households of the samesize within the same geographic region.

(Added to NRS by 1993, 1328)

NRS 279.398 Obligeedefined. Obligee includes any bondholder,his trustee, any lessor demising to the agency property used in connection witha redevelopment area or any assignee of all or part of his interest, and theFederal Government if it is a party to any contract with the agency.

(Added to NRS by 1959, 649; A 1985, 2069)

NRS 279.400 Planningcommission defined. Planning commissionmeans a planning commission established pursuant to law or charter.

(Added to NRS by 1959, 649)

NRS 279.404 Publicbody defined. Public body means the State,or any city, county, district or any other political subdivision of the State.

(Added to NRS by 1959, 649)

NRS 279.406 Realproperty defined. Real property means:

1. Land, including land under water and waterfrontproperty.

2. Buildings, structures, fixtures and improvements onland.

3. Any property appurtenant to or used in connectionwith land.

4. Every estate, interest, privilege, easement,franchise and right in land, including rights-of-way, terms for years andliens, charges or encumbrances by way of judgment, mortgage or otherwise andthe indebtedness secured by such liens.

(Added to NRS by 1959, 649)

NRS 279.408 Redevelopmentdefined.

1. Redevelopment means the planning, development,replanning, redesign, clearance, reconstruction or rehabilitation, or anycombination of these, of all or part of a redevelopment area, and the provisionof such residential, commercial, industrial, public or other structures orspaces as may be appropriate or necessary in the interest of the generalwelfare, including:

(a) Recreational and other facilities appurtenantthereto.

(b) Eligible railroads or facilities related to eligiblerailroads.

(c) The alteration, improvement, modernization,reconstruction or rehabilitation, or any combination thereof, of existingstructures in a redevelopment area.

(d) Provision for uses involving open space, such as:

(1) Streets and other public grounds;

(2) Space around buildings, structures andimprovements;

(3) Improvements of recreational areas; and

(4) Improvement of other public grounds.

(e) The replanning, redesign or original development ofundeveloped areas where:

(1) The areas are stagnant or used improperlybecause of defective or inadequate layouts of streets, faulty layouts of lotsin relation to size, shape, accessibility or usefulness, or for other causes;or

(2) The areas require replanning and assembly ofland for reclamation or development in the interest of the general welfarebecause of widely scattered ownership, tax delinquency or other reasons.

2. Redevelopment does not exclude the continuance ofexisting buildings or uses whose demolition and rebuilding or change of use arenot deemed essential to the redevelopment and rehabilitation of the area.

(Added to NRS by 1959, 649; A 1985, 2069; 2005, 2215)

NRS 279.410 Redevelopmentarea defined. Redevelopment area means anarea of a community whose redevelopment is necessary to effectuate the publicpurposes declared in NRS 279.382 to 279.685, inclusive.

(Added to NRS by 1959, 650; A 1985, 2070)

NRS 279.412 Redevelopmentproject defined. Redevelopment projectmeans any undertaking of an agency pursuant to NRS 279.382 to 279.685, inclusive.

(Added to NRS by 1959, 650)

NRS 279.414 Statedefined. State includes any state agency orinstrumentality.

(Added to NRS by 1959, 650)

NRS 279.416 Declarationof state policy: Necessity of redevelopment of blighted areas. It is found and declared that there exist in manycommunities blighted areas which constitute either social or economicliabilities, or both, requiring redevelopment in the interest of the health,safety and general welfare of the people of those communities and of the State.

(Added to NRS by 1959, 650; A 1985, 2070)

NRS 279.418 Declarationof state policy: Growing menace of blighted areas to public health, safety andwelfare; benefits to inhabitants resulting from remedying conditions. It is further found and declared that:

1. The existence of blighted areas constitutes aserious and growing menace which is condemned as injurious and inimical to thepublic health, safety and welfare of the people of the communities in whichthey exist and of the people of the State.

2. Such blighted areas present difficulties andhandicaps which are beyond remedy and control solely by regulatory processes inthe exercise of the police power.

3. They contribute substantially and increasingly tothe problems of, and necessitate excessive and disproportionate expendituresfor, crime prevention, correction, prosecution and punishment, the treatment ofjuvenile delinquency, the preservation of the public health and safety, and themaintaining of adequate police, fire and accident protection and other publicservices and facilities.

4. This menace is becoming increasingly direct andsubstantial in its significance and effect.

5. The benefits which will result from the remedyingof such conditions and the redevelopment of blighted areas will accrue to allthe inhabitants and property owners of the communities in which they exist.

(Added to NRS by 1959, 650)

NRS 279.420 Declarationof state policy: Inability of individual landowners to rehabilitate property;remedy by public acquisition. It is furtherfound and declared that:

1. Conditions of blight tend to further obsolescence,deterioration and disuse because of the lack of incentive to the individuallandowner and his inability to improve, modernize or rehabilitate his propertywhile the condition of the neighboring properties remains unchanged.

2. As a consequence the process of deterioration of ablighted area frequently cannot be halted or corrected except by redevelopingthe entire area, or substantial portions of it.

3. Such conditions of blight are chiefly found inareas subdivided into small parcels, held in divided and widely scatteredownerships, frequently under defective titles, and in many such instances theprivate assembly of the land in blighted areas for redevelopment is sodifficult and costly that it is uneconomic and as a practical matter impossiblefor owners to undertake because of lack of legal power and excessive costs.

4. The remedying of such conditions may require thepublic acquisition at fair prices of adequate areas, the clearance of the areasthrough demolition of existing obsolete, inadequate, unsafe and insanitarybuildings, and the redevelopment of the areas suffering from such conditionsunder proper supervision, with appropriate planning, and continuing land useand construction policies.

(Added to NRS by 1959, 651)

NRS 279.422 Declarationof state policy: Temporary government-owned wartime housing projects asblighted areas. It is further found anddeclared that blighted areas may include housing areas constructed as temporarygovernment-owned wartime housing projects, and that such areas may becharacterized by one or more of the conditions enumerated in NRS 279.388.

(Added to NRS by 1959, 651)

NRS 279.424 Declarationof state policy: Redevelopment of blighted areas by eminent domain; public use;necessity. It is declared to be the policy ofthe State:

1. To protect and promote the sound development andredevelopment of blighted areas and the general welfare of the inhabitants ofthe communities in which they exist by remedying such injurious conditionsthrough the employment of all appropriate means.

2. That whenever the redevelopment of blighted areascannot be accomplished by private enterprise alone, without publicparticipation and assistance in the acquisition of land, in planning and in thefinancing of land assembly, in the work of clearance, and in the making ofimprovements necessary therefor, it is in the public interest to employ thepower of eminent domain, to advance or expend public funds for these purposes,and to provide a means by which blighted areas may be redeveloped orrehabilitated.

3. That the redevelopment of blighted areas and theprovision for appropriate continuing land use and construction policies in themconstitute public uses and purposes for which public money may be advanced orexpended and private property acquired, and are governmental functions of stateconcern in the interests of health, safety and welfare of the people of theState and of the communities in which the areas exist.

4. That the necessity in the public interest for theprovisions of NRS 279.382 to 279.685, inclusive, is declared to be amatter of legislative determination.

(Added to NRS by 1959, 651)

NRS 279.425 Declarationof state policy: Adequate supply of decent, safe and sanitary low-incomehousing necessary to accomplish purposes of Community Redevelopment Law. It is further found and declared that:

1. The provision of housing is a fundamental purposeof the Community Redevelopment Law and that a generally inadequate supply ofdecent, safe and sanitary housing available to low-income households threatensthe accomplishment of the primary purposes of the Community Redevelopment Law,including, without limitation, creating new employment opportunities,attracting new private investments of money in the area and creating physical,economic, social and environmental conditions to remove and prevent therecurrence of blight.

2. The provision and improvement of housing which canbe rented or sold to families with low incomes and which is inside or outsidethe boundaries of the redevelopment area can be of direct benefit to theredevelopment area in assisting the accomplishment of project objectiveswhether or not the redevelopment plan provides for housing within the projectarea.

3. The provision of affordable housing byredevelopment agencies and the use of taxes allocated to the agency pursuantthereto is of statewide benefit and assistance to all local governmentalagencies in the areas where housing is provided.

(Added to NRS by 1993, 1328)

AGENCIES

NRS 279.426 Agencyfor redevelopment: Creation. There is in eachcommunity a public body, corporate and politic known as the redevelopmentagency of the community.

(Added to NRS by 1959, 652)

NRS 279.428 Resolutionby legislative body as a prerequisite to functioning of agency. An agency shall not transact any business or exercise anypowers under NRS 279.382 to 279.685, inclusive, unless, by resolution,the legislative body declares that there is need for an agency to function inthe community.

(Added to NRS by 1959, 652)

NRS 279.430 Authorityof agency conclusively presumed from resolution. Inany proceeding involving the validity or enforcement of, or relating to, any contractby an agency, the agency is conclusively deemed to have been established andauthorized to transact business and exercise its powers upon proof of theadoption of such a resolution.

(Added to NRS by 1959, 652)

NRS 279.432 Powersof public bodies in aid of local redevelopment. Forthe purpose of aiding and cooperating in the planning, undertaking, constructionor operation of redevelopment projects located within the area in which it isauthorized to act, any public body, upon the terms and with or withoutconsideration as it determines, may:

1. Dedicate, sell, convey or lease any of its propertyto a redevelopment agency.

2. Cause parks, playgrounds, recreational, community,educational, water, sewer or drainage facilities, or any other works which itis otherwise empowered to undertake, to be furnished adjacent to or inconnection with redevelopment projects.

3. Furnish, dedicate, close, pave, install, grade,regrade, plan or replan streets, roads, roadways, alleys, sidewalks or otherplaces which it is otherwise empowered to undertake.

4. Plan or replan, zone or rezone any part of sucharea and make any legal exceptions from building regulations and ordinances.

5. Enter into agreements with the Federal Governmentrespecting action to be taken by such public body pursuant to any of the powersgranted by NRS 279.382 to 279.685, inclusive. Such agreements mayextend over any period, notwithstanding any law to the contrary.

6. Purchase or legally invest in any of the bonds ofan agency and exercise all of the rights of any holder of such bonds.

(Added to NRS by 1959, 652)

NRS 279.434 Exemptionof agency and property from execution, process or lien; exceptions. Execution or other judicial process shall not issueagainst the real property of an agency nor shall any judgment against an agencybe a charge or lien upon its real property. This section does not apply to orlimit the right of obligees to foreclose or otherwise enforce any mortgage,deed of trust or other encumbrance of an agency or the right of obligees topursue any remedies for the enforcement of any pledge or lien given by anagency on its rents, fees or revenues.

(Added to NRS by 1959, 652)

NRS 279.436 Suspensionof agencys authority. If an agency has notredeveloped or acquired land for, or commenced the redevelopment of a project,or entered into contracts for redevelopment within 2 years after the adoptionof a resolution, as provided in NRS 279.428,the legislative body may by resolution declare that there is no further needfor the agency. Upon the adoption of the resolution the offices of the agencymembers are vacated and the capacity of the agency to transact business orexercise any powers is suspended until the legislative body adopts a resolutiondeclaring the need for the agency to function.

(Added to NRS by 1959, 652)

NRS 279.438 Terminationof redevelopment plan adopted before July 1, 1987, and amendments to plan. A redevelopment plan adopted before July 1, 1987, and anyamendments to the plan must terminate at the end of the fiscal year in whichthe principal and interest of the last maturing of the securities issued beforethat date are fully paid or 45 years after the date on which the originalredevelopment plan was adopted, whichever is later.

(Added to NRS by 1959, 653; A 1987, 1683; 1997, 2557;1999, 3613)

NRS 279.439 Terminationof redevelopment plan adopted on or after July 1, 1987, and amendments to plan. A redevelopment plan adopted on or after July 1, 1987, andany amendments to the plan must terminate not later than 30 years after thedate on which the original redevelopment plan is adopted.

(Added to NRS by 1987, 1683; A 1997, 2557)

NRS 279.440 Appointmentof members; exceptions. Except as otherwiseprovided in NRS 279.443 and 279.444, when the legislative body adopts aresolution declaring the need for an agency, the mayor or other executiveofficer of a city or chairman of the board of county commissioners, with the approvalof the legislative body, shall appoint five resident electors of the communityas members of the agency.

(Added to NRS by 1959, 653; A 2003, 1286)

NRS 279.442 Restrictionon appointment of members. A member may not bean employee of the community, but notwithstanding any other law, he may be amember or employee of any other agency or authority of, or created for, thecommunity.

(Added to NRS by 1959, 653; A 2003, 1286)

NRS 279.443 Alternativemethod of appointment of members; staggering of terms of resident electors;successors; vacancies.

1. As an alternative to the appointment of fivemembers of the agency pursuant to NRS279.440 and as an alternative to the procedures set forth in NRS 279.444:

(a) At the time of the adoption of a resolutionpursuant to NRS 279.428, the legislativebody may appoint not more than 11 of the following persons as members of theagency:

(1) Resident electors of the community;

(2) Members of the legislative body; or

(3) A combination of resident electors of thecommunity and members of the legislative body; or

(b) At any time after the adoption of a resolutionpursuant to NRS 279.428, the legislativebody may direct the mayor or other executive officer of the city or chairman ofthe board of county commissioners to appoint not more than 11 of the followingpersons as members of the agency:

(1) Resident electors of the community;

(2) Members of the legislative body; or

(3) A combination of resident electors of thecommunity and members of the legislative body.

2. The terms of any resident electors of the communityfirst appointed as members of the agency pursuant to paragraph (a) or (b) ofsubsection 1 must be staggered in substantially the same proportion as theterms of members are staggered pursuant to NRS279.446. The successors of the members first appointed must be appointedfor 4-year terms. Vacancies occurring during a term must be filled for theunexpired term. A member shall hold office until his successor is appointed andqualified.

(Added to NRS by 2003, 1285)

NRS 279.444 Actionof legislative body as alternative to appointment of members; citys exerciseof powers; delegation of powers and functions.

1. As an alternative to the appointment of fivemembers of the agency pursuant to NRS279.440 and as an alternative to the procedures set forth in NRS 279.443, the legislative body may, atthe time of the adoption of a resolution pursuant to NRS 279.428, or at any time thereafter,declare itself to be the agency, in which case, all the rights, powers, duties,privileges and immunities vested by NRS279.382 to 279.685, inclusive, in anagency are vested in the legislative body of the community. If the legislativebody of a city declares itself to be the agency pursuant to this subsection, itmay include the mayor of the city as part of the agency regardless of whetherhe is a member of the legislative body.

2. A city may enact its own procedural ordinance andexercise the powers granted by NRS 279.382to 279.685, inclusive.

3. An agency may delegate to a community any of thepowers or functions of the agency with respect to the planning or undertakingof a redevelopment project in the area in which that community is authorized toact, and that community may carry out or perform those powers or functions forthe agency.

(Added to NRS by 1959, 653; A 1985, 2070; 1993, 334; 2003, 1286)

NRS 279.446 Termsof office of members; vacancies. If fiveresident electors of the community are appointed as members of the agencypursuant to NRS 279.440, three of themembers first appointed must be designated to serve for terms of 1, 2 and 3years, respectively, after the date of their appointments and two must bedesignated to serve for terms of 4 years after the date of their appointments.Their successors must be appointed for 4-year terms. Vacancies occurring duringa term must be filled for the unexpired term. A member shall hold office untilhis successor is appointed and qualified.

(Added to NRS by 1959, 653; A 2003, 1287)

NRS 279.448 Chairman:Designation; election; term of office. The appointingofficer shall designate the first chairman from among the members. When thereis a vacancy in such office, the agency shall elect a chairman from among itsmembers. Unless otherwise prescribed by the legislative body, the term ofoffice as chairman is for the calendar year, or for that portion remainingafter he is designated or elected.

(Added to NRS by 1959, 653)

NRS 279.450 Compensationand expenses of members. Members shall receivetheir actual and necessary expenses, including traveling expenses incurred inthe discharge of their duties. They may receive such other compensation as thelegislative body prescribes.

(Added to NRS by 1959, 653)

NRS 279.452 Removalof member: Procedure. For inefficiency,neglect of duty or misconduct in office, a member may be removed by theappointing officer, but only after he has been given a copy of the charges atleast 10 days prior to a public hearing on such charges and has had anopportunity to be heard in person or by counsel. If a member is removed, arecord of the proceedings and the charges and findings shall be filed in theoffice of the clerk of the community.

(Added to NRS by 1959, 653)

NRS 279.454 Interestin property included in redevelopment area forbidden; disclosure of interest;exception.

1. Except as provided in subsection 2, no officer oremployee of an agency or community who in the course of his duties is requiredto participate in the formulation of or to approve plans or policies for theredevelopment of a redevelopment area may acquire any interest in any propertyincluded within a redevelopment area within the community. If any officer oremployee owns, purchases or has or acquires any direct or indirect financialinterest in such property, he shall immediately make a written disclosure of itto the agency and the legislative body which must be entered on their minutes.Failure to disclose constitutes misconduct in office.

2. Such an officer or employee may purchase or acquireproperty in the redevelopment area if he uses it for his residence.

(Added to NRS by 1959, 654; A 1985, 976, 2071)

NRS 279.456 Acquisitionof property by agency from member by eminent domain. Anagency shall not acquire from any of its members or officers any property orinterest in property except through eminent domain proceedings.

(Added to NRS by 1959, 654)

NRS 279.458 Agencyspower vested in members. The powers of eachagency are vested in the members in office.

(Added to NRS by 1959, 654)

NRS 279.460 Agencysgovernmental functions; powers. Each redevelopmentagency exercises governmental functions and has the powers prescribed in NRS 279.382 to 279.685, inclusive.

(Added to NRS by 1959, 654)

NRS 279.462 Powersof agency. An agency may:

1. Sue and be sued.

2. Have a seal.

3. Make and execute contracts and other instrumentsnecessary or convenient to the exercise of its powers.

4. Make, amend and repeal bylaws and regulations notinconsistent with, and to carry into effect, the powers and purposes of NRS 279.382 to 279.685, inclusive.

5. Obtain, hire, purchase or rent office space,equipment, supplies, insurance and services.

6. Authorize and pay the travel expenses of agencymembers, officers, agents, counsel and employees on agency business.

(Added to NRS by 1959, 654)

NRS 279.464 Servicesand facilities available to agency. For thepurposes of the agency, it shall have access to the services and facilities of theplanning commission, the city engineer and other departments and offices of thecommunity.

(Added to NRS by 1959, 654)

NRS 279.466 Personnel:Selection; employment; compensation; limitations. Anagency may select, appoint and employ such permanent and temporary officers,agents, counsel and employees as it requires, and determine their qualifications,duties, benefits and compensation, subject only to the conditions and restrictionsimposed by the legislative body on the expenditure or encumbrance of the fundsappropriated to the community redevelopment agency administrative fund.

(Added to NRS by 1959, 654)

NRS 279.468 Preparationof plans for blighted areas; dissemination of redevelopment information;acceptance and expenditure of money; creation of residential plan; budget. An agency may:

1. From time to time prepare plans for theimprovement, rehabilitation and redevelopment of blighted areas.

2. Disseminate redevelopment information.

3. Accept financial or other assistance from anypublic or private source, for the agencys activities, powers and duties, andexpend any funds so received for any of the purposes of NRS 279.382 to 279.685, inclusive.

4. For eachneighborhood within the redevelopment area, create a residential plan for theneighborhood or appoint an advisory council for redevelopment and delegate theauthority to create the residential plan to the advisory council. A residentialplan created by an advisory council must be approved by the agency, and eachresidential plan created pursuant to this subsection must include a financingplan.

5. Include in its budget all money received from anysource, including, without limitation, money received from a local governmentfor use by an advisory council in carrying out a residential plan approved bythe agency.

(Added to NRS by 1959, 654; A 1999, 3613)

NRS 279.470 Acquisition,disposal and encumbrance of interests in real and personal property; insurance. Within the redevelopment area or for purposes ofredevelopment, an agency may:

1. Purchase, lease, obtain option upon or acquire bygift, grant, bequest, devise or otherwise, any real or personal property, anyinterest in property and any improvements thereon.

2. Except as otherwise provided in NRS 279.471 and 279.4712, acquire real property by eminentdomain.

3. Clear buildings, structures or other improvementsfrom any real property acquired.

4. Sell, lease, exchange, subdivide, transfer, assign,pledge, encumber by mortgage, deed of trust or otherwise, or otherwise disposeof any real or personal property or any interest in property.

5. Insure or provide for the insurance of any real orpersonal property or operations of the agency against risks or hazards.

6. Rent, maintain, manage, operate, repair and clearsuch real property.

(Added to NRS by 1959, 654; A 1999, 3613; 2005, 2216)

NRS 279.471 Requirementsfor agency to exercise power of eminent domain; resolutions; limited judicialreview.

1. Except as otherwise provided in this subsection, anagency may exercise the power of eminent domain to acquire property for aredevelopment project only if the agency adopts a resolution that includes awritten finding by the agency that a condition of blight exists for eachindividual parcel of property to be acquired by eminent domain. An agency mayexercise the power of eminent domain to acquire a parcel of property that isnot blighted for a redevelopment project if the agency adopts a resolution thatincludes a written finding by the agency that a condition of blight exists forat least two-thirds of the property within the redevelopment area at the timethe redevelopment area was created.

2. In addition to the requirement set forth insubsection 1, an agency may exercise the power of eminent domain to acquireproperty for a redevelopment project only if:

(a) The property sought to be acquired is necessary tocarry out the redevelopment plan;

(b) The agency has adopted a resolution of necessitythat complies with the requirements set forth in subsection 3; and

(c) The agency has complied with the provisions of NRS 279.4712.

3. A resolution of necessity required pursuant toparagraph (b) of subsection 2 must set forth:

(a) A statement that the property will be acquired forpurposes of redevelopment as authorized pursuant to subsection 17 of NRS 37.010 and subsection 2 of NRS 279.470;

(b) A reasonably detailed description of the propertyto be acquired;

(c) A finding by the agency that the public interestand necessity require the acquisition of the property;

(d) A finding by the agency that acquisition of theproperty will be the option for redevelopment that is most compatible with thegreatest public good and the least private injury; and

(e) A finding by the agency that acquisition of theproperty is necessary for purposes of redevelopment.

4. After an agency adopts a resolution pursuant tosubsection 1 or 2, the resolution so adopted and the findings set forth in theresolution are final and conclusive and are not subject to judicial reviewunless credible evidence is adduced to suggest that the resolution or thefindings set forth therein were procured through bribery or fraud.

(Added to NRS by 1999, 3612; A 2005, 1790, 2216)

NRS 279.4712 Prerequisitesto agency exercising power of eminent domain; requirements for written offer;appraisal performed on behalf of owner of property.

1. Before an agency may exercise the power of eminentdomain to acquire property for a redevelopment project, the agency must:

(a) Negotiate in good faith with the owner of theproperty and attempt to reach an agreement regarding the amount of compensationto be paid for the property;

(b) Provide the owner with a written offer ofcompensation in the manner set forth in subsection 2 and allow the owner atleast 30 days after the date he receives the offer to respond to the offer,unless the offer is returned as undeliverable; and

(c) Provide the owner with a copy of the appraisalreport upon which the offer of compensation is based at the time the offer ismade.

2. A written offer of compensation required pursuantto subsection 1:

(a) Must include written notice to the owner of theproperty informing him of the following:

(1) That all or a portion of his property isnecessary to carry out the redevelopment plan;

(2) The nature of the intended redevelopment, atthe time of the written offer, for which the property is considered necessary;

(3) The parcel number or other reasonablydetailed description of the property sought to be acquired;

(4) That the agency has provided a copy of theappraisal report upon which the offer of compensation is based;

(5) That the agency will provide copies, to theextent prepared, of any preliminary plans or redevelopment plans within 15 daysupon request; and

(6) The rights and responsibilities of the ownerpursuant to this section.

(b) Must include the value of the property sought to beacquired plus damages, if any, as appraised by the agency.

(c) Must be sent by certified mail, return receiptrequested, to the last known address of the owner of the property as shown inthe records of the county assessor or by personal delivery. If there is morethan one owner of the property, notice must be sent to all owners of theproperty. If the written offer of compensation is returned as undeliverable, noadditional notice is required. The agency is not required to provide anadditional written offer of compensation to a person who acquires title to theproperty after the written offer of compensation has been provided in themanner required pursuant to this paragraph.

3. If the owner of the property has an appraisalperformed on his own behalf, the owner must provide the agency with a copy ofthe appraisal report.

(Added to NRS by 2005, 2213)

NRS 279.4714 Prerequisiteto request that agency exercise power of eminent domain. Before a person who seeks to purchase, lease or otherwiseacquire or increase an interest in any property within a redevelopment area mayrequest an agency to exercise the power of eminent domain to acquire theproperty, the person requesting the redevelopment must negotiate in good faithwith the owner of the property to reach an agreement to purchase the propertyfrom the owner of the property.

(Added to NRS by 2005, 2214)

NRS 279.472 Leasesor sales: Public hearing. Any lease or salemade pursuant to NRS 279.470 may be madewithout public bidding but only after a public hearing, notice of which shallbe given by publication for not less than once a week for 2 weeks in anewspaper of general circulation published in the county in which the landlies.

(Added to NRS by 1959, 655)

NRS 279.474 Developmentof building sites. An agency may develop as abuilding site any real property owned or acquired by it. In connection withsuch development it may cause streets and highways to be laid out and graded,and pavements or other road surfacing, sidewalks and curbs, and publicutilities to be constructed and installed.

(Added to NRS by 1959, 655)

NRS 279.476 Rehousingbureau. An agency may operate a rehousing bureauto assist site occupants in obtaining adequate temporary or permanent housing.It may incur any necessary expenses for this purpose.

(Added to NRS by 1959, 655)

NRS 279.478 Assistancefor relocation.

1. An agency shall provide assistance for relocationand shall make all the payments required by chapter342 of NRS and the regulations adopted by the Director of the Department ofTransportation pursuant thereto for programs or projects for which federalfinancial assistance is received to pay all or any part of the cost of thatprogram or project.

2. This section does not limit any other authoritywhich an agency may have to make other payments for assistance for relocationor to make any payment for that assistance which exceeds the amount authorizedin regulations adopted by the Director of the Department of Transportationpursuant to chapter 342 of NRS.

(Added to NRS by 1959, 655; A 1973, 153; 1985, 2071;1989, 636; 1999, 3613)

NRS 279.480 Investments. An agency may:

1. Invest any money held in reserves or sinking funds,or any money not required for immediate disbursement, in:

(a) Obligations issued by the United States PostalService or the Federal National Mortgage Association, whether or not thepayment of principal and interest thereon is guaranteed by the FederalGovernment.

(b) Bonds or other obligations issued by aredevelopment agency created pursuant to NRS279.382 to 279.685, inclusive, or alegislative body that has elected to exercise the powers granted to an agencypursuant to the provisions of NRS 279.382to 279.685, inclusive.

(c) Bonds or other securities issued pursuant to theprovisions of NRS 349.150 to 349.364, inclusive, 350.500 to 350.720, inclusive, or 396.809 to 396.885, inclusive.

(d) Money market mutual funds that:

(1) Are registered with the Securities andExchange Commission;

(2) Are rated by a nationally recognized ratingservice as AAA or its equivalent; and

(3) Invest only in securities issued orguaranteed as to payment of principal and interest by the Federal Government,or its agencies or instrumentalities, or in repurchase agreements that arefully collateralized by such securities.

(e) Any other investment in which a city may investpursuant to NRS 355.170.

2. Purchase its bonds at a price not more than theirprincipal amount and accrued interest. All bonds so purchased must becancelled.

(Added to NRS by 1959, 655; A 1997, 2875; 1999, 576, 621)

NRS 279.482 Impositionof conditions on lessees and purchasers; employment plan required in proposalfor redevelopment project.

1. An agency may obligate lessees or purchasers ofproperty acquired in a redevelopment project to:

(a) Use the property for the purpose designated in theredevelopment plans.

(b) Begin the redevelopment of the area within a periodof time which the agency fixes as reasonable.

(c) Comply with other conditions which the agency deemsnecessary to carry out the purposes of NRS279.382 to 279.685, inclusive,including, without limitation, the provisions of an employment plan or acontract approved for a redevelopment project.

2. As appropriate for the particular project, eachproposal for a redevelopment project must also include an employment plan. Theemployment plan must include:

(a) A description of the existing opportunities foremployment within the area;

(b) A projection of the effect that the redevelopmentproject will have on opportunities for employment within the area; and

(c) A description of the manner in which an employerrelocating his business into the area plans to employ persons living within thearea of operation who are:

(1) Economically disadvantaged;

(2) Physically handicapped;

(3) Members of racial minorities;

(4) Veterans; or

(5) Women.

(Added to NRS by 1959, 655; A 1985, 2071; 1997, 2558;1999, 3614)

NRS 279.484 Breachof covenants running with the land. The agencymay provide in the contract that any of the obligations of the purchaser arecovenants or conditions running with the land, the breach of which shall causethe fee to revert to the agency.

(Added to NRS by 1959, 655)

NRS 279.486 Purchaseand construction of certain buildings, facilities and improvements;contribution by and reimbursement of community or other governmental entity.

1. An agency may, with the consent of the legislativebody, pay all or part of the value of the land for and the cost of theconstruction of any building, facility, structure or other improvement and theinstallation of any improvement which is publicly or privately owned andlocated within or without the redevelopment area. Before the legislative bodymay give its consent, it must determine that:

(a) The buildings, facilities, structures or otherimprovements are of benefit to the redevelopment area or the immediateneighborhood in which the redevelopment area is located; and

(b) No other reasonable means of financing thosebuildings, facilities, structures or other improvements are available.

Thosedeterminations by the agency and the legislative body are final and conclusive.

2. In reaching its determination that the buildings,facilities, structures or other improvements are of benefit to the redevelopmentarea or the immediate neighborhood in which the redevelopment area is located,the legislative body shall consider:

(a) Whether the buildings, facilities, structures orother improvements are likely to:

(1) Encourage the creation of new business orother appropriate development;

(2) Create jobs or other business opportunitiesfor nearby residents;

(3) Increase local revenues from desirablesources;

(4) Increase levels of human activity in theredevelopment area or the immediate neighborhood in which the redevelopmentarea is located;

(5) Possess attributes that are unique, eitheras to type of use or level of quality and design;

(6) Require for their construction, installationor operation the use of qualified and trained labor; and

(7) Demonstrate greater social or financialbenefits to the community than would a similar set of buildings, facilities,structures or other improvements not paid for by the agency.

(b) The opinions of persons who reside in theredevelopment area or the immediate neighborhood in which the redevelopmentarea is located.

(c) Comparisons between the level of spending proposedby the agency and projections, made on a pro forma basis by the agency, offuture revenues attributable to the buildings, facilities, structures or otherimprovements.

3. If the value of that land or the cost of theconstruction of that building, facility, structure or other improvement, or theinstallation of any improvement has been, or will be, paid or provided forinitially by the community or other governmental entity, the agency may enterinto a contract with that community or governmental entity under which itagrees to reimburse the community or governmental entity for all or part of thevalue of that land or of the cost of the building, facility, structure or otherimprovement, or both, by periodic payments over a period of years. The obligationof the agency under that contract constitutes an indebtedness of the agencywhich may be payable out of taxes levied and allocated to the agency under paragraph(b) of subsection 1 of NRS 279.676, orout of any other available money.

(Added to NRS by 1959, 655; A 1981, 763; 1985, 2072;1993, 1329; 2003, 644)

NRS 279.488 Continuationof existing buildings on land; justification for acquisition by agency. Without the consent of an owner, an agency may not acquireany real property on which an existing building is to be continued on itspresent site and in its present form and use unless such building requiresstructural alteration, improvement, modernization or rehabilitation, or thesite or lot on which the building is situated requires modification in size,shape or use or it is necessary to impose upon such property any of thestandards, restrictions and controls of the plan and the owner fails or refusesto agree to participate in the redevelopment plan.

(Added to NRS by 1959, 656)

NRS 279.490 Financialassistance from governmental and private sources. Anagency may borrow money or accept financial or other assistance from the State,the Federal Government or private sources for any redevelopment project withinits area of operation, and may comply with any conditions of that loan orgrant.

(Added to NRS by 1959, 656; A 1985, 2072)

NRS 279.492 Eminentdomain: Existing public use; consent of public body. Propertyalready devoted to a public use may be acquired by the agency through eminentdomain, but property of a public body shall not be acquired without itsconsent.

(Added to NRS by 1959, 656)

NRS 279.494 Territorialjurisdiction: Counties; cities. Theterritorial jurisdiction of the agency of a county is the unincorporated territoryin the county, and that of a city is the territory within its limits.

(Added to NRS by 1959, 656)

NRS 279.496 Propertyowned in redevelopment project: Payment of money in lieu of taxes. The agency may in any year during which it owns property ina redevelopment project pay to any city, county, district or other publiccorporation which would have levied a tax upon such property, had it not beenexempt, an amount of money in lieu of taxes.

(Added to NRS by 1959, 656)

NRS 279.498 Workexceeding $10,000 requires competitive bidding. Anywork of grading, clearing, demolition or construction in excess of $10,000 undertakenby the agency must be done by contract after competitive bids.

(Added to NRS by 1959, 656; A 1985, 2072)

NRS 279.500 Applicabilityof provisions governing payment of prevailing wage for public works projects.

1. The provisions of NRS338.010 to 338.090, inclusive, applyto any contract for new construction, repair or reconstruction which is awardedon or after October 1, 1991, by an agency for work to be done in a project.

2. If an agency provides property for development atless than the fair market value of the property, or provides financialincentives to the developer with a value of more than $100,000, the agency mustprovide in the agreement with the developer that the development project issubject to the provisions of NRS 338.010to 338.090, inclusive, to the sameextent as if the agency had awarded the contract for the project. Thissubsection applies only to the project covered by the agreement between theagency and the developer. This subsection does not apply to future developmentof the property unless additional financial incentives with a value of morethan $100,000 are provided to the developer.

(Added to NRS by 1959, 656; A 1991, 2345)

NRS 279.508 Jointexercise of powers by two or more agencies. Twoor more agencies within two or more communities may jointly exercise the powersgranted under NRS 279.382 to 279.685, inclusive. In such case theagencies, the planning commissions and the legislative bodies may hold jointhearings and meetings, or the legislative bodies of the communities actingseparately may each designate the agency of one of the communities to act asthe agency for all of the interested communities.

(Added to NRS by 1959, 657)

NRS 279.510 Designatedagencys cooperation with planning commissions. Ifone agency is designated, it shall obtain the report and recommendation of theplanning commission of each community on the redevelopment plan and its conformityto the master or general plan of each community before presenting the tentativeredevelopment plan or the redevelopment plan to the respective legislativebodies for adoption.

(Added to NRS by 1959, 657)

NRS 279.512 Formulationof redevelopment plans. The designated agencyand each planning commission shall cooperate in formulating redevelopmentplans.

(Added to NRS by 1959, 657)

NRS 279.514 Redevelopmentof area within another communitys territory. Byordinance the legislative body of a community may authorize the redevelopmentof an area within its territorial limits by another community if such area iscontiguous to such other community. The ordinance shall designate the communityto undertake such redevelopment. The community so authorized may undertake theredevelopment of such area in all respects as if the area was within itsterritorial limits and its legislative body, agency and planning commissionshall have all the rights, powers and privileges with respect to such area asif it was within the territorial limits of the community so authorized. Neitherthe legislative body, agency nor planning commission of the community soauthorizing shall be required to comply with any requirements of NRS 279.382 to 279.685, inclusive, except as set forth inthis section. Any redevelopment plan for such area shall be approved byordinance enacted by the legislative body of the community so authorizing.

(Added to NRS by 1959, 657)

PLANS

NRS 279.516 Prerequisitesof community for redevelopment: Planning commission; master plan. Before any area is designated for redevelopment, thecommunity authorized to undertake such development shall:

1. Have a planning commission.

2. Have a master or general plan for the communityadopted by the planning commission or the legislative body. The plan mustinclude all of the following:

(a) The general location and extent of existing andproposed major thoroughfares, transportation routes, terminals and other majorpublic utilities and facilities.

(b) A land-use plan which designates the proposedgeneral distribution and general location and extent of the uses of the landfor housing, business, industry, recreation, education, public buildings andgrounds and other categories of public and private uses of land.

(c) A statement of the standards of population densityand building intensity recommended for the various districts and otherterritorial units, and estimates of future growth in population, in theterritory covered by the plan, all correlated with the land-use plan.

(d) Maps, plans, charts or other descriptive mattershowing the areas in which conditions are found indicating the existence ofblighted areas.

(Added to NRS by 1959, 657; A 1987, 711)

NRS 279.518 Designationof areas for evaluation as redevelopment areas. Areasfor evaluation may be designated by resolution of the legislative body, or thelegislative body may by resolution authorize the designation of those areas byresolution of the planning commission or by resolution of the members of theagency.

(Added to NRS by 1959, 658; A 1985, 2073)

NRS 279.519 Areasacceptable for designation as redevelopment areas; percentage of redevelopmentarea required to be improved land; limitation on inclusion of taxable propertyin area in subsequently created redevelopment area.

1. A redevelopment area need not be restricted tobuildings, improvements or lands which are detrimental or inimical to thepublic health, safety or welfare, but may consist of an area in which suchconditions predominate and injuriously affect the entire area. A redevelopmentarea may include, in addition to blighted areas, lands, buildings orimprovements which are not detrimental to the public health, safety or welfare,but whose inclusion is found necessary for the effective redevelopment of thearea of which they are a part.

2. At least 75 percent of the area included within aredevelopment area must be improved land and may include, without limitation:

(a) Public land upon which public buildings have beenerected or improvements have been constructed.

(b) Land on which an abandoned mine, landfill or othersimilar use is located and which is surrounded by or directly abuts theimproved land.

3. The area included within a redevelopment area maybe contiguous or noncontiguous.

4. If the subject of the redevelopment is an eligiblerailroad or facilities related to an eligible railroad, the area includedwithin a redevelopment area may consist of contiguous or noncontiguous vacantland that:

(a) Is located near the eligible railroad; and

(b) May accommodate commercial or industrial facilitiesthat may use the eligible railroad.

5. The taxable property in a redevelopment area mustnot be included in any subsequently created redevelopment area until at least50 years after the effective date of creation of the first redevelopment areain which the property was included.

6 As used in this section, improved land means:

(a) Land that contains structures which:

(1) Are used for residential, commercial,industrial or governmental purposes; and

(2) Have been connected to water facilities,sewer facilities or roads, or any combination thereof;

(b) Any areas related to the structures described inparagraph (a), including, without limitation, landscaping areas, parking areas,parks and streets; and

(c) If the subject of the redevelopment is an eligiblerailroad or facilities related to an eligible railroad:

(1) Land on which the eligible railroad islocated; and

(2) Any areas related to the eligible railroad,including, without limitation, land on which is located railroad tracks, arailroad right-of-way or a facility related to the eligible railroad.

(Added to NRS by 1985, 2067; A 1987, 1683; 1999, 1090; 2005, 2216)

NRS 279.520 Contentsof resolution designating area for evaluation. Theresolution designating an area for evaluation must contain the following:

1. A finding that the area requires study to determineif a redevelopment project within that area is feasible.

2. A description of the boundaries of the areadesignated.

(Added to NRS by 1959, 658; A 1985, 2073)

NRS 279.522 Requestsfor evaluation of particular area. Any personmay, in writing, request the legislative body, or the planning commission or theagency if authorized by the legislative body to designate areas for evaluation,to designate such an area for study, and may submit with their request plansshowing the proposed redevelopment of that area or any part thereof.

(Added to NRS by 1959, 658; A 1985, 2073)

NRS 279.524 Selectionof redevelopment area; preliminary plan. Theplanning commission may, on its own motion or at the request of the agency, orshall, at the direction of the legislative body or upon the written petition ofthe owners in fee of a majority of any redevelopment area, excluding publiclyowned areas or areas dedicated to a public use, select one or moreredevelopment areas comprising all or part of the area for evaluation, andformulate a preliminary plan for the redevelopment of each redevelopment area.

(Added to NRS by 1959, 658; A 1985, 2073)

NRS 279.526 Preliminaryplan: Sufficiency. A preliminary plan is sufficientif it:

1. Describes the boundaries of the redevelopment area.

2. Contains a general statement of the uses of theland, layout of principal streets, densities of population and intensities andstandards of building proposed for the redevelopment of the area.

3. Shows how the purposes of NRS 279.382 to 279.685, inclusive, would be attained bysuch redevelopment.

4. Shows that the proposed redevelopment conforms tothe master or general plan for the community.

(Added to NRS by 1959, 658; A 1985, 2073)

NRS 279.528 Submissionof preliminary plan to agency; analysis. Theplanning commission shall submit the preliminary plan for each redevelopmentarea to the agency. The agency shall make an analysis of the preliminary planand include the analysis in its report to the legislative body.

(Added to NRS by 1959, 658; A 1985, 2074)

NRS 279.530 Cooperationof agency and planning commission. The agencyand planning commission shall cooperate in the selection of redevelopment areasand in the preparation of the preliminary plans.

(Added to NRS by 1959, 658; A 1985, 2074)

NRS 279.564 Preparationor adoption of redevelopment plan by agency; hearings and negotiations. Each agency shall prepare or cause to be prepared, oradopt, a redevelopment plan for each redevelopment area and for that purposemay hold hearings and conduct examinations, investigations and othernegotiations.

(Added to NRS by 1959, 661; A 1985, 2074)

NRS 279.566 Propertyowners participation and assistance in redevelopment; agencys rules;provisions if nonparticipation.

1. Every redevelopment plan must provide for theparticipation and assistance in the redevelopment of property in theredevelopment area by the owners of all or part of that property if the ownersagree to participate in conformity with the redevelopment plan adopted by thelegislative body for the area.

2. With respect to each redevelopment area, eachagency shall, before the adoption of the redevelopment plan, adopt and makeavailable for public inspection rules to implement the operation of thissection in connection with that plan.

3. Every redevelopment plan must contain provisionsfor redevelopment of the property if the owners fail to participate in theredevelopment.

(Added to NRS by 1959, 661; A 1985, 2074; 1999, 3614)

NRS 279.568 Conformanceto master or general plan for community. Aredevelopment plan must conform to the master or general plan for the communityas it applies to the redevelopment area. The agency shall consult with theplanning commission of the community in formulating redevelopment plans.

(Added to NRS by 1959, 661; A 1985, 2074)

NRS 279.570 Reportby planning commission; vote of legislative body.

1. Before the redevelopment plan is submitted to thelegislative body, it must be submitted to the planning commission for itsreport and recommendation and for its conformity to the master or general planfor the community. Within 30 days after a redevelopment plan is submitted to itfor consideration, the planning commission shall make and file its report andrecommendation with the agency.

2. If the planning commission recommends against theapproval of the redevelopment plan, the legislative body may adopt that plan bya two-thirds vote of its entire membership. If the planning commissionrecommends approval or fails to make any recommendation within the timeallowed, the legislative body may adopt the redevelopment plan by a majorityvote of the entire membership.

(Added to NRS by 1959, 661; A 1985, 2074)

NRS 279.572 Contentsof redevelopment plan: General requirements. Everyredevelopment plan must show:

1. The amount of open space to be provided and thelayout of streets;

2. Limitations on type, size, height, number andproposed use of buildings;

3. The approximate number of dwelling units;

4. The property to be devoted to public purposes andthe nature of those purposes;

5. Other covenants, conditions and restrictions whichthe legislative body prescribes; and

6. The proposed method of financing the redevelopmentplan in sufficient detail so that the legislative body may determine theeconomic feasibility of the plan.

(Added to NRS by 1959, 662; A 1985, 2075; 1991, 2064;1997, 2558)

NRS 279.574 Contentsof redevelopment plan: Leases and sales of real property by agency. Except as otherwise provided in NRS 279.486, every redevelopment plan mustprovide for the agency to lease or sell all real property acquired by it in anyredevelopment area, except property conveyed by it to the community. Any suchlease or sale must be conditioned on the redevelopment and use of the propertyin conformity with the redevelopment plan.

(Added to NRS by 1959, 662; A 1985, 2075)

NRS 279.576 Contentsof redevelopment plan: Acquisition of property; bonds.A redevelopment plan may provide for the agency to:

1. Acquire by gift, purchase, lease or condemnationall or part of the real property in the redevelopment area, and any personalproperty acquired in connection with that real property.

2. Issue bonds and expend the proceeds from their salein carrying out the redevelopment plan.

(Added to NRS by 1959, 662; A 1985, 2075)

NRS 279.578 Submissionof redevelopment plan to legislative body; report required.

1. After the formation of a redevelopment plan and itssubmission to the planning commission of the community, the agency shall submitit to the legislative body.

2. Every redevelopment plan submitted to thelegislative body must be accompanied by a report containing:

(a) The reasons for the selection of the redevelopmentarea;

(b) A description of the physical, social and economicconditions existing in the area;

(c) A description of the proposed method of financingthe redevelopment plan in sufficient detail so that the legislative body maydetermine the economic feasibility of the plan;

(d) A method or plan for the relocation of persons andfamilies temporarily or permanently displaced from housing facilities in theredevelopment area;

(e) An analysis of the preliminary plan; and

(f) The report and recommendations of the planningcommission, if any.

(Added to NRS by 1959, 662; A 1985, 2075)

NRS 279.580 Mattersto be considered by legislative body; public hearing; notice.

1. The legislative body shall consider theredevelopment plan submitted by the agency and all evidence and testimony foror against the adoption of the plan at a public hearing, notice of which mustbe given by publication for not less than once a week for 4 successive weeks ina newspaper of general circulation published in the county in which theredevelopment area is located.

2. The notice of hearing must include:

(a) A legal description of the boundaries of the areadesignated in the redevelopment plan;

(b) A general statement of the scope and objectives ofthe plan; and

(c) A statement of the day, hour and place where anyperson:

(1) Having an objection to the proposedredevelopment plan; or

(2) Who denies the existence of blight in theproposed redevelopment area or the regularity of any of the proceedings,

may appearbefore the legislative body and show cause why the proposed plan should not beadopted.

3. Copies of the notice must be mailed to the lastknown owner of each parcel of land in the area designated in the redevelopmentplan, at his last known address as shown by the records of the assessor for thecommunity.

(Added to NRS by 1959, 662; A 1985, 2076)

NRS 279.583 Proposalsby legislative body to exclude certain land from proposed redevelopment area. After publication of notice of the public hearing pursuantto NRS 279.580 and before approval ofthe redevelopment plan by the legislative body, the legislative body may submitto the planning commission a proposal to exclude land from a proposedredevelopment area. Within 30 days after that change is submitted to it forconsideration, the planning commission shall submit its report andrecommendation to the legislative body. If the planning commission does notreport upon the change within 30 days after its submission by the legislativebody, the legislative body may proceed to exclude the land from the proposedredevelopment area without that report and recommendation.

(Added to NRS by 1985, 2067)

NRS 279.586 Adoptionof redevelopment plan by ordinance: Determinations; contents of ordinance.

1. If the legislative body determines that:

(a) The redevelopment area includes a blighted area,the redevelopment of which is necessary to effectuate the public purposesdeclared in NRS 279.382 to 279.685, inclusive;

(b) The redevelopment plan would redevelop the area inconformity with NRS 279.382 to 279.685, inclusive, and is in the interestsof the peace, health, safety and welfare of the community;

(c) The redevelopment plan conforms to the general planof the community;

(d) The condemnation of real property, if provided forin the redevelopment plan, is necessary to the execution of the redevelopmentplan and adequate provisions have been made for payment for property to beacquired as provided by law;

(e) Adequate permanent housing is or will be madeavailable in the community for displaced occupants of the redevelopment area atrents comparable to those in the community at the time of displacement, if theredevelopment plan may result in the temporary or permanent displacement of anyoccupants of housing in the redevelopment area;

(f) All noncontiguous areas of a redevelopment area:

(1) Are blighted or necessary for effectiveredevelopment; or

(2) Satisfy the requirements set forth insubsection 4 of NRS 279.519;

(g) Inclusion of any lands, buildings or improvementswhich are not detrimental to the public health, safety or welfare is necessaryfor the effective redevelopment of the area of which they are a part; and

(h) Adequate provisions have been made for the paymentof the principal of and interest on any bonds which may be issued by theagency, if provided for in the redevelopment plan,

thelegislative body may adopt, by ordinance, the plan as the official redevelopmentplan for the redevelopment area.

2. The ordinance must:

(a) Contain a legal description of the boundaries ofthe redevelopment area covered by the redevelopment plan;

(b) Set forth the purposes and intent of thelegislative body with respect to the redevelopment area;

(c) Designate the approved plan as the officialredevelopment plan of the redevelopment area and incorporate it by reference;and

(d) Contain the determinations of the legislative bodyas set forth in subsection 1.

(Added to NRS by 1959, 663; A 1985, 2076; 2005, 2217)

NRS 279.589 Effectof decision of legislative body.

1. The decision of the legislative body concerning aredevelopment area is final and conclusive, and it is thereafter conclusivelypresumed that the redevelopment area is a blighted area and that all priorproceedings have been properly and regularly taken.

2. This section does not apply in any actionquestioning the validity of any redevelopment plan, the adoption or approval ofthat plan, or any of the findings or determinations of the agency or thelegislative body in connection with that plan brought pursuant to NRS 279.609.

(Added to NRS by 1985, 2067)

NRS 279.598 Safeguardsrequired that redevelopment will be carried out; controls. No plan may be approved unless it contains adequatesafeguards that the work of redevelopment will be carried out pursuant to theplan and provides for the retention of controls and the establishment of anyrestrictions or covenants running with land sold or leased for private use forsuch periods of time and under such conditions as the legislative body deemsnecessary to effectuate the purposes of NRS279.382 to 279.685, inclusive. Theestablishment of such controls is a public purpose under the provisions of NRS 279.382 to 279.685, inclusive.

(Added to NRS by 1959, 663)

NRS 279.602 Copyof ordinance transmitted to agency. Upon thefiling of the ordinance with the clerk or other appropriate officer of thelegislative body, a copy of the ordinance shall be sent to the agency, and theagency is vested with the responsibility for carrying out the plan.

(Added to NRS by 1959, 664)

NRS 279.603 Recordingof statement regarding redevelopment; transmission of certain information iftaxes are to be divided.

1. The legislative body shall record with the countyrecorder of the county in which the redevelopment area is situated adescription of the land within the redevelopment area and a statement thatproceedings for the redevelopment of that area have been instituted.

2. Within 30 days after the adoption by thelegislative body of a redevelopment plan which contains a provision for thedivision of taxes pursuant to NRS 279.676,the clerk of the community shall transmit a copy of the description andstatement recorded pursuant to subsection 1, a copy of the ordinance adoptingthe plan and a map or plat indicating the boundaries of the redevelopment areato:

(a) The auditor and tax assessor of the county in whichthe redevelopment area is located;

(b) The officer who performs the functions of auditoror assessor for any taxing agency which, in levying or collecting its taxes,does not use the county assessment roll or collect its taxes through thecounty; and

(c) The governing body of each of the taxing agencieswhich levies taxes upon any property in the redevelopment area.

(Added to NRS by 1985, 2067; A 2001, 1760)

NRS 279.6035 Applicantsfor building permits must be advised of redevelopment area. After the adoption of a redevelopment plan, all applicantsfor building permits in the redevelopment area must be advised by the buildingdepartment of the community that the site for which a building permit is soughtfor the construction of buildings or for other improvements is within aredevelopment area.

(Added to NRS by 1985, 2068)

NRS 279.604 Approvalof contracts by legislative body. Thelegislative body may require the agency to submit any contracts to thelegislative body and obtain its approval before entering into such contracts.

(Added to NRS by 1959, 664)

NRS 279.608 Materialdeviation from or amendment of redevelopment plan: Recommendation tolegislative body; hearing; notice; report and recommendations by planningcommission; action by legislative body.

1. If, at any time after the adoption of aredevelopment plan by the legislative body, the agency desires to take anaction that will constitute a material deviation from the plan or otherwisedetermines that it would be necessary or desirable to amend the plan, theagency must recommend the amendment of the plan to the legislative body. Anamendment may include the addition of one or more areas to any redevelopmentarea.

2. Before recommending amendment of the plan, theagency shall hold a public hearing on the proposed amendment. Notice of thathearing must be published at least 10 days before the date of hearing in anewspaper of general circulation, printed and published in the community, or,if there is none, in a newspaper selected by the agency. The notice of hearingmust include a legal description of the boundaries of the area designated inthe plan to be amended and a general statement of the purpose of the amendment.

3. In addition to the notice published pursuant tosubsection 2, the agency shall cause a notice of hearing on a proposedamendment to the plan to be sent by mail at least 10 days before the date of thehearing to each owner of real property, as listed in the records of the countyassessor, whom the agency determines is likely to be directly affected by theproposed amendment. The notice must:

(a) Set forth the date, time, place and purpose of thehearing and a physical description of, or a map detailing, the proposedamendment; and

(b) Contain a brief summary of the intent of theproposed amendment.

4. If after the public hearing, the agency recommendssubstantial changes in the plan which affect the master or community planadopted by the planning commission or the legislative body, those changes mustbe submitted by the agency to the planning commission for its report andrecommendation. The planning commission shall give its report and recommendationsto the legislative body within 30 days after the agency submitted the changesto the planning commission.

5. After receiving the recommendation of the agencyconcerning the changes in the plan, the legislative body shall hold a publichearing on the proposed amendment, notice of which must be published in anewspaper in the manner designated for notice of hearing by the agency. Ifafter that hearing the legislative body determines that the amendments in theplan, proposed by the agency, are necessary or desirable, the legislative bodyshall adopt an ordinance amending the ordinance adopting the plan.

6. As used in this section, material deviation meansan action that, if taken, would alter significantly one or more of the aspectsof a redevelopment plan that are required to be shown in the redevelopment planpursuant to NRS 279.572. The termincludes, without limitation, the vacation of a street that is depicted in thestreets and highways plan of the master plan described in paragraph (p) ofsubsection 1 of NRS 278.160 which hasbeen adopted for the community and the relocation of a public park. The termdoes not include the vacation of a street that is not depicted in the streetsand highways plan of the master plan described in paragraph (p) of subsection 1of NRS 278.160 which has been adoptedfor the community.

(Added to NRS by 1959, 664; A 1983, 492; 1985, 2077; 2003, 2344)

NRS 279.609 Limitationson actions to question validity of redevelopment plan or amendment. Any action questioning the validity of:

1. Any redevelopment plan or amendment to aredevelopment plan;

2. The adoption or approval of that plan or amendment;or

3. Any of the findings or determinations of the agencyor the legislative body in connection with that plan,

may only bebrought after the adoption of the plan or amendment or within 90 days after thedate of adoption of the ordinance adopting or amending the plan.

(Added to NRS by 1985, 2068)

FINANCIAL PROVISIONS

NRS 279.610 Appropriations.

1. At any time after the agency created for anycommunity becomes authorized to transact business and exercise its powers, thelegislative body of the community may appropriate to the agency such amounts asthe legislative body deems necessary for the administrative expenses andoverhead of the agency. The money appropriated may be paid to the agency as agrant to defray the expenses and overhead, or as a loan to be repaid upon suchterms and conditions as the legislative body may provide.

2. In addition to the common understanding and usualinterpretation of the term, administrative expense includes, but is notlimited to, expenses of redevelopment planning and dissemination of redevelopedinformation.

(Added to NRS by 1959, 665)

NRS 279.612 Annualbudget.

1. Each agency transacting business and exercisingpowers under NRS 279.382 to 279.685, inclusive, shall annually submitto the legislative body of the community a proposed budget of itsadministrative expenses.

2. The legislative body may adopt an annual budget forthe administrative expenses of the agency in such amounts as it deems necessaryand may provide such conditions and restrictions upon the expenditure orencumbrance of the money appropriated pursuant to the budget as it deemsadvisable.

(Added to NRS by 1959, 665)

NRS 279.614 Agencysadministrative fund. The money appropriatedfor administrative expenses shall be kept in the treasury of the community in aspecial fund to be known as the community redevelopment agency administrativefund, and money shall be drawn from the fund to meet the administrativeexpenses of the agency in substantially the same manner as money is drawn byother agencies and departments of the community.

(Added to NRS by 1959, 665)

NRS 279.616 Moneyappropriated to defray administrative expenses; agency not department ofcommunity; status of agencys employees. Themoney appropriated by the legislative body to the community redevelopmentagency administrative fund is money granted by the community to defray theadministrative expenses of the agency which is performing a public function ofthe community and the grant of money in this manner is not to be construed asmaking the agency a department of the community or as placing the officers,agents, counsel and employees under civil service of the community.

(Added to NRS by 1959, 665)

NRS 279.618 Agencysreports to legislative body. Each agency shallfile with the legislative body a detailed report of all of its transactions,including a statement of all revenues and expenditures, at monthly, quarterlyor annual intervals as the legislative body may prescribe.

(Added to NRS by 1959, 665)

NRS 279.619 Limitationon issuing securities or incurring indebtedness.

1. Securities must not be issued and no indebtednessmay 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 onwhich the redevelopment plan is adopted, except that an agency may enter intoleases or incur indebtedness at any time before the termination of theredevelopment plan if the leases are terminated and the indebtedness is fullyrepaid no later than the termination of the redevelopment plan. The maturitydate of any securities which are refunded must not extend beyond the date oftermination of the redevelopment plan.

2. Any securities issued by or on behalf of an agencyto finance, in whole or in part, redevelopment pursuant to NRS 279.620 to 279.626, inclusive, and 279.634 to 279.672, inclusive, must mature and befully paid, including any interest thereon, before the termination of theredevelopment plan.

(Added to NRS by 1987, 1683; A 1997, 2559)

NRS 279.620 Revolvingfund: Establishment; sources.

1. At any time after it has adopted a resolutiondeclaring that there is need for an agency to function in the community, thelegislative body may establish a redevelopment revolving fund to be kept in thetreasury of the community.

2. For the purpose of raising money to be deposited insuch fund, the legislative body may appropriate money or the community mayissue and sell general obligation bonds.

(Added to NRS by 1959, 666)

NRS 279.622 Issuanceand sale of general obligation bonds: Purposes; amount authorized.

1. The community may also issue and sell its generalobligation bonds for the purpose of providing funds with which to redeem beforematurity, retire at maturity, or purchase agency bonds issued under NRS 279.634 to 279.672, inclusive. General obligationbonds issued pursuant to this section may be authorized and issued in aprincipal amount sufficient to provide funds for the payment of any or all ofthe following:

(a) The principal amount of agency bonds proposed to beso redeemed, retired or purchased.

(b) The estimated amount of any premiums required to bepaid in connection with the redemption or purchase of such agency bonds.

(c) The estimated amount of any due and unpaid interestor accrued interest on such agency bonds which must be paid at the time thesame are redeemed, retired or purchased.

(d) The estimated amount of all expenses incidental toor connected with the redemption, retirement or purchase of such agency bondsand the authorization, issuance and sale of such general obligation bonds.

2. All agency bonds redeemed, retired or purchasedwith the proceeds of such general obligation bonds shall be cancelled and maynot be reissued.

(Added to NRS by 1959, 666)

NRS 279.624 Agreementwith respect to amount of general obligation bonds where plan containsprovision authorized by NRS 279.676. Ifthe redevelopment plan contains the provision authorized by NRS 279.676, the agency and the legislativebody of the community may, either before or after the authorization of generalobligation bonds for the purposes permitted by NRS 279.622, enter into an agreement thatthe principal amount of any such general obligation bonds sold for suchpurposes, together with all interest which the community may pay thereon, shallconstitute a loan by the community to the agency for the purpose of refinancingthe redevelopment project, and that, subject to any prior pledge of or claimupon the moneys in the special fund provided for in NRS 279.676, the moneys accruing to suchspecial fund are irrevocably pledged to the repayment of such loan until therehas been repaid to the community from time to time from such special fund theprincipal amount of such general obligation bonds plus all interest which thecommunity may pay thereon, less such part, if any, of the proceeds of suchgeneral obligation bonds which were not used for such purposes, and less anypremiums and accrued interest received by the community upon the sale of suchgeneral obligation bonds.

(Added to NRS by 1959, 666)

NRS 279.625 Specialelection may be held only if emergency exists.

1. For the purposes of NRS 279.626 and 279.636, a special election may be held onlyif the legislative body of the community determines, by a unanimous vote, thatan emergency exists.

2. The determination made by the legislative body isconclusive unless it is shown that the legislative body acted with fraud or agross abuse of discretion. An action to challenge the determination made by thelegislative body must be commenced within 15 days after the legislative bodysdetermination is final.

3. As used in this section, emergency means anyunexpected occurrence or combination of occurrences which requires immediateaction by the legislative body to prevent or mitigate a substantial financialloss to the community or to enable the legislative body to provide an essentialservice to the residents of the community.

(Added to NRS by 1993, 1048)

NRS 279.626 Issuanceof general obligation bonds: Manner; limitations; exceeding limitation. Except as otherwise provided in NRS 279.382 to 279.685, inclusive, any general obligationbonds issued by any community pursuant to NRS279.620 to 279.632, inclusive, mustbe authorized and issued in the manner and within the limitations prescribed bylaw or the charter of the community for the issuance and authorization of thebonds for public purposes generally. Irrespective of any limitation as to theamount of general obligation bonds which may be issued, a community may issuethe bonds for the purposes prescribed in NRS279.620 to 279.632, inclusive, inexcess of the limitation, in such amount as may be authorized by the voters ofthe community at any special, primary or general election if the community is acounty, and at any special election or primary or general municipal election orprimary or general state election, if the community is a city.

(Added to NRS by 1959, 666; A 1993, 1051)

NRS 279.628 Expendituresfrom revolving fund.

1. By resolution of the legislative body adopted by amajority vote any money in the redevelopment revolving fund may be expendedfrom time to time for:

(a) The acquisition of real property in anyredevelopment area.

(b) The clearance, aiding in relocation of occupants ofthe site and preparation of any redevelopment area for redevelopment.

2. By resolution of the legislative body adopted by atwo-thirds vote, any money in the redevelopment revolving fund may be paid tothe agency, upon such terms and conditions as the legislative body mayprescribe for any of the following purposes:

(a) Deposit in a trust fund to be expended for theacquisition of real property in any redevelopment area.

(b) The clearance of any redevelopment area forredevelopment.

(c) Any expenses necessary or incidental to thecarrying out of a redevelopment plan which has been adopted by the legislativebody.

(Added to NRS by 1959, 667; A 1985, 2078)

NRS 279.630 Saleor lease of property acquired from revolving fund: Minimum amount; redeposit ofproceeds; approval of sale or lease.

1. No real or personal property, or any interesttherein, acquired or constructed in whole or in part with money from theredevelopment revolving fund may be sold or leased for an amount less than itsfair market value in accordance with any covenants and conditions governingthat sale or lease, unless the agency finds that a sale or lease for a lesserconsideration is necessary to effectuate the purposes of the redevelopmentplan.

2. All money received by the agency from the sale,lease or encumbering of property acquired with money from the redevelopmentrevolving fund in excess of the money required to repay the loans and interestthereon authorized by NRS 279.382 to 279.685, inclusive, must be redeposited inthe fund.

3. If any property acquired in whole or in part fromthe redevelopment revolving fund is to be sold or leased by the agency, thesale or lease must be first approved by the legislative body by resolutionadopted after public hearing. Notice of the time and place of the hearing mustbe published once in a newspaper of the community at least 1 week before thehearing. The resolution must be adopted by a majority vote unless thelegislative body has provided by ordinance for a two-thirds vote for suchpurpose.

(Added to NRS by 1959, 667; A 1981, 763; 1985, 2078)

NRS 279.632 Abolitionof revolving fund; transfer of money. Thelegislative body of any community may abolish the redevelopment revolving fundwhenever it finds that the purposes for which it was established have beenaccomplished. At the time of abolishing the fund, the legislative body shalltransfer all money in it to the general obligation bond redemption fund andprovide that all money thereafter to be deposited or redeposited in theredevelopment revolving fund shall be deposited in the general obligation bondredemption fund. Any surplus existing in the general obligation bond redemptionfund after payment of principal and interest shall be transferred to thegeneral fund of the community.

(Added to NRS by 1959, 667)

NRS 279.634 Bonds:Issuance for corporate or refunding purposes. Fromtime to time an agency may issue bonds for any of its corporate purposes. Anagency may also issue refunding bonds for the purpose of paying or retiringbonds previously issued by it.

(Added to NRS by 1959, 667)

NRS 279.636 Typesof bonds which agency may issue; additional security for bonds.

1. An agency may issue such types of bonds as it maydetermine, including bonds on which the principal and interest are payable:

(a) Exclusively from the income and revenues of theredevelopment projects financed with the proceeds of the bonds, or with thoseproceeds together with financial assistance from the State or FederalGovernment in aid of the projects.

(b) Exclusively from the income and revenues of certaindesignated redevelopment projects whether or not they were financed in whole orin part with the proceeds of the bonds.

(c) In whole or in part from taxes allocated to, andpaid into a special fund of, the agency pursuant to the provisions of NRS 279.674 to 279.685, inclusive.

(d) From its revenues generally.

(e) From any contributions or other financialassistance from the State or Federal Government.

(f) By any combination of these methods.

2. Any of the bonds may be additionally secured by apledge of any revenue or by an encumbrance by mortgage, deed of trust orotherwise of any redevelopment project or other property of the agency or by apledge of the taxes referred to in subsection 1.

3. Amounts payable in any manner permitted by thissection may be additionally secured by a pledge of the full faith and credit ofthe community whose legislative body has declared the need for the agency tofunction. Such additional security may only be provided upon the approval ofthe majority of the voters voting on the question at a primary or generalelection or a special election called for that purpose. In its proposal to itsvoters the governing body shall define the area to be redeveloped, the primarysource or sources of revenue first to be employed to retire the bonds and themaximum sum for which the city may pledge its full faith and credit inconnection with the bonds to be issued for the project.

(Added to NRS by 1959, 668; A 1981, 314; 1993, 1052)

NRS 279.638 Liabilityon bonds; limitation of indebtedness.

1. Neither the members of an agency nor any personsexecuting the bonds are liable personally on the bonds by reason of theirissuance.

2. Unless the full faith and credit of a community ispledged, the bonds and other obligations of any agency are not a debt of thecommunity, the State or any of its political subdivisions and neither thecommunity, the State nor any of its political subdivisions is liable on them,nor in any event shall the bonds or obligations be payable out of any funds orproperties other than those of the agency; and such bonds and other obligationsshall so state on their face. Unless the full faith and credit of a communityis pledged, the bonds do not constitute an indebtedness within the meaning ofany constitutional or statutory debt limitation or restriction.

(Added to NRS by 1959, 668; A 1981, 315)

NRS 279.640 Authorizationof bonds; sale.

1. The agency may authorize bonds by resolution. Theresolution, 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) The interest rate.

(e) The denomination of the bonds.

(f) Their form, either coupon or registered.

(g) The conversion or registration privileges carriedby the bonds.

(h) The rank or priority of the bonds.

(i) The manner of their execution.

(j) The medium of payment.

(k) The place of payment.

(l) The terms of redemption with or without premium towhich the bonds are subject.

2. The bonds may be sold at par, above par or belowpar in accordance with the provisions of NRS350.2012 at a:

(a) Public sale held after notice is published at leastonce at least 5 days before the sale in a newspaper of general circulationpublished in the community, or, if there is none, in a newspaper of generalcirculation published in the county; or

(b) Private sale without any advertisement or publicnotice.

(Added to NRS by 1959, 668; A 1993, 260; 1995, 155)

NRS 279.642 Validityof bonds: Termination of office. If any agencymember or officer whose signature appears on bonds or coupons ceases to be suchmember or officer before delivery of the bonds, his signature is as effectiveas if he had remained in office.

(Added to NRS by 1959, 669)

NRS 279.644 Negotiabilityof bonds. Bonds issued pursuant to NRS 279.382 to 279.685, inclusive, are fully negotiable.

(Added to NRS by 1959, 669)

NRS 279.646 Validityof bonds: Presumptions. In any action orproceeding involving the validity or enforceability of any bonds or theirsecurity, any such bond reciting in substance that it has been issued by theagency to aid in financing a redevelopment project is conclusively deemed tohave been issued for a redevelopment project and the project is conclusivelydeemed to have been planned, located and constructed pursuant to NRS 279.382 to 279.685, inclusive.

(Added to NRS by 1959, 669)

NRS 279.648 Issuanceof 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 intoexistence.

2. Encumber by mortgage, deed of trust or otherwise allor any part of its real or personal property, then owned or thereafteracquired.

(Added to NRS by 1959, 669)

NRS 279.650 Issuanceof bonds: Limitations on further indebtedness and transactions. An agency may covenant:

1. Against pledging all or any part of its rents, feesand revenues.

2. Against encumbering all or any part of its real orpersonal property, to which its right or title then exists or may thereaftercome into existence.

3. Against permitting any lien on such revenues orproperty.

4. With respect to limitations on its right to sell,lease or otherwise dispose of all or part of any redevelopment project.

5. As to what other, or additional debts orobligations it may incur.

(Added to NRS by 1959, 669)

NRS 279.652 Issuanceof bonds: Use of proceeds; lost or destroyed bonds; extension of time forpayment; redemption. An agency may:

1. Covenant as to the bonds to be issued, as to theissuance of such bonds in escrow or otherwise, and as to the use anddisposition of the bond proceeds.

2. Provide for the replacement of lost, destroyed ormutilated bonds.

3. Covenant against extending the time for the paymentof its bonds or interest.

4. Redeem the bonds, covenant for their redemption,and provide the redemption terms and conditions.

(Added to NRS by 1959, 669)

NRS 279.654 Issuanceof bonds: Rentals and revenues; special funds. Anagency may:

1. Covenant as to the consideration or rents and feesto be charged in the sale or lease of a redevelopment project, the amount to beraised each year or other period of time by rents, fees and other revenues, andas to their use and disposition.

2. Create or authorize the creation of special fundsfor money held for redevelopment or other costs, debt service, reserves orother purposes, and covenant as to the use and disposition of such money.

(Added to NRS by 1959, 669)

NRS 279.656 Issuanceof bonds: Abrogation or amendment of contracts with bondholders. An agency may prescribe the procedure, if any, by whichthe terms of any contract with bondholders may be amended or abrogated; theamount of bonds whose holders are required to consent thereto, and the mannerin which such consent may be given.

(Added to NRS by 1959, 669)

NRS 279.658 Issuanceof bonds: Use and maintenance of property; insurance. Anagency may covenant:

1. As to the use of any or all of its real or personalproperty.

2. As to the maintenance of its real and personalproperty, its replacement, the insurance to be carried on it, and the use anddisposition of insurance money.

(Added to NRS by 1959, 669)

NRS 279.660 Issuanceof bonds: Effects of breach of covenants; waiver. Anagency may:

1. Covenant as to the rights, liabilities, powers andduties arising upon the breach by it of any covenant, condition or obligation.

2. Covenant and prescribe as to events of default andterms and conditions upon which any or all of its bonds or obligations becomeor may be declared due before maturity, and as to the terms and conditions uponwhich such declaration and its consequences may be waived.

(Added to NRS by 1959, 670)

NRS 279.662 Bondholderstrustee: Powers and duties. An agency may:

1. Vest in a trustee or the holders of bonds or anyproportion of them the right to enforce the payment of the bonds or anycovenants securing or relating to the bonds.

2. Vest in a trustee the right, in the event of adefault by the agency, to take possession of all or part of any redevelopmentproject, to collect the rents and revenues arising from it and to dispose ofsuch money pursuant to the agreement of the agency with the trustee.

3. Provide for the powers and duties of a trustee andlimit his liabilities.

4. Provide the terms and conditions upon which thetrustee or the holders of bonds or any proportion of them may enforce anycovenant or rights securing or relating to the bonds.

(Added to NRS by 1959, 670)

NRS 279.664 Powerof agency to make additional covenants; additional powers. An agency may:

1. Make covenants other than and in addition to thecovenants expressly authorized of like or different character.

2. Make such covenants and do any and all such actsand things as may be necessary, convenient or desirable to secure its bonds,or, except as otherwise provided in NRS279.382 to 279.685, inclusive, aswill tend to make the bonds more marketable notwithstanding that suchcovenants, acts or things may not be enumerated in NRS 279.382 to 279.685, inclusive.

(Added to NRS by 1959, 670)

NRS 279.666 Rightsof agencys obligee. In addition to all otherrights which may be conferred on him, and subject only to any contractualrestrictions binding upon him, an obligee may:

1. By mandamus, suit, action or proceeding, compel theagency and its members, officers, agents or employees to perform each and everyterm, provision and covenant contained in any contract of the agency with orfor the benefit of the obligee, and require the carrying out of any or all suchcovenants and agreements of the agency and the fulfillment of all dutiesimposed upon it by NRS 279.382 to 279.685, inclusive.

2. By suit, action or proceeding in equity, enjoin anyacts or things which may be unlawful, or the violation of any of the rights ofthe obligee.

(Added to NRS by 1959, 670)

NRS 279.668 Rightsof agencys obligee upon default. By itsresolution, trust indenture, mortgage, lease or other contract, an agency mayconfer upon any obligee holding or representing a specified amount in bonds,the following rights upon the happening of an event or default prescribed insuch resolution or instrument, to be exercised by suit, action or proceeding inany court of competent jurisdiction:

1. To cause possession of all or part of anyredevelopment project to be surrendered to any such obligee.

2. To obtain the appointment of a receiver of all orpart of any redevelopment project of the agency and of the rents and profitsfrom it. If a receiver is appointed, he may enter and take possession of theredevelopment project or any part of it, operate and maintain it, collect andreceive all fees, rents, revenues or other charges thereafter arising from it,and shall keep such money in separate accounts and apply it pursuant to theobligations of the agency as the court shall direct.

3. To require the agency and its members and employeesto account as if it and they were the trustees of an express trust.

(Added to NRS by 1959, 670)

NRS 279.670 Bonds,interest and income exempted from taxes; exceptions.

1. Except as otherwise provided in subsection 2, bondsissued pursuant to the provisions of NRS279.382 to 279.685, inclusive, areissued for an essential public and governmental purpose, and together withinterest on them and income from them are exempt from all taxes.

2. The provisions of subsection 1 do not apply to thetax on estates imposed pursuant to the provisions of chapter 375A of NRS or the tax ongeneration-skipping transfers imposed pursuant to the provisions of chapter 375B of NRS.

(Added to NRS by 1959, 671; A 1989, 2107; 1991, 1712)

NRS 279.672 Bondsof agency as legal investments.

1. Notwithstanding any restrictions on investmentscontained in any laws, the State and all public officers, municipalcorporations, political subdivisions, and public bodies, all banks, bankers,trust companies, savings banks and institutions, savings and loan associations,investment companies, and other persons carrying on a banking business, allinsurance companies, insurance associations, and other persons carrying on aninsurance business, and all executors, administrators, guardians, trustees, andother fiduciaries may legally invest any sinking funds, money or other fundsbelonging to them or within their control in any bonds or other obligationsissued by an agency. Such bonds and other obligations are authorized securityfor all public deposits.

2. It is one of the purposes of NRS 279.382 to 279.685, inclusive, to authorize anypersons, firms, corporations, associations, political subdivisions, districtsor other public agencies and officers, public or private, to use any fundsowned or controlled by them, including, but not limited to, sinking, insurance,investment, retirement, compensation, pension and trust funds, and funds heldon deposit, for the purchase of any such bonds or other obligations. NRS 279.382 to 279.685, inclusive, do not relieve anyperson, firm or corporation from any duty of exercising reasonable care in selectingsecurities.

(Added to NRS by 1959, 671; A 1983, 129)

NRS 279.674 Taxesdefined. As used in NRS 279.674 to 279.685, inclusive, the word taxes shallinclude, but without limitation, all levies on an ad valorem basis upon land orreal property.

(Added to NRS by 1959, 671)

NRS 279.676 Allocation,division and disposition of money from taxes; limitation on revenue; repaymentof bond or other indebtedness.

1. Any redevelopment plan may contain a provision thattaxes, if any, levied upon taxable property in the redevelopment area each yearby or for the benefit of the State, any city, county, district or other publiccorporation, after the effective date of the ordinance approving theredevelopment plan, must be divided as follows:

(a) That portion of the taxes which would be producedby the rate upon which the tax is levied each year by or for each of the taxingagencies upon the total sum of the assessed value of the taxable property inthe redevelopment area as shown upon the assessment roll used in connectionwith the taxation of the property by the taxing agency, last equalized beforethe effective date of the ordinance, must be allocated to and when collectedmust be paid into the funds of the respective taxing agencies as taxes by orfor such taxing agencies on all other property are paid. To allocate taxeslevied by or for any taxing agency or agencies which did not include theterritory in a redevelopment area on the effective date of the ordinance but towhich the territory has been annexed or otherwise included after the effectivedate, the assessment roll of the county last equalized on the effective date ofthe ordinance must be used in determining the assessed valuation of the taxableproperty in the redevelopment area on the effective date. If property which wasshown on the assessment roll used to determine the amount of taxes allocated tothe taxing agencies is transferred to the State and becomes exempt fromtaxation, the assessed valuation of the exempt property as shown on theassessment roll last equalized before the date on which the property wastransferred to the State must be subtracted from the assessed valuation used todetermine the amount of revenue allocated to the taxing agencies.

(b) Except as otherwise provided in paragraphs (c) and(d) and NRS 540A.265, that portion ofthe levied taxes each year in excess of the amount set forth in paragraph (a)must be allocated to and when collected must be paid into a special fund of theredevelopment agency to pay the costs of redevelopment and to pay the principalof and interest on loans, money advanced to, or indebtedness, whether funded, refunded,assumed, or otherwise, incurred by the redevelopment agency to finance orrefinance, in whole or in part, redevelopment. Unless the total assessedvaluation of the taxable property in a redevelopment area exceeds the totalassessed value of the taxable property in the redevelopment area as shown bythe assessment roll last equalized before the effective date of the ordinanceapproving the redevelopment plan, less the assessed valuation of any exemptproperty subtracted pursuant to paragraph (a), all of the taxes levied andcollected upon the taxable property in the redevelopment area must be paid intothe funds of the respective taxing agencies. When the redevelopment plan isterminated pursuant to the provisions of NRS279.438 and 279.439 and all loans,advances and indebtedness, if any, and interest thereon, have been paid, allmoney thereafter received from taxes upon the taxable property in theredevelopment area must be paid into the funds of the respective taxingagencies as taxes on all other property are paid.

(c) That portion of the taxes in excess of the amountset forth in paragraph (a) that is attributable to a tax rate levied by ataxing agency to produce revenues in an amount sufficient to make annualrepayments of the principal of, and the interest on, any bonded indebtednessthat was approved by the voters of the taxing agency on or after November 5,1996, must be allocated to and when collected must be paid into the debtservice fund of that taxing agency.

(d) That portion of the taxes in excess of the amountset forth in paragraph (a) that is attributable to a new or increased tax ratelevied by a taxing agency and was approved by the voters of the taxing agencyon or after November 5, 1996, must be allocated to and when collected must bepaid into the appropriate fund of the taxing agency.

2. Except as otherwise provided in subsection 3, inany fiscal year, the total revenue paid to a redevelopment agency must notexceed:

(a) In a municipality whose population is 100,000 ormore, an amount equal to the combined tax rates of the taxing agencies for thatfiscal year multiplied by 10 percent of the total assessed valuation of themunicipality.

(b) In a municipality whose population is 25,000 ormore but less than 100,000, an amount equal to the combined tax rates of thetaxing agencies for that fiscal year multiplied by 15 percent of the totalassessed valuation of the municipality.

(c) In a municipality whose population is less than25,000, an amount equal to the combined tax rates of the taxing agencies forthat fiscal year multiplied by 20 percent of the total assessed valuation ofthe municipality.

If therevenue paid to a redevelopment agency must be limited pursuant to paragraph(a), (b) or (c) and the redevelopment agency has more than one redevelopmentarea, the redevelopment agency shall determine the allocation to each area. Anyrevenue which would be allocated to a redevelopment agency but for theprovisions of this section must be paid into the funds of the respective taxingagencies.

3. The taxing agencies shall continue to pay to aredevelopment agency any amount which was being paid before July 1, 1987, andin anticipation of which the agency became obligated before July 1, 1987, torepay any bond, loan, money advanced or any other indebtedness, whether funded,refunded, assumed or otherwise incurred.

4. For the purposes of this section, the assessmentroll last equalized before the effective date of the ordinance approving theredevelopment plan is the assessment roll in existence on March 15 immediatelypreceding the effective date of the ordinance.

(Added to NRS by 1959, 671; A 1981, 315, 763, 764;1983, 493; 1987, 1684; 1989, 1105, 1747; 1991, 1044; 1993, 258; 1995, 1460;1997, 1339, 2559, 2571; 2003,528; 2003,20th Special Session, 288)

NRS 279.678 Assessmentand taxation of leased redeveloped property; provision in lease for lessee topay taxes. Whenever property in any redevelopmentproject has been redeveloped and thereafter is leased by the redevelopmentagency to any person or persons or whenever the agency leases real property inany redevelopment project to any person or persons for redevelopment, theproperty shall be assessed and taxed in the same manner as privately ownedproperty, and the lease or contract shall provide that the lessee shall paytaxes upon the assessed value of the entire property and not merely upon theassessed value of his or its leasehold interest.

(Added to NRS by 1959, 672)

NRS 279.680 Pledgingportion of taxes for payment of principal and interest on loans, advances orindebtedness. Except as otherwise provided in NRS 279.685, in any redevelopment plan, orin the proceedings for the advance of money, or the making of loans, or theincurring of any indebtedness, whether funded, refunded, assumed or otherwise,by the redevelopment agency to finance or refinance, in whole or in part, theredevelopment project, the portion of taxes mentioned in paragraph (b) ofsubsection 1 of NRS 279.676 may beirrevocably pledged for the payment of the principal of and interest on thoseloans, advances or indebtedness.

(Added to NRS by 1959, 672; A 1981, 765; 1999, 3614)

NRS 279.683 Faithof State pledged not to impair securities. Thefaith of the State is hereby pledged that NRS279.382 to 279.685, inclusive, anylaw supplemental or otherwise pertaining thereto, and any other act concerningthe bonds or other securities, taxes or the pledged revenues, or anycombination of such securities, such taxes and such revenues will not berepealed or amended or otherwise directly or indirectly modified in such amanner as to impair adversely any outstanding bonds or securities until allsuch bonds and securities have been discharged in full or provision for theirpayment and redemption has been made fully, including, without limitation, theknown minimum yield from the investment or reinvestment of money pledgedtherefor in federal securities.

(Added to NRS by 1999, 1090)

NRS 279.685 Certaincities to set aside revenue for low-income housing; limitations.

1. Except asotherwise provided in this section, an agency of a city whose population is300,000 or more that receives revenue from taxes pursuant to paragraph (b) ofsubsection 1 of NRS 279.676 shall setaside not less than 15 percent of that revenue received on or before October 1,1999, and 18 percent of that revenue received after October 1, 1999, toincrease, improve and preserve the number of dwelling units in the communityfor low-income households.

2. Theobligation of an agency to set aside not less than 15 percent of the revenuefrom taxes allocated to and received by the agency pursuant to paragraph (b) ofsubsection 1 of NRS 279.676 issubordinate to any existing obligations of the agency. As used in thissubsection, existing obligations means the principal and interest, when due,on any bonds, notes or other indebtedness whether funded, refunded, assumed orotherwise incurred by the agency before July 1, 1993, to finance or refinancein whole or in part, the redevelopment of a redevelopment area. For thepurposes of this subsection, obligations incurred by an agency after July 1,1993, shall be deemed existing obligations if the net proceeds are used torefinance existing obligations of the agency.

3. Theobligation of an agency to set aside an additional 3 percent of the revenuefrom taxes allocated to and received by the agency pursuant to paragraph (b) ofsubsection 1 of NRS 279.676 issubordinate to any existing obligations of the agency. As used in thissubsection, existing obligations means the principal and interest, when due,on any bonds, notes or other indebtedness whether funded, refunded, assumed orotherwise incurred by the agency before October 1, 1999, to finance orrefinance in whole or in part, the redevelopment of a redevelopment area. Forthe purposes of this subsection, obligations incurred by an agency afterOctober 1, 1999, shall be deemed existing obligations if the net proceeds areused to refinance existing obligations of the agency.

4. The agency may expend or otherwise commit money forthe purposes of subsection 1 outside the boundaries of the redevelopment area.

(Added to NRS by 1993, 1328; A 1999, 3615; 2001, 1972)

 

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