2015 Nevada Revised Statutes
Chapter 309 - Local Improvement Districts
NRS 309.360 - Payment of costs of acquisition from construction fund or proceeds of general obligation bonds; rates, tolls and charges for operation and maintenance; levy and collection of ad valorem taxes.

1. The cost and expense of purchasing and acquiring property, and of constructing works to carry out the formulated plan or plans, or for the improvement or supplementing of existing works, except as otherwise provided herein, shall be paid out of the construction fund or general obligation bond proceeds.

2. For the purpose of defraying the organization and current expense of the district and of the care, operation, maintenance, management, repair, and necessary current improvement or replacement of existing works and property, including salaries and wages of officers and employees and other proper incidental expenditures, the board may fix rates, tolls and charges, including without limiting the foregoing, connection fees, use charges and annexation charges, and provide for the collection thereof by the district treasurer as operation and maintenance, or some like designation, or may levy assessments or general ad valorem taxes therefor, or for a portion thereof, collecting the balance as tolls or charges as aforesaid.

3. In addition to the other means for providing revenue for such districts, the board shall have power and authority to levy and collect general (ad valorem) taxes on and against all taxable real and personal property within the district, such levy and collection to be made by the board in conjunction with the county and its officers as set forth in this chapter.

4. To levy and collect general taxes, the board shall determine, in each year, the amount of money necessary to be raised by general taxation, taking into consideration other sources of revenue of the district, and shall fix a rate of levy which, when levied upon every dollar of assessed valuation of taxable property within the district, and together with other revenues, will raise the amount required by the district annually to supply funds for paying expenses of organization and the costs of acquiring, operating and maintaining the works and equipment of the district, and promptly to pay in full, when due, all interest on and principal of the general obligation bonds issued pursuant to NRS 309.332 to 309.339, inclusive, or NRS 309.3395. In the event of accruing defaults or deficiencies, an additional levy may be made as hereinafter provided.

5. The board shall certify to the board of county commissioners, at the same time as fixed by law for certifying thereto general tax levies of incorporated cities, the rate so fixed with directions that at the time and in the manner required by law for levying general taxes for county purposes such board of county commissioners shall levy such general tax upon the assessed valuation of all taxable property within the district, in addition to such other general taxes as may be levied by such board of county commissioners at the rate so fixed and determined.

6. The board, in certifying annual levies, shall take into account such maturing general obligation bonds for the ensuing year and interest on such bonds, and deficiencies and defaults of prior years, and shall make ample provision for the payment thereof.

7. In case the moneys produced from such levies, together with other revenues of the district, are not sufficient punctually to pay the annual installments on such general obligation bonds, and interest thereon, and to pay defaults and deficiencies, the board shall make such additional levies of general taxes as may be necessary for such purposes, and, notwithstanding any limitations, such general taxes shall be made and continue to be levied until such general obligation bonds of the district shall be fully paid.

8. The body having authority to levy general taxes within each county shall levy the general taxes provided in this chapter.

9. All officials charged with the duty of collecting general taxes shall collect such general taxes at the time and in the same form and manner, and with like interest and penalties, as other general taxes are collected and when collected shall pay the same to the district ordering its levy and collection. The payment of such collections shall be made monthly to the treasurer of the district and paid into the depository thereof to the credit of the district.

10. All general taxes levied under this chapter, together with interest thereon and penalties for default in payment thereof, and all costs of collecting the same, shall constitute, until paid, a perpetual lien on and against the property taxed; and such lien shall be on a parity with the tax lien of other general taxes.

11. If the general taxes levied are not paid as provided in this chapter, the property subject to the tax lien shall be sold and the proceeds thereof shall be paid over to the district according to the provisions of the laws applicable to general tax sales and redemptions.

12. Whenever any general obligation indebtedness has been incurred by a district, it shall be lawful for the board to levy general taxes and collect revenue for the purpose of creating a reserve fund in such amount as the board may determine, which may be used to meet the general obligations of the district, for maintenance and operating charges and depreciation, and provide extension of and betterments to the improvements of the district.

[32:24:1928; NCL § 3486]—(NRS A 1964, 16; 2009, 1895)