1. Before creating a district pursuant to NRS 271.6312, a governing body must adopt a resolution which specifies the procedures for the creation and administration of such a district. The resolution may provide for one or more of the following:

(a) Additional notices of the proposal to create the district, notices of the opportunity to apply for inclusion in the district or any other notices;

(b) A reserve of money for bonds issued for the district, the method of funding the reserve and the disposition of any interest earned upon or the principal of the reserve that is not needed to repay any bonds or interim warrants issued for the purposes of financing an energy efficiency improvement project or renewable energy project within the district;

(c) Any other security for those bonds or interim warrants, and the method of determining the term of the bonds in compliance with NRS 271.515;

(d) Any requirements for casualty insurance, liability insurance or other types of insurance for any project within the district;

(e) The method of determining the lien-to-value ratio of the property for the purpose of complying with the limitation prescribed by paragraph (d) of subsection 1 of NRS 271.6315;

(f) Any limitation on the lien-to-value ratio that would result in a lower lien-to-value ratio than that prescribed by paragraph (d) of subsection 1 of NRS 271.6315;

(g) Any limitation on the amount of the contract price, as a percentage of the estimated maximum benefit, that is lower than the limitation prescribed by NRS 271.6321;

(h) Any sources, other than the proceeds of assessments, that will be used to pay:

(1) The cost of construction and installation of improvements financed pursuant to NRS 271.6312 to 271.6325, inclusive;

(2) The cost of any reserve of money or other security for financing an energy efficiency improvement project or renewable energy project pursuant to NRS 271.6312 to 271.6325, inclusive; or

(3) The cost of engineering work, the cost to issue any bonds or provide other financing, or the cost of other incidentals pursuant to NRS 271.6312 to 271.6325, inclusive;

(i) Any other security features, covenants required of property owners, covenants required of other parties or any other covenants, guarantees, insurance or other matters which the governing body finds are necessary or desirable for the financing of an energy efficiency improvement project or renewable energy project pursuant to NRS 271.6312 to 271.6325, inclusive; and

(j) Any other matters, procedures or financing terms which the governing body, in its sole discretion, determines are necessary or desirable to carry out the purposes of NRS 271.6312 to 271.6325, inclusive.

2. A resolution adopted pursuant to this section:

(a) Must contain or incorporate by reference an exhibit describing each tract to be assessed, the type of improvement or installation to be financed for each tract and the estimated maximum benefit as stated in the consent provided pursuant to paragraph (b) of subsection 1 of NRS 271.6315.

(b) May be adopted as if an emergency exists by a vote of not less than two-thirds of all the voting members of the governing body.

(Added to NRS by 2017, 1396)