NRS 271A.110 - Agreement with owner of property interest within district to defray cost of local governmental services during term of pledge: Contents; finding by governing body of municipality.

NV Rev Stat § 271A.110 (2019) (N/A)

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1. The governing body of a municipality may, except as otherwise provided in subsection 2, enter into an agreement with one or more of the owners of any interest in property within a district, pursuant to which that owner would agree to make payments to the municipality or to another local government that provides services in the district, or to both, to defray, in whole or in part, the cost of local governmental services during the term of the use of any money pledged pursuant to NRS 271A.070. Such an agreement must specify the amount to be paid by the owner of the property interest, which may be stated as a specified amount per year or as an amount based upon any formula upon which the municipality and owner agree.

2. The governing body of a municipality shall not enter into an agreement pursuant to subsection 1 unless the governing body has made a written finding pursuant to subsection 3 of NRS 271A.080 that the project and the use of any money pledged pursuant to NRS 271A.070 will not have a positive fiscal effect on the provision of local governmental services.

(Added to NRS by 2005, 2366; A 2013, 2786)

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NRS 271A.105 - Annual report to Legislature by municipality; semiannual report to Legislature by Department of Taxation; exception.

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NRS 271A.120 - Issuance of special obligations; agreements to reimburse entities or persons for project costs; restrictions on financing and reimbursement; feasibility studies; default on special obligations or agreements; security for special obligations or agreements; automatic termination of special obligations.