1. Before ordering the sale or lease of any property, the board of trustees shall, in an open meeting by a majority vote of the members, adopt a resolution declaring its intention to sell the property, or a resolution declaring its intention to lease it.

2. The resolution must:

(a) Describe the property proposed to be sold or leased in such a manner as to identify it.

(b) Specify the minimum price or rental, and the terms upon which it will be sold or leased, and the commission, if any, which must not exceed the normal commissions prevailing in the community at the time, which the board will pay to a licensed real estate broker.

(c) Except as otherwise provided in NRS 393.247, fix a time, not less than 3 weeks thereafter, for a public meeting of the board of trustees to be held at its regular place of meeting, at which sealed proposals to purchase or lease will be received and considered.

3. In addition to the requirements specified in subsection 2, if the property proposed to be sold is a house or other structure built by pupils enrolled in a program of instruction offered by a public school in the school district and the board of trustees has listed the house or structure with a real estate broker pursuant to the provisions of subsection 3 of NRS 393.245, the resolution required pursuant to the provisions of this section must include:

(a) The name, business address and telephone number of the real estate broker; and

(b) The period during which the house or structure may be inspected by prospective purchasers.

[433:32:1956] — (NRS A 1967, 269; 1975, 32; 2001, 589)