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Current as of January 01, 2025 | Updated by Findlaw Staff
1. If the governing body of a local government:
(a) Receives notice that a qualified project is or will be located within the jurisdiction of the local government; and
(b) Determines that there is a need to finance infrastructure projects within the jurisdiction of the local government to support the development of the qualified project,
the governing body may prepare and submit to the Office for approval an economic development financing proposal pursuant to which the infrastructure projects identified in the proposal would be financed from the proceeds of bonds, securities or other indebtedness issued by the State of Nevada.
2. An economic development financing proposal submitted pursuant to subsection 1:
(a) May include, without limitation, provisions for the financing of one or more infrastructure projects;
(b) Must include the creation of one or more districts or areas by the local government pursuant to chapters 271, 271A and 278C of NRS and the pledge of revenue from such districts or areas for the repayment of any bonds, securities or other indebtedness issued by the State of Nevada to finance the projects; and
(c) Must include such other provisions and information as may be required by the Office.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 32. Revenue and Taxation § 360.989. Submittal and contents of economic development financing proposal - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-32-revenue-and-taxation/nv-rev-st-360-989/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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