NRS 267.125
Land improvement fund: Creation by ordinance

  • composition
  • expenditures.

1.

The governing body of a city having the type of commission form of government described in paragraph (b) of subsection 1 of NRS 267.010, which has acquired by the provisions of any federal or any other law real property within its corporate boundaries, and which has adopted a policy, by its charter, of leasing or selling such real property, or portions thereof, in a manner that will result in the maximum benefit accruing to the city from such leases and sales, may, by ordinance, with the approval of the Department of Taxation, create a land improvement fund, which fund shall not be subject to the provisions of chapter 354 of NRS.

2.

The land improvement fund may be composed of:

(a)

Moneys transferred from any capital improvement fund existing pursuant to the provisions of the charter when so authorized by the registered voters of the city at an election.

(b)

Moneys contributed from the general fund of the city by action of the governing body, which contributions need not be repaid to the general fund of the city.

(c)

Such portion of the proceeds received by the city from the lease and sale of the real property as may be provided for by the charter or by city ordinance.

(d)

Any other moneys the deposit of which in the land improvement fund is budgeted for by the governing body or authorized by the registered voters of the city.

3.

Moneys in the land improvement fund may be expended for:

(a)

Preparation of real property for sale or lease and costs incidental thereto.

(b)

Acquisition and construction of improvements on such real property prior to its sale or lease.

Source: Section 267.125 — Land improvement fund: Creation by ordinance; composition; expenditures., https://www.­leg.­state.­nv.­us/NRS/NRS-267.­html#NRS267Sec125.

267.010
Definitions. 267.020
City may adopt commission form of government. 267.030
Petition for adoption of commission form of government 267.040
Nomination and election of electors to frame charter. 267.050
Canvass of returns of election 267.060
Elected persons to frame charter 267.070
Election for adoption or rejection of charter: Publication of charter 267.080
Canvass and declaration of result of election 267.090
Certification of charter. 267.100
Recording and attesting of charter and amendments 267.110
Powers of city with commission form of government 267.120
General powers of a city with commission form of government. 267.123
Public works: City’s powers subordinate to powers of regional planning agency. 267.125
Land improvement fund: Creation by ordinance 267.140
Election to terminate commission form of government: Notice 267.450
Definitions. 267.455
“Acquisition” and “acquire” defined. 267.460
“Drainage project” defined. 267.465
“Federal Government” defined. 267.470
“Governing body” defined. 267.475
“Improvement” and “improve” defined. 267.480
“Municipal” defined. 267.485
“Municipality” defined. 267.490
“Project” defined. 267.495
“Sewerage project” defined. 267.500
“Water project” defined. 267.505
Request by municipality for Federal Government to undertake project 267.510
Repayment contracts: Powers of municipality. 267.515
Cooperation with Federal Government. 267.520
Validation and ratification of contracts outstanding on March 28, 1969. 267.525
Legislative authority for validation of contracts and projects. 267.530
Liberal construction.
Last Updated

Feb. 5, 2021

§ 267.125’s source at nv​.us