Nevada § 268.048 - Acquisition, sale or lease of real property by certain cities for industrial development; notice; hearing; option to purchase property
Full text of Nevada Nevada Revised Statutes § 268.048 — Acquisition, sale or lease of real property by certain cities for industrial development; notice; hearing; option to purchase property, with citation guidance and answers to common questions.
§ 268.048. Acquisition, sale or lease of real property by certain cities for industrial development; notice; hearing; option to purchase property
1. The governing body of a city located in a county whose population is less than
15,000, upon making a finding pursuant to a public hearing that a city industrial
park is necessary to meet the needs of the city, and that no private enterprise has
presented an acceptable proposal for industrial development, may develop a plan and
establish requirements for the: (a) Acquisition, sale or lease of real property by the city for industrial development;
and (b) Design, engineering and construction of industrial developments. 2. The governing body shall: (a) Give notice of its intention by publication at least once in a newspaper of general
circulation published in the city, or if there is no such newspaper then in a newspaper
of general circulation in the city published in the State; and (b) Hold its public hearing not less than 10 nor more than 20 days after the date
of publication of the notice. 3. The governing body may grant an option to purchase property designated for industrial
development. The duration of the option must not exceed 3 years but afterward the governing body
may extend it year by year. Any attempted assignment of the option, whether contractual or effected by operation
of law, is void. Upon its execution, the option must immediately be recorded by the governing body
with the county recorder. 4. After review by the planning commission, a member of the governing body or the
purchaser or lessee of the property shall present the proposed plan for an industrial
development to the governing body. 5. The governing body shall, after a public hearing, approve or reject the proposed
plan.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 268.048
What does Nevada Revised Statutes § 268.048 cover?
Section 268.048 ("Acquisition, sale or lease of real property by certain cities for industrial development; notice; hearing; option to purchase property") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 268.048?
A common citation format is "Nevada Revised Statutes § 268.048" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 268.048 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.