Nevada § 360.830 - Acquisition or expansion of certain public utilities: Requirements for interlocal agreements for compensation of affected local governments

§ 360.830. Acquisition or expansion of certain public utilities: Requirements for interlocal agreements for compensation of affected local governments

1. Except as otherwise provided in this section, if on or after July 1, 2003, a local

government: (a) Acquires from another entity a public utility that provides water service or sewer

service; or (b) Expands facilities for the provision of water service, sewer service, electric

service, natural gas service, telecommunication service or community antenna television,

cable television or other video service, and the expansion results in the local government

serving additional retail customers who were, before the expansion, retail customers

of a public utility which provided that service, the local government shall enter into an interlocal agreement with each affected local

government to compensate the affected local government each fiscal year, as nearly

as practicable, for the amount of any money from state and local taxes and franchise

fees and from payments in lieu of those taxes and franchise fees, and for any compensation

from a local government pursuant to this section, the affected local government would

be entitled to receive but will not receive because of the acquisition of that public

utility or expansion of those facilities as provided in this section. 2. An affected local government may waive any or all of the compensation to which

it may be entitled pursuant to subsection 1. 3. The provisions of this section do not require a: (a) Local government to provide any compensation to an affected local government to

the extent that the provision of that compensation would cause a deficiency in the

money available to the local government to make required payments of principal of,

premium, if any, or interest on any bonds or other securities issued to finance the

acquisition of that public utility or expansion of those facilities, or to make required

payments to any funds established under the proceedings under which those bonds or

other securities were issued. (b) County to duplicate any compensation an affected local government receives from

any payments in lieu of taxes required pursuant to NRS 244A.755 .