Nevada § 271.475 - Bonds: Power to issue; adoption and effective date of ordinance; payment of proceeds used to pay costs of energy efficiency improvement project or renewable energy project

§ 271.475. Bonds: Power to issue; adoption and effective date of ordinance; payment of proceeds used to pay costs of energy efficiency improvement project or renewable energy project

1. The governing body shall likewise have power to issue negotiable bonds in an amount

not exceeding the total unpaid assessments levied to pay the cost of any project,

howsoever acquired, as hereinafter provided. 2. Any ordinance pertaining to the sale, issuance or payment of bonds or other securities

of the municipality, or any combination thereof, may: (a) Be adopted as if an emergency existed. The declaration of the governing body, if any, is conclusive in the absence of fraud

or gross abuse of discretion. (b) Become effective at any time when an emergency ordinance of the municipality may

go into effect. (c) Be adopted by not less than two-thirds of all of the voting members of the governing

body, excluding from any such computation any vacancy on the governing body and any

member thereon who may vote only to break a tie vote. 3. The proceeds of bonds which are to be used to pay the costs of construction, acquisition

or installation of an energy efficiency improvement project or renewable energy project

within a district created pursuant to subsection 1 of NRS 271.6312 must be paid to the contractor as directed in writing by the owner of the tract on

which the project is located or, if the owner has paid the contractor, must be paid

to reimburse the owner, but in either case, only upon receipt of: (a) Written evidence that the installation or improvement is complete, or verification

through an inspection if so authorized in the resolution adopted pursuant to NRS 271.6325 or if the municipality otherwise determines to make an inspection; (b) A waiver of any mechanic's or materialman's lien if so authorized in the resolution

adopted pursuant to NRS 271.6325 ; and (c) Written evidence that the total contract price has been paid, unless the price

is to be paid by the municipality to or at the direction of the contractor. No such inspection or review or receipt of a waiver imposes any liability on the municipality

for any constructed, acquired or installed energy efficiency improvement project or

renewable energy project or any unconstructed, unacquired or uninstalled item, any

defect in any such item, any failure of any party to pay for any item, or any lien,

including, without limitation, any mechanic's or materialman's lien.