Nevada § 278C.170 - Provisional order: Meeting; notice of meeting; comments about undertaking; modification or rescission of proceedings; restrictions on changes after provision of notice

§ 278C.170. Provisional order: Meeting; notice of meeting; comments about undertaking; modification or rescission of proceedings; restrictions on changes after provision of notice

1. In the resolution making the provisional order, the governing body shall set a

time and place for a meeting to consider the ordering of the undertaking and hear

all complaints, protests, objections and other relevant comments concerning the undertaking

that are made in accordance with subsection 2. The time for the meeting must be at least 20 days after the date the governing body

adopts the resolution that provisionally orders the undertaking. 2. The Federal Government, the State, any public body, any natural person who resides

in the municipality or owns taxable personal or real property in the municipality,

any retailer or employer, if applicable, that is located within the proposed tax increment

area pertaining to the undertaking, or any representative of any such natural person

or entity, may submit a complaint, protest, objection or other comment about the undertaking

before the governing body. If such an entity or person desires to submit a complaint, protest, objection or

other comment about the undertaking for consideration by the governing body, the entity

or person must: (a) File a written complaint, protest, objection or other comment about the undertaking

with the clerk at least 3 days before the date of the meeting described in subsection

1; (b) Present an oral complaint, protest, objection or other comment about the undertaking

to the governing body at the meeting described in subsection 1; or (c) Present the complaint, protest, objection or other comment in the manner required

pursuant to paragraphs (a) and (b). 3. Notice of the meeting described in subsection 1 must be given: (a) To all persons on the list established pursuant to NRS 278C.180 , by mailing; (b) By posting; and (c) By publication. 4. The notice must: (a) Describe the undertaking and the project or projects relating thereto without

mentioning minor details or incidentals; (b) State the preliminary estimate of the cost of the undertaking, including all incidental

costs, as stated in the preliminary plans, estimate of costs and statements of the

engineer filed with the clerk pursuant to NRS 278C.160 ; (c) Describe the proposed tax increment area pertaining to the undertaking, including: (1) The last finalized amount of the assessed valuation of the taxable property in

the area, and the amount of taxes, including in such amount the sum of any unpaid

taxes, whether or not delinquent, resulting from the last taxation of the property,

based upon the records of the county assessor and the county treasurer; and (2) If the undertaking is a natural resources project or a rail project for which

the municipality has received approval from the Interim Finance Committee pursuant

to NRS 278C.157 : (I) The total amount of taxes imposed on the sale or use of tangible personal property

in the area in the immediately preceding fiscal year, based upon the records of the

Department of Taxation; and (II) The total amount of taxes imposed pursuant to NRS 363A.130 and 363B.110 on employers in the area in the immediately preceding fiscal year, based upon the

records of the Department of Taxation; (d) State what portion of the expense of the undertaking will be paid with the proceeds

of securities or other allowable borrowing instruments issued by the municipality

in anticipation of tax proceeds to be credited to the tax increment account and payable

wholly or in part therefrom, and state the basic security and any additional security

for the payment of securities or other allowable borrowing instruments of the municipality

pertaining to the undertaking; (e) State how the remaining portion of the expense, if any, is to be financed; (f) State the estimated amount of the tax proceeds to be credited annually to the

tax increment account pertaining to the undertaking during the term of the proposed

securities or other allowable borrowing instruments payable from such proceeds, and

the estimated amount of any net revenues derived annually from the operation of the

project or projects pertaining to the undertaking and pledged for the payment of those

securities or other allowable borrowing instruments; (g) State the estimated aggregate principal amount to be borrowed by the issuance

of the securities or other allowable borrowing instruments, excluding proceeds thereof

to fund or refund outstanding securities, and the estimated total bond requirements

of the securities or other allowable borrowing instruments; (h) Find, determine and declare that the estimated tax proceeds to be credited to

the tax increment account and any such net pledged revenues will be fully sufficient

to pay the bond requirements of the securities or other allowable borrowing instruments

as they become due; and (i) State the date, time and place of the meeting described in subsection 1. 5. All proceedings may be modified or rescinded wholly or in part by resolution adopted

by the governing body at any time before the governing body passes the ordinance ordering

the undertaking and creating the tax increment area and the tax increment account

pertaining thereto pursuant to NRS 278C.220 . 6. Except as otherwise provided in this section, a public body shall not make a substantial

change in the undertaking, the preliminary estimates, the proposed tax increment area

or other statements relating thereto after the first publication or posting of notice

or after the first mailing of notice to the property owners, whichever occurs first,

without additional notice and a hearing pursuant to this section. A public body may delete a portion of the undertaking and property from the proposed

tax increment area without notice and a hearing pursuant to this section. A subsequent final determination of the amount of assessed valuation of taxable

property in the tax increment area or a subsequent levy or imposition of taxes does

not adversely affect proceedings taken pursuant to this chapter. 7. The engineer may make minor changes in and develop the undertaking as to the time,

plans and materials entering into the undertaking at any time before its completion. Any minor changes authorized by this subsection must be made a matter of public

record at a public meeting of the governing body.