Nevada § 539.325 - Contracts for release of mortgages or liens; assumption by district of indebtedness due United States; apportionment of benefits; collection and payment of taxes and assessments

§ 539.325. Contracts for release of mortgages or liens; assumption by district of indebtedness due United States; apportionment of benefits; collection and payment of taxes and assessments

1. The board of directors may also provide by contract with the United States for

the release of mortgages or liens given or reserved to the United States upon district

lands, and may provide for the assumption by the district, either as principal or

guarantor, of indebtedness to the United States on account of district lands, and

apportion to each tract of land so released benefits in the amount of the obligations

to the United States so provided to be released. 2. The contract between the district and the United States may provide for the collection

and payment of indebtedness so incurred or assumed by the district and the tax or

assessment for the same at the same times and in the same amounts or installments

provided in the federal reclamation laws. If so provided in the contract, such taxes and assessments shall become delinquent

at the same dates provided in the Act of Congress of August 13, 1914, being c. 247,

38 Stat. 686, known as the Reclamation Extension Act. If it is provided in the contract that the United States waives any penalties for

delinquency other or greater than those named in the Reclamation Extension Act, then,

instead of the penalties otherwise provided in state laws, the penalties for delinquency

in the payment of that part of the tax representing the special assessment for payment

of the obligations of the district to the United States shall be the penalties named

in the Reclamation Extension Act, and the amount required to be paid in case of any

redemption from any tax sale or tax judgment shall be determined by figuring the part

thereof due to the United States upon the basis of the amount of such special assessment

levied for the purpose of paying the United States plus the penalties named in the

Reclamation Extension Act. 3. The board shall have full power to do any and all things required by the federal

statutes now or hereafter enacted in connection therewith, and all things required

by the rules and regulations now or that may hereafter be established by any department

of the Federal Government in regard thereto.