2. A resolution of necessity required pursuant to paragraph (b) of subsection 1 must set forth:

(a) A statement that the property will be acquired for purposes of redevelopment as authorized pursuant to subsection 17 of NRS 37.010 and subsection 2 of NRS 279.470;

(b) A reasonably detailed description of the property to be acquired;

(c) A finding by the agency that the public interest and necessity require the acquisition of the property;

(d) A finding by the agency that acquisition of the property will be the option for redevelopment that is most compatible with the greatest public good and the least private injury; and

(e) A finding by the agency that acquisition of the property is necessary for purposes of redevelopment.

3. After an agency adopts a resolution of necessity, the resolution so adopted and the findings set forth in the resolution are final and conclusive and are not subject to judicial review unless credible evidence is adduced to suggest that the resolution or the findings set forth therein were procured through bribery or fraud.".

"sections 2 and 3" and inserting "section 1".

"and are a menace to the public health, safety or welfare".

279.438 A redevelopment plan adopted before July 1, 1987, and any amendments to the plan must terminate at the end of the fiscal year in which the principal and interest of the last maturing of the securities issued before that date are fully paid or [at the time provided in NRS 279.439,] 45 years after the date on which the original redevelopment plan was adopted, whichever is later.

Sec. 5. NRS 279.468 is hereby amended to read as follows:

4. For each neighborhood within the redevelopment area, create a residential plan for the neighborhood or appoint an advisory council for redevelopment and delegate the authority to create the residential plan to the advisory council. A residential plan created by an advisory council must be approved by the agency, and each residential plan created pursuant to this subsection must include a financing plan.

5. Include in its budget all money received from any source, including, without limitation, money received from a local government for use by an advisory council in carrying out a residential plan approved by the agency.".

Amend sec. 8, page 4, line 22, by deleting "section 2" and inserting "section 1".

Amend the bill as a whole by deleting sec. 9 and renumbering sections 10 through 15 as sections 7 through 12.

Amend sec. 12, page 6, line 5, after "participation" by inserting "and assistance".

". [if] If " and inserting "if ".

Amend sec. 12, page 6, by deleting lines 8 through 10 and inserting:

Amend sec. 14, page 6, by deleting lines 28 through 35 and inserting:

"279.685 1. Except as otherwise provided in [subsection 2 or 3,] this section, an agency of a city whose population is 200,000 or more that receives revenue from taxes pursuant to paragraph (b) of subsection 1 of NRS 279.676 shall set aside not less than 15 percent of that revenue received on or before October 1, 1999, and 18 percent of that revenue received after October 1, 1999, to".

Amend sec. 14, page 7, by deleting lines 6 through 11 and inserting:

"3. The obligation of an agency to set aside an additional 3 percent of the revenue from taxes allocated to and received by the agency pursuant to paragraph (b) of subsection 1 of NRS 279.676 is subordinate to any existing obligations of the agency. As used in this subsection, "existing obligations"".

Amend sec. 14, page 7, line 14, by deleting "July" and inserting "October".

Amend sec. 14, page 7, line 16, by deleting "July" and inserting "October".

Amend sec. 15, page 7, line 32, after "thereto." by inserting:

"Nothing in this section prohibits the payment of relocation benefits to a renter or lessee of real property whose tenancy is from month to month.".

Amend the bill as a whole by deleting sections 16 and 17.