next primary or general municipal election or primary or general state

election, as applicable, asking whether the local government should be

disincorporated or dissolved. If the electors of the local government do

not approve the disincorporation or dissolution of the local government:

(a) The maximum ad valorem tax levied within the local government,

if any, must be raised to $5 on each $100 of assessed valuation;

(b) Any other taxes or mandatory assessments levied in the local

government, notwithstanding any limitation on those taxes or

assessments provided by statute, must be raised in an amount the Nevada

tax commission determines is necessary to ensure a balanced budget for

the local government; and

(c) The services provided by the local government must be limited in a

manner the Nevada tax commission determines is necessary to ensure a

balanced budget for the local government.

5. If the electors of the local government approve the

disincorporation or dissolution of a local government that is:

(a) Created by another local government, it must be disincorporated

or dissolved:

disincorporation or dissolution of the local government, by the entity that

created the local government. If, at the time of the disincorporation or

dissolution of the local government pursuant to this paragraph, there are

any outstanding loans or bonded indebtedness of the local government,

including, without limitation, loans made to the local government by the

county in which the local government is located, the taxes for the

payment of the bonds or other indebtedness must continue to be levied

and collected in the same manner as if the local government had not

been disincorporated or dissolved until all outstanding indebtedness is

repaid, but for all other purposes the local government shall be deemed

disincorporated or dissolved at the time that the entity which created the

local government disincorporates or dissolves the local government. Any

other liabilities and any remaining assets shall revert to the entity that

created the local government which is being disincorporated or dissolved.

(b) Created by a special or local act of the legislature, it may only be

disincorporated or dissolved by the legislature. The executive director

shall submit notification of the vote approving the disincorporation or

dissolution of the local government to the director of the legislative

counsel bureau for transmittal to the legislature. At the first opportunity,

the legislature shall consider the question of whether the special or local

act will be repealed.

(c) Created in any other manner, it must be disincorporated or

dissolved:

(1) Pursuant to the applicable provisions of law; or

(2) If there are no specific provisions of law providing for the

disincorporation or dissolution of the local government, by the governing

body of that local government. If, at the time of the disincorporation or

dissolution of the local government pursuant to this paragraph, there are

any outstanding loans or bonded indebtedness of the local government,

including, without limitation, loans made to the local government by the

county or counties in which the local government is located, the taxes for

the payment of the bonds or other indebtedness must continue to be

levied and collected in the same manner as if the local government had

not been disincorporated or dissolved until all outstanding indebtedness

is repaid, but for all other purposes the local government shall be deemed

disincorporated or dissolved at the time that the governing body of the

local government disincorporates or dissolves the local government.

Except as otherwise provided in this subparagraph, any other liabilities

and any remaining assets of the local government shall revert to the

board of county commissioners of the county in which the local

government is located. If the local government is located in more than

one county, the governing body of the local government shall apportion

the remaining liabilities and assets among the boards of county

commissioners of the counties in which the local government is located.

6. Within 10 days after the Nevada tax commission makes a

determination pursuant to subsection 4, the executive director shall

notify:

(a) The city clerk, if the local government is a city; or

(b) The county clerk in all other cases,

and provide the clerk with the amount any tax or mandatory assessment

levied by the local government must be raised and a description of the

manner in which the services provided by the local government must be

limited to ensure a balanced budget for the local government.

7. After the executive director notifies the city clerk or the county

clerk, as applicable, pursuant to subsection 6, the clerk shall cause to be

published in a newspaper of general circulation that is printed in the

local government a notice of the election once in each calendar week for

2 successive calendar weeks by two weekly insertions a week apart, the

first publication to be not more than 30 days nor less than 22 days next

preceding the date of the election. If no newspaper is printed in the local

government, publication of the notice of election must be made in a

newspaper printed in this state and having a general circulation in the

local government.

8. The notice required pursuant to subsection 7 must contain the

following information:

(a) That the Nevada tax commission has determined that the severe

financial emergency which exists in the local government is unlikely to

cease to exist within 3 years;

disincorporated or dissolved will be submitted to the electors of the local

government at the next primary or general municipal election or the next

primary or general state election, as applicable; and

(c) That if the electors do not approve the disincorporation or

dissolution:

(1) The maximum ad valorem tax levied within the local

government, if any, will be raised to $5 on each $100 of assessed

valuation;

(2) Any taxes or mandatory assessment levied in the local

government will be raised to ensure a balanced budget for the local

government and the amount by which those taxes or mandatory

assessments will be raised; and

(3) The services the local government provides will be limited to

ensure a balanced budget for the local government and the manner in

which those services will be limited.

dissolution of the local government require that the question of

disincorporating or dissolving be published or submitted to a vote of the

electors of the local government, the publication required by subsection 3

and the election required by subsection 4 satisfy those requirements. If:

(a) There is any other conflict between the provisions of this section

and any provisions providing generally for the disincorporation or

dissolution of a local government; or

(b) The provisions providing generally for the disincorporation or

dissolution of a local government provide additional rights to protest the

disincorporation or dissolution of a local government not provided by

this section,

the provisions of this section control a disincorporation or dissolution

pursuant to this section and any person wishing to protest such a

disincorporation or dissolution must proceed in accordance with the

provisions of this section.

county, a school district or any agency or department of a county or city

which prepares a budget separate from that of the parent political

subdivision.

disincorporation or dissolution of a local government pursuant to section

2 of this act.