EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted. Green numbers along left margin indicate location on the printed bill (e.g., 5-15 indicates page 5, line 15).

1-1 Section 1. NRS 277.050 is hereby amended to read as follows:

1-2 277.050 1. As used in this section, "public agency" includes , without

1-19 property worth an amount at least equal to the current appraised value of the

2-1 real property being conveyed or exchanged. Money derived from a sale

2-2 must be used for capital outlay.

2-3 4. A lease may be:

2-4 (a) Negotiated without advertising for public bids.

2-5 (b) Made for such consideration as is authorized by action of the

2-6 governing body of the lessor public agency.

2-7 5. Before ordering the sale, exchange or lease of any such property , the

2-8 governing body of a public agency shall, in a regular open meeting, by a

2-9 majority vote of its members, adopt a resolution declaring its intention to

2-10 sell or exchange it, or a resolution declaring its intention to lease it, as the

2-11 case may be. The resolution must:

2-12 (a) Describe the property proposed to be sold, exchanged or leased in

2-13 such a manner as to identify it.

2-14 (b) Specify the minimum price, consideration or rent and the terms upon

2-15 which it will be sold, exchanged or leased.

2-16 (c) Fix a time not less than 2 weeks thereafter for a public meeting of the

2-17 governing body, at which objections to the sale, exchange or lease may be

2-18 made by the electors of the public agency.

2-19 6. Notice of the adoption of the resolution and of the time and place of

2-20 the public meeting must be published in a newspaper of general circulation

2-21 published in the county in which the public agency or any part thereof is

2-22 situated. The notice must be published not less than twice, on successive

2-23 days, the last publication to be not less than 7 days before the date of the

2-24 public meeting.

2-25 7. Any resolution accepting a bid or any other form of acceptance of a

2-26 bid by another public agency must direct the chairman, president or other

2-27 presiding officer of the governing body of the selling, exchanging or lessor

2-28 public agency to execute a deed or lease and to deliver it to the purchasing,

2-29 exchanging or lessee public agency or entity upon the performance and

2-30 compliance by it of all the terms and conditions of the contract to be

2-31 performed concurrently with the delivery.

2-32 Sec. 2. NRS 277.053 is hereby amended to read as follows:

2-33 277.053 A governing body of a political subdivision may convey real

2-35 if the property is to be used for a public purpose.

2-36 Sec. 3. NRS 393.326 is hereby amended to read as follows:

2-43 dedication or otherwise.

3-1 2. The provisions of subsection 1 shall not be construed to permit the

3-2 exchange of any real property in contravention of any condition in a gift or

3-3 devise of real property to the school district.

3-4 Sec. 4. NRS 393.327 is hereby amended to read as follows:

3-5 393.327 Every exchange with an individual, partnership or corporation