Assembly Bill No. 293–Assemblymen Williams, Arberry, Bache, Berman, Cegavske, Chowning, Gibbons, Giunchigliani, Gustavson, Hettrick, Humke, Lee, Manendo, Nolan, Oceguera, Parnell, Price, Smith and Von Tobel

 

CHAPTER..........

 

AN ACT relating to libraries; authorizing the board of county commissioners and governing body of city that initially formed consolidated library district to adopt resolutions which support or oppose in whole or in part a proposal for the issuance of general obligation bonds for the consolidated library district; and providing other matters properly relating thereto.

 

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN

SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

 

   Section 1. NRS 379.0225 is hereby amended to read as follows:

   379.0225  1.  Except as otherwise provided in this subsection, the

 trustees of a consolidated or county library district may propose the

 issuance of general obligation bonds in an amount not to exceed 10

 percent of the total last assessed valuation of the taxable property of the

 district for the purpose of acquiring, constructing or improving buildings

 and other real property to be used for library purposes or for purchasing

 books, materials or equipment for newly constructed libraries. The trustees

 of a consolidated library district shall not propose an issuance of bonds or

 any other form of indebtedness unless a public hearing on the proposal is

 first held before the board of county commissioners and the governing

 body of the city [.

   2.  If the trustees decide to propose the issuance of bonds, the proposal]

 that initially formed the consolidated library district pursuant to NRS

 379.0221. After such a public hearing has been held, the board of

 county commissioners and the governing body of the city may each:

   (a) Adopt a resolution that supports or opposes in whole or in part the

 proposal of the trustees of the consolidated library district; and

   (b) Transmit the resolution to the debt management commission of the

 county in which the district is situated.

   2.  A proposal for the issuance of bonds pursuant to subsection 1

 must be submitted to the debt management commission of the county in

 which the district is situated [,] for its approval or disapproval, pursuant

 to the provisions of NRS 350.001 to 350.006, inclusive. If the debt

 management commission approves the proposed issuance, the question of

 issuing the bonds must be submitted to the registered electors of the

 district in accordance with the provisions of NRS 350.020 to 350.070,

 inclusive. If a majority of the electors voting on the question favors the

 proposal, the board of county commissioners shall issue the bonds as

 general obligations of the consolidated or county library district pursuant

 to the provisions of the Local Government Securities Law.

   3.  Any bond issued for purchasing books, materials or equipment for

 newly constructed libraries must be redeemed within 5 years after its

 issuance.

 

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