360.720 - Enterprise districts prohibited from pledging revenue from Account to secure obligations; qualifications of certain governmental entities for allocations from Account.
360.720 Enterprise districts prohibited from pledging revenue from Account to secure obligations; qualifications of certain governmental entities for allocations from Account.
1. An enterprise district shall not pledge any portion of the revenues from any of the taxes included in the Account to secure the payment of bonds or other obligations.
2. The Executive Director shall ensure that a governmental entity created between July 1, 1996, and July 1, 1998, does not receive money from the taxes included in the Account unless that governmental entity provides police protection and at least two of the following services:
(a) Fire protection;
(b) Construction, maintenance and repair of roads; or
(c) Parks and recreation.
3. As used in this section:
(a) “Construction, maintenance and repair of roads” has the meaning ascribed to it in NRS 360.740.
(b) “Fire protection” has the meaning ascribed to it in NRS 360.740.
(c) “Parks and recreation” has the meaning ascribed to it in NRS 360.740.
(d) “Police protection” has the meaning ascribed to it in NRS 360.740.
(Added to NRS by 1997, 3282; A 1999, 13)