384.170 - Creation and use of Trust Fund; acceptance of gifts, devises and bequests; sale and lease of property; no power of eminent domain.
384.170 Creation and use of Trust Fund; acceptance of gifts, devises and bequests; sale and lease of property; no power of eminent domain.
1. The Commission may accept gifts, donations, devises or bequests of real or personal property for the purpose of enabling it to carry out a program of historic preservation and restoration within the District, and it may expend the same for that purpose. The Commission may sell, or lease for periods not to exceed 20 years, real or personal property for use within the District which it may acquire.
2. The Commission shall deposit gifts or donations of money and any money acquired from selling or leasing the items described in subsection 1 in the Trust Fund for the Comstock Historic District which is hereby created in the State Treasury. The Fund must be administered by the Commission. Any interest earned on the money in the Fund must be credited to the Fund. The money deposited in the Fund and all interest paid thereon may be expended only for the maintenance of the Commission or to carry out the program of historic preservation and restoration within the District.
3. The Commission has no power of eminent domain.
(Added to NRS by 1969, 1639; A 1995, 52)