Assembly Bill No. 350-Assemblyman Carpenter

351

AN ACT relating to the Elko Convention and Visitors Authority; imposing a limitation upon the maximum indebtedness of the Authority; making certain provisions of NRS applicable to the procedure for bonding pursuant to this act; authorizing the Authority to issue and sell additional bonds in accordance with certain provisions of NRS; providing that bonds may not be issued for the purpose of managing, operating, advertising, publicizing or promoting the facilities of the Authority; repealing certain obsolete provisions; and providing other matters properly relating thereto.

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

Sec. 3.1. 1. The Authority shall not incur an indebtedness in excess of 10 percent of the total assessed valuation of the taxable property within the boundaries of the Authority, as shown by the last preceding assessment.

2. In determining any limitation of debt under this section, the following must not be included in the indebtedness of the Authority:

(a) Any notes or securities that mature within 1 year after the date of issuance; or

(b) Any outstanding revenue bonds or other special obligation securities.

Sec. 3. 1. The Authority is hereby authorized and empowered [without the necessity of an election or further preliminaries (except for the approving bond election hereinafter required) to construct, concurrently or in phases, and otherwise acquire (including a site therefor) a civic auditorium and convention center, including improvements incidental thereto, and equipment and furnishings therefor and all appurtenances to be located within or proximate to the City of Elko, Nevada (herein sometimes referred to as the "Project"); and to defray wholly or in part the cost of the Project by the issuance of Authority Bonds (herein sometimes designated as the "Bonds") in the aggregate principal amount not exceeding $2,500,000 or such lesser amount as the Board of County Commissioners of Elko County, Nevada, may determine in the resolution described in Sections 19 and 20 of this Act as being necessary or desirable for such purpose.

2. After the initial issuance of these bonds, the Authority may:] to:

(a) Establish, construct, purchase, otherwise acquire, reconstruct, repair, maintain, improve, extend and better exposition buildings, convention halls, auditoriums, amusement halls, exhibit buildings, exhibit spaces, display areas, parking spaces, storage and warehousing facilities and other convention and auditorium facilities and buildings therefor, and improvements incidental thereto.

(b) Equip and furnish such facilities.

(c) Acquire suitable sites or grounds for such facilities.

(d) Manage and operate such facilities.

(e) Landscape such facilities.

(f) Advertise, publicize and promote such facilities.

(g) Issue bonds [therefor,] for the purposes set forth in paragraph (a), (b), (c) or (e), or for any combination thereof, at one time or from time to time.

(h) Lease all or any portions of such facilities, including the lease of space for commercial advertising purposes.

(i) Accept contributions, grants, or other financial assistance from:

(1) The Federal Government or any agency thereof;

(2) The State of Nevada or any agency thereof;

(3) Elko County or any agency thereof;

(4) The City of Elko or any agency thereof;

(5) Any other political subdivision of the State of Nevada; and

(6) Any person, corporation, partnership or other source,

and comply with such conditions, terms, leases and agreements as may be necessary, convenient, acceptable or desirable in connection with any such financial assistance.

[3.] 2. Without limiting the generality of the provisions of subsection [2,] 1, such facilities include all buildings and improvements incident thereto, as well as all equipment, furnishings or other personal property located thereon or used in connection therewith, and all sites and grounds which are used as a convention center or auditorium or for purposes related thereto.

Sec. 4. The [Bonds] general obligation bonds authorized to be issued by [section 3 of] this act are general obligation bonds of the Authority payable from general (ad valorem) property taxes to be levied by the County Commissioners of Elko County, Nevada, on behalf of the Board of the Authority, such taxes to be levied upon all taxable properties within the boundaries of the Authority as such boundaries [shall be] are hereafter established and defined and from time to time redefined by reason of inclusion of additional lands.

Sec. 4.5. 1. For any purpose authorized by this act, the Board, at any time or from time to time, in the name and on behalf of the Authority, may:

(a) Issue:

(1) General obligation bonds, payable from taxes; and

(2) General obligation bonds, payable from taxes, whose payment is additionally secured by a pledge of gross or net revenue derived from the operation of those facilities, and, if so determined by the Board, further secured by a pledge of such other gross or net revenue as may be derived from any other income-producing project of the Authority or from any license or other taxes levied for revenue by Elko County or an incorporated city in Elko County, or otherwise, as may be legally made available for their payment; and

(b) Issue revenue bonds payable solely from the net revenue to be derived from the operation of those facilities, as the Board may decide.

2. For the purposes of this act, the electors of the Authority are all persons who [are qualified to vote at general elections in Elko county, and who] reside within the boundaries of the Authority and are qualified to vote in Elko County upon the date of close of registration for any special, primary or general election for bonding or revenue purposes. These electors are entitled to vote at elections on the questions pertaining to the Authority.

3. A special election may be held only if the Board determines, by a unanimous vote, that an emergency exists. The determination made by the Board is conclusive unless it is shown that the board acted with fraud or a gross abuse of discretion. An action to challenge the determination made by the Board must be commenced within 15 days after the board's determination is final. As used in this subsection, "emergency" means any [unexpected] occurrence or combination of occurrences which requires immediate action by the Board to prevent or mitigate a substantial financial loss to the Authority or Elko County or to enable the Board to provide an essential service to the residents of Elko County.

Sec. 5. The [Bonds shall] bonds authorized to be issued pursuant to section 4.5 of this act must be issued [independent of any debt limitation or other restriction, except as otherwise provided in this act and in the Local Government Securities Law, and the Authority acting by its Board may, in connection with the powers authorized by this act, exercise the incidental powers in the Local Government Securities Law,] in accordance with the provisions of chapter 350 of NRS, except as otherwise provided in this act.

Sec. 6. This act does not prevent the Board, on behalf and in the name of the Authority, from refunding or reissuing the [Bonds] bonds issued pursuant to this act at any time as provided in the Local Government Securities Law.

Sec. 7. The County of Elko is hereby authorized to make from time to time fair and reasonable payment to the Authority from its general fund or other available [moneys] money for any use of the [Project] facilities of the Authority by the county or any of its departments, boards, agencies or by any persons sponsored by the county.

Sec. 11.6. 1. In connection with any taxes assigned or appropriated by any city, town or county, or any combination thereof, for use in connection with this act, the Board, upon behalf of the Authority, in addition to powers elsewhere conferred, may but need not:

(a) Collect the proceeds of such taxes from time to time, receive, control, invest and order the expenditure of any money and funds pertaining thereto, prescribe a procedure therefor, including , but not limited to , enforcing the collection of any delinquent taxes and providing penalties in connection therewith, and create an office and hire personnel therefor.

(b) Defray the reasonable costs of collecting and otherwise administering such taxes from not more than 10 percent of the gross revenues so collected , [(] excluding from this limitation and from such gross revenues any costs of collecting any delinquent taxes borne by any delinquent taxpayer . [).] The incorporated cities collectively and the county may enter into an agreement with the Board for the payment of collection fees which may be more or less than 10 percent of the gross revenues collected by a particular city or the county, except that the total payment of collection fees to all the cities and the county may not exceed 10 percent of the combined gross revenues so collected.

(c) Defray further with the proceeds of any such tax the costs of the Board and of officers, agents and employees hired thereby, and of incidentals incurred thereby, of operating and maintaining facilities under the jurisdiction of the Board, including , without limitation , the payment of reasonable expenses pertaining to the promotion of tourism generally, individually and through grants to the chambers of commerce of the incorporated cities of the county or other nonprofit groups or associations, and of improving, extending and bettering any facilities authorized by this act, including , but not limited to , making annual grants to the state, the county and incorporated cities in the county for capital improvements for facilities and of constructing, purchasing or otherwise acquiring any such facilities.

(d) Redeem any general obligation bonds of the Authority issued pursuant to this act, including principal, interest and any prior redemption premium, regardless of whether such taxes are pledged as additional security for their payment.

(e) Make contracts from time to time concerning any such taxes , and any such contract may limit the exercise of powers pertaining thereto, including , without limitation , the right of any city, town or the county from time to time to increase, decrease or otherwise modify the tax , [;] but no such change may be made which would prejudicially affect any pledge of tax proceeds as additional security for the payment of bonds issued pursuant to this act, and each other political subdivision assigning or appropriating such taxes pertaining thereto must consent to any such modification.

(f) Make rules and regulations concerning such taxes and provide penalties for the failure to comply therewith.

(g) Pledge the proceeds of such taxes for the payment of any general obligations issued by the Authority for a purpose authorized under this act. Any proceeds that are pledged pursuant to this paragraph constitute pledged revenue for the purposes of subsection 3 of NRS 350.020.

2. All taxes levied by a city, town or county for use in connection with this act, and collected by any motel, hotel or gaming establishment, is public money from the moment of its collection [, and shall] and must be held in trust by the person collecting it for the use and benefit of the city, town or county levying such taxes or for the use of the Board where such revenues have been assigned or appropriated to the Board.

3. If the Board determines that any tax assigned to it, or penalty or interest thereon, has been paid more than once or has been erroneously or illegally collected or computed, the Board shall, subject to the conditions specified in this section, refund to the person or corporation or its successors, administrators, executors or assigns, the excess amount collected or paid. In lieu of a refund, the Board may grant a credit to the taxpayer against future tax payments.

4. A refund or credit may not be allowed unless a claim therefor is filed with the Board within 2 years from the last date that the overpayment was made. Every claim must be in writing and state the specific grounds upon which the claim is founded.

5. Failure to file a claim within the time prescribed constitutes a waiver of any demand against the city or county imposing the tax and against the Board.

6. Within 30 days after disallowing any claim, in whole or in part, the Board shall serve written notice of its action on the claimant.

7. In order to insure the payment of the revenue or general obligation bonds of the Authority, the payment of which is secured or is additionally secured, as the case may be, by a pledge of the revenues of the facilities, or of any other income-producing project and of any taxes, as provided in this act, or of other special obligations so secured or other additionally secured general obligations of the Authority, the Board may establish and maintain, and from time to time revise, a schedule of fees, rates and charges for services, facilities and commodities rendered by or through the facilities, and of any other income-producing project, and a schedule of any taxes, as the case may be, in an amount sufficient for that purpose, and also sufficient to discharge any covenant in the proceedings of the Board authorizing the issuance of any bonds or other securities, including any covenant for the establishment of reasonable reserve funds.

Sec. 12. [Provisions]

1. The provisions of the Local Government Budget Act, NRS 354.470 to 354.626, inclusive, as now and hereafter amended, [shall] apply to the Authority as a local government , and the Authority shall, for purposes of [such] that application, be deemed a district other than a school district.

2. The provisions of NRS 350.085 to 350.095, inclusive, apply to the Authority.

Sec. 14. [No] A contract for doing construction work for acquiring or improving [the Project provided for herein] any facilities of the Authority or any portion thereof [shall] must not be entered into until the Authority [shall have] has requested competitive bids and published notice stating that bids will be received at a time and place designated therein.