Senate Bill No. 506–Committee on Finance

 

June 1, 2003

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Referred to Committee on Finance

 

SUMMARY—Authorizes sale of National Guard Armory located in Carson City under certain circumstances. (BDR S‑1373)

 

FISCAL NOTE:  Effect on Local Government: No.

                           Effect on the State: No.

 

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EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.

 

AN ACT relating to state financial administration; authorizing the sale of the National Guard Armory located in Carson City under certain circumstances; and providing other matters properly relating thereto.

 

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN

SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

 

1-1  Section 1. 1.  Except as otherwise provided in subsections 3

1-2  and 4, the Administrator of the Division of State Lands of the State

1-3  Department of Conservation and Natural Resources may sell, in

1-4  accordance with the procedures set forth in NRS 321.335, the

1-5  National Guard Armory located on South Carson Street in Carson

1-6  City. The terms of the sale must allow this state to continue to use

1-7  the National Guard Armory as the interests of this state may require,

1-8  in the sole discretion of this state, for not more than 4 years after the

1-9  date of the sale. Money received from the sale, less any costs related

1-10  to the sale, must be deposited in the Contingency Fund created by

1-11  NRS 353.266.

1-12      2.  Upon the request of the State Public Works Board, the

1-13  Interim Finance Committee may transfer to the appropriate account

1-14  for the use of the State Public Works Board any money deposited in

1-15  the Contingency Fund pursuant to subsection 1. Except as otherwise

1-16  provided in this subsection, money transferred pursuant to this

1-17  subsection must be used for costs of construction and other costs

2-1  associated with the project numbered and described in the executive

2-2  budget for the Fiscal Years 2003-2004 and 2004-2005 or otherwise

2-3  described as project 03-C6, State Emergency Operations Center.

2-4  After completion of the project described in this subsection and

2-5  payment of all costs of construction and other costs associated with

2-6  the project, any remaining money that was transferred pursuant to

2-7  this subsection reverts to the Contingency Fund.

2-8  3.  The Administrator of the Division of State Lands of the

2-9  State Department of Conservation and Natural Resources may not

2-10  make the sale described in subsection 1 unless he complies with all

2-11  requirements set forth in NRS 321.335, including, without

2-12  limitation, obtaining the approval of the State Board of Examiners

2-13  and the Interim Finance Committee pursuant to subsection 2 of NRS

2-14  321.335.

2-15      4.  The Administrator of the Division of State Lands of the

2-16  State Department of Conservation and Natural Resources may not

2-17  make the sale described in subsection 1 if:

2-18      (a) This state receives money during the 2003-2005 biennium as

2-19  a result of the settlement agreement finalized on April 28, 2003, or

2-20  any other settlement agreement finalized after that date, between

2-21  leading investment firms and the Securities and Exchange

2-22  Commission, or any resulting settlement agreements between such

2-23  leading investment firms and this state entered into on or after

2-24  April 28, 2003;

2-25      (b) A portion of the money described in paragraph (a) is

2-26  transferred to the appropriate account for the use of the State Public

2-27  Works Board for costs of construction and other costs associated

2-28  with the project described in subsection 2; and

2-29      (c) As determined by the Interim Finance Committee, the money

2-30  transferred pursuant to paragraph (b), when combined with any

2-31  federal grants and other money made available for costs of

2-32  construction and other costs associated with the project described in

2-33  subsection 2, is sufficient to pay the costs of construction and other

2-34  costs associated with the project described in subsection 2.

2-35      Sec. 2.  This act becomes effective on July 1, 2003.

 

2-36  H