Senate Bill No. 506–Committee on Finance

 

CHAPTER..........

 

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:

 

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

 and 4, the Administrator of the Division of State Lands of the State

 Department of Conservation and Natural Resources may sell, in

 accordance with the procedures set forth in NRS 321.335, the

 National Guard Armory located on South Carson Street in Carson

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

 the National Guard Armory as the interests of this state may

 require, in the sole discretion of this state, for not more than 4 years

 after the date of the sale. Money received from the sale, less any

 costs related to the sale, must be deposited in the Contingency Fund

 created by NRS 353.266.

    2.  Upon the request of the State Public Works Board, the

 Interim Finance Committee may transfer to the appropriate account

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

 the Contingency Fund pursuant to subsection 1. Except as

 otherwise provided in this subsection, money transferred pursuant

 to this subsection must be used for costs of construction and other

 costs associated with the project numbered and described in the

 executive budget for the Fiscal Years 2003-2004 and 2004-2005 or

 otherwise described as project 03-C6, State Emergency Operations

 Center. After completion of the project described in this subsection

 and payment of all costs of construction and other costs associated

 with the project, any remaining money that was transferred

 pursuant to this subsection reverts to the Contingency Fund.

    3.  The Administrator of the Division of State Lands of the

 State Department of Conservation and Natural Resources may not

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

 requirements set forth in NRS 321.335, including, without

 limitation, obtaining the approval of the State Board of Examiners

 and the Interim Finance Committee pursuant to subsection 2 of

NRS 321.335.

    4.  The Administrator of the Division of State Lands of the

 State Department of Conservation and Natural Resources may not

 make the sale described in subsection 1 if:

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

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

 any other settlement agreement finalized after that date, between

 leading investment firms and the Securities and Exchange

 Commission, or any resulting settlement agreements between such

 leading investment firms and this state entered into on or after

April 28, 2003;

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

 transferred to the appropriate account for the use of the State Public

 Works Board for costs of construction and other costs associated

 with the project described in subsection 2; and

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

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

 federal grants and other money made available for costs of

 construction and other costs associated with the project described in

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

 costs associated with the project described in subsection 2.

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

 

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