NRS 318.5122 Resolution declaring intent to sell at auction and finding that sale is in best interest of district; notice.

363 words·~2 min read·/nv/chapter-318-general-improvement-districts/318-5122·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

1. Except as otherwise provided in NRS 318.1177 , 318.118 , 318.215 and 318.5124 , before ordering the sale of any real property owned by the general improvement district, the board of trustees shall, in open meeting by a majority vote of the members, adopt a resolution declaring the intention of the board to sell the property at auction and finding that the sale is in the best interest of the district. The resolution must:

(a)Describe the property proposed to be sold in such a manner as to identify the property.

(b)Specify the minimum price and the terms upon which the property will be sold.

(c)Fix a time, not less than 3 weeks thereafter, for a public meeting of the board of trustees to be held at its regular place of meeting, at which sealed bids will be received and considered.

2. Notice of the adoption of the resolution and of the time and place of holding the meeting must be given by:

(a)Posting copies of the resolution in three public places in the district not less than 15 days before the date of the meeting; and

(b)Causing to be published at least once a week for 3 successive weeks before the meeting, in a newspaper qualified under chapter 238 of NRS that is published in the county in which the real property is located, a notice setting forth:

(1)A description of the real property proposed to be sold at auction in such a manner as to identify the property;

(2)The minimum price of the real property proposed to be sold at auction; and

(3)The places at which the resolution described in subsection 1 has been posted pursuant to paragraph (a), and any other places at which copies of that resolution may be obtained.

Ê If no qualified newspaper is published within the county in which the real property is located, the required notice must be published in some qualified newspaper printed in the State of Nevada and having a general circulation within the county.