Nevada Revised Statutes
Chapter 268 - Powers and Duties Common to Cities and Towns Incorporated Under General or Special Laws
NRS 268.062 - Sale or lease of certain real property at auction: Resolution declaring intention to sell or lease property; requirements; notice; procedure; deposit to cover certain costs; effect of sale or lease in violation of section.

1. Except as otherwise provided in this section and NRS 268.048 to 268.058, inclusive, 268.063, 268.064, 278.479 to 278.4965, inclusive, and subsection 4 of NRS 496.080, except as otherwise required by federal law, except as otherwise required pursuant to a cooperative agreement entered into pursuant to NRS 277.050 or 277.053 or an interlocal agreement in existence on October 1, 2004, except if the governing body is entering into a joint development agreement for real property owned by the city to which the governing body is a party, except for a lease of residential property with a term of 1 year or less, except for the sale or lease of real property to a public utility, as defined in NRS 704.020, to be used for a public purpose and except for the sale or lease of real property larger than 1 acre which is approved by the voters at a primary or general election, the governing body shall, in open meeting by a majority vote of the members and before ordering the sale or lease at auction of any real property, adopt a resolution declaring its intention to sell or lease the real property at auction. The resolution must:
(a) Describe the real property proposed to be sold or leased in such a manner as to identify it;
(b) Specify the minimum price and the terms upon which the real property will be sold or leased; and
(c) Fix a time, not less than 3 weeks thereafter, for the auction to be held:
(1) At a public meeting of the governing body at its regular place of meeting, at which sealed bids will be received and considered; or
(2) On an Internet website or other electronic medium.
(d) If the auction is to be held on an Internet website or other electronic medium, specify:
(1) The Internet website or other electronic medium;
(2) The manner in which electronic bids will be accepted; and
(3) The period during which bids will be accepted.
2. Notice of the adoption of the resolution and of the time, place and manner of holding the auction must be given by:
(a) Posting copies of the resolution in three public places in the county 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 auction, 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 in bold face type:
(1) A description of the real property proposed to be sold or leased at auction in such a manner as to identify it;
(2) The minimum price of the real property proposed to be sold or leased 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.
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 that county.
3. If the auction is held at a meeting of the governing body:
(a) At the time and place fixed in the resolution for the meeting of the governing body, all sealed bids which have been received must, in public session, be opened, examined and declared by the governing body. Of the proposals submitted which conform to all terms and conditions specified in the resolution of intention to sell or lease and which are made by responsible bidders, the bid which is the highest must be finally accepted, unless a higher oral bid is accepted or the governing body rejects all bids.
(b) Before accepting any written bid, the governing body shall call for oral bids. If, upon the call for oral bidding, any responsible person offers to buy or lease the real property upon the terms and conditions specified in the resolution, for a price exceeding by at least 5 percent the highest written bid, then the highest oral bid which is made by a responsible person must be finally accepted.
(c) The governing body may, either at the same session or at any adjourned session of the same meeting held within the next 21 days:
(1) Make a final acceptance of the highest bid; or
(2) Reject any and all bids, either written or oral, and withdraw the real property from sale if the governing body deems such action to be for the best public interest.
4. If the auction is held on an Internet website or other electronic medium:
(a) At the time and place fixed in the resolution for holding the auction, any person may submit a bid in the manner and on the Internet website or other electronic medium specified in the resolution. Bidding must remain open for the period of time specified in the resolution.
(b) The city and employees of the city are not liable for the failure of a computer, laptop or tablet computer, smartphone or any other electronic medium or device, including, without limitation, hardware, software or application, computer network or Internet website, which prevents a person from participating in an auction.
(c) The governing body shall, at the next regularly scheduled meeting of the governing body after bidding has closed:
(1) Make a final acceptance of the highest bid; or
(2) If the governing body deems the action to be for the best public interest, reject any and all bids and withdraw the real property from sale or lease.
5. Any resolution of acceptance of any bid made by the governing body must authorize and direct the chair of the governing body to execute a deed or lease and to deliver it upon performance and compliance by the purchaser or lessor with all the terms or conditions of the contract which are to be performed concurrently therewith.
6. The governing body may require any person requesting that real property be sold pursuant to the provisions of this section to deposit a sufficient amount of money to pay the costs to be incurred by the governing body in acting upon the application, including the costs of publication and the expenses of appraisal. This deposit must be refunded whenever the person making the deposit is not the successful bidder. The costs of acting upon the application, including the costs of publication and the expenses of appraisal and any related costs, must be borne by the successful bidder.
7. If real property is sold or leased in violation of the provisions of this section:
(a) The sale or lease is void; and
(b) Any change to an ordinance or law governing the zoning or use of the real property is void if the change takes place within 5 years after the date of the void sale or lease.
(Added to NRS by 2005, 1465; A 2005, 2679, 2680; 2007, 568, 2011, 2835; 2011, 482; 2019, 1040)