1. The governing bodies of two or more municipalities whose boundaries are contiguous may enter into an interlocal or cooperative agreement for the ordering of an undertaking whose boundaries encompass all or part of each municipality and the creation of the tax increment area and the tax increment account pertaining thereto. A tax increment area created pursuant to this section must be administered as provided in the interlocal or cooperative agreement, notwithstanding any provision of this chapter to the contrary.
2. If the governing bodies of two or more municipalities enter into an interlocal or cooperative agreement pursuant to subsection 1, the governing bodies may, in accordance with the procedures set forth in the interlocal or cooperative agreement:
(a) Jointly take any action required to be taken by a governing body for the creation of a district by the governing body pursuant to NRS 278C.160, 278C.170, 278C.180, 278C.210, 278C.220, 278C.230, 278C.270 and 278C.280, except that each governing body must adopt an ordinance pursuant to NRS 278C.220 in order to create the tax increment area;
(b) Enter into contracts for the undertaking; and
(c) Issue bonds or otherwise finance the cost of the undertaking.
(Added to NRS by 2017, 1529)
Structure Nevada Revised Statutes
Chapter 278C - Tax Increment Areas
NRS 278C.015 - "Bond requirements" defined.
NRS 278C.020 - "Clerk" defined.
NRS 278C.030 - "Cost of the undertaking" defined.
NRS 278C.040 - "County" defined.
NRS 278C.050 - "Engineer" defined.
NRS 278C.060 - "Governing body" defined.
NRS 278C.070 - "Municipality" defined.
NRS 278C.075 - "Natural resources project" defined.
NRS 278C.080 - "Newspaper" defined.
NRS 278C.090 - "Posting" defined.
NRS 278C.100 - "Publication" and "publish" defined.
NRS 278C.105 - "Rail project" defined.
NRS 278C.110 - "Specially benefited zone" defined.
NRS 278C.120 - "Tax increment account" defined.
NRS 278C.130 - "Tax increment area" defined.
NRS 278C.140 - "Undertaking" defined.
NRS 278C.160 - Provisional order: Procedure.
NRS 278C.190 - Verification of posting of notice.
NRS 278C.200 - Publication of notice; verification of publication.
NRS 278C.210 - Actions at hearing; resolutions; complaint, protest or objection of proceedings.
NRS 278C.220 - Procedure after hearing; modification of plans; adoption of ordinance creating area.
NRS 278C.240 - Applicability to undertaking of provisions governing payment of prevailing wage.
NRS 278C.260 - Limitation upon revenue from taxes ad valorem not applicable.
NRS 278C.270 - Appeal from adverse order.
NRS 278C.280 - Securities: Issuance; types; terms; debt limitations; net pledged revenues.
NRS 278C.290 - Maturation and payment of securities.