309.390 - Board may sell or lease improvements; ratification by electors. - Nevada Statutes

309.390  Board may sell or lease improvements; ratification by electors.

      1.  Subject to the provisions of subsection 2, the board of directors may sell, lease, contract to sell, or otherwise dispose of the improvements constructed pursuant to the provisions of this chapter.

      2.  Such a sale, lease or contract of sale, or other transaction relating to the disposition or change of control of the property is not effective until ratified and approved at a special election, district election or primary state election by two-thirds of the votes cast at the election.

      [35:24:1928; NCL § 3489]—(NRS A 1993, 1061)