539.653 - Progressive construction: Certification of bonds as needed; prior approval of Department of Taxation if all bonds certified. - Nevada Statutes

539.653  Progressive construction: Certification of bonds as needed; prior approval of Department of Taxation if all bonds certified.

      1.  Whenever the survey, examinations, drawings and plans of an irrigation district, and the estimate of cost provides that the works necessary for a completed project shall be constructed progressively over a period of years in accordance with a plan or schedule adopted by resolution of the board of directors of the district, it is not necessary for the Department of Taxation to certify at one time all of the bonds that have been voted for the completed project; but such bonds may be certified from time to time as needed by the district.

      2.  If the Department certifies all of the bonds necessary for the completed project, even if the project is to be constructed progressively over a period of years in accordance with the resolution of the board of directors, the bonds so voted and certified shall only be sold after prior written approval of the Department.

      [6:34:1921; NCL § 8222]—(NRS A 1977, 1242)