539.315 - Apportionment of assessment in accordance with benefits; ascertainment of benefits. - Nevada Statutes

539.315  Apportionment of assessment in accordance with benefits; ascertainment of benefits.

      1.  The assessment required in any year to meet the payment due to the United States under the contract may be in accord with an apportionment of benefits made in or in pursuance of such contract.

      2.  In the ascertainment of such benefits there shall be taken into account:

      (a) The provisions of the contract between the United States and the district, the federal laws applicable thereto, and the notice and regulations issued in pursuance of those laws.

      (b) In addition, in case such contract is for the assumption by the district as principal or guarantor of indebtedness to the United States theretofore existing on account of district lands, the provisions of existing contracts carrying such indebtedness and the amounts of such liens as may be released in pursuance of the contract between the United States and the district.

      [61:64:1919; 1919 RL p. 3291; NCL § 8079]