Nev. Rev. Stat. § 360.830 — Acquisition or expansion of certain public utilities: Requirements for interlocal agreements for compensation of affected local governments

NRS  360.830    Acquisition or expansion of certain public utilities:
Requirements for interlocal agreements for compensation of affected local
governments.
1.  Except as otherwise provided in this
section, if on or after July 1, 2003, a local government:
(a) Acquires from another entity a public utility
that provides water service or sewer service; or
(b) Expands facilities for the provision of water
service, sewer service, electric service, natural gas service,
telecommunication service or community antenna television, cable television or
other video service, and the expansion results in the local government serving
additional retail customers who were, before the expansion, retail customers of
a public utility which provided that service,
Ê the local
government shall enter into an interlocal agreement with each affected local
government to compensate the affected local government each fiscal year, as
nearly as practicable, for the amount of any money from state and local taxes
and franchise fees and from payments in lieu of those taxes and franchise fees,
and for any compensation from a local government pursuant to this section, the
affected local government would be entitled to receive but will not receive
because of the acquisition of that public utility or expansion of those
facilities as provided in this section.
2.  An affected local government may waive
any or all of the compensation to which it may be entitled pursuant to subsection
1.
3.  The provisions of this section do not
require a:
(a) Local government to provide any compensation
to an affected local government to the extent that the provision of that
compensation would cause a deficiency in the money available to the local
government to make required payments of principal of, premium, if any, or
interest on any bonds or other securities issued to finance the acquisition of
that public utility or expansion of those facilities, or to make required
payments to any funds established under the proceedings under which those bonds
or other securities were issued.
(b) County to duplicate any compensation an
affected local government receives from any payments in lieu of taxes required
pursuant to NRS 244A.755 .