Initiating procedure.
Reno City Charter, art. VIIA, § 7A.140
in effectSec. 7A.140 - Initiating procedure.
1. Whenever the City Council is of the opinion that the interest of the City requires any undertaking, the City Council, by resolution, shall direct the Engineer to prepare:
(a) Preliminary plans and a preliminary estimate of the cost of the undertaking, including without limitation, all estimated financing costs to be capitalized with the proceeds of the City's securities and all other estimated incidental costs relating to the undertaking;
(b) A statement of the proposed tax increment area pertaining thereto, the last finalized amount of the assessed valuation of the taxable property in such area, and the amount of taxes (including in such amount the sum of any unpaid taxes, whether or not delinquent) resulting from the last taxation of such property, based upon the records of the County Assessor and the County Treasurer; and
(c) A statement of the estimated amount of the tax proceeds to be credited annually to the Tax Increment Account during the term of the proposed securities payable therefrom.
2. The resolution shall describe the undertaking in general terms.
3. The resolution shall state:
(a) What part or portion of the expense thereof shall be paid with the proceeds of securities issued by the City in anticipation of tax proceeds to be credited to the Tax Increment Account and payable wholly or in part therefrom;
(b) How the remaining part or portion of such expense, if any, is to be financed; and
(c) The basic security and any additional security for the payment of securities of the City pertaining to the undertaking.
4. The resolution need not describe minutely each particular tract of taxable real property proposed to be included within the tax increment area, but simply designate the tax increment area or its location, so that the various tracts of taxable real property and any taxable personal property can be ascertained and determined to be within or without the proposed tax increment area.
5. The Engineer shall forthwith file with the City Clerk such preliminary plans, estimate of cost and statements.
6. Upon their filing, the City Council shall examine them, and if it finds them to be satisfactory, it shall by resolution provisionally order the undertaking.
(Added—Ch. 460, Stats. 1979 p. 863)
Source: City of Reno, Nevada, Administrative Code, City Charter and Annexation and Land Development Code (Municode Library, library.municode.com)URL: https://library.municode.com/nv/reno/codes/administrative_code?nodeId=PT1RECH_ARTVIIAFITAIN_S7A.140INPRFetched: 11/1/2026