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DIVERSIFIED CAPITAL CORP. v. CITY OF N. LAS VEGAS

No. 8181.

555 P.2d 1236 (1976)

DIVERSIFIED CAPITAL CORPORATION, a Delaware Corporation, Appellant, v. CITY OF NORTH LAS VEGAS, a Municipal Corporation, and Title Insurance and Trust Company of California, a California Corporation, Respondents, Bank of Nevada, a Nevada Banking Corporation, Joined Respondent.

Supreme Court of Nevada.

November 10, 1976.

Attorney(s) appearing for the Case

Lionel, Sawyer, Collins & Wartman, and Paul R. Hejmanowski, Las Vegas, for appellant.

Paul H. Schofield, City Atty., North Las Vegas, for City of North Las Vegas.

Smith & O'Brien, Las Vegas, for Bank of Nevada.

OPINION

ZENOFF, Justice:

Prior to 1970, the City of North Las Vegas expended approximately $2,100,000.00 for general improvements to a tract of land within its boundaries known as Nellis Industrial Park Unit No. 1. Proceeds from the sale of bonds by the City were utilized to implement the improvements and an improvement district, comprised solely of the land within the park, was created against which assessments were levied to secure payment of the bonds...

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