NRS 533.560: Lease of water right by public body to owner or holder of water right who exceeds entitled amount of water.

1. A public body may lease a water right owned by the public body to an owner or holder of a water right who, as determined by the State Engineer, is exceeding the amount of water to which the owner or holder is entitled.

2. As used in this section, “public body” means the State or a county, city, town, school district or any public agency of this State or its political subdivisions. The term includes, without limitation, a water district organized pursuant to a special act of the Legislature or a water authority organized as a political subdivision created by a cooperative agreement or created by a special act of the Legislature.