1. Subject to the limitation imposed by subsections 4 and 5, the Division may issue its negotiable notes and bonds in such principal amount as the Administrator determines to be necessary to provide sufficient money for achieving any of its statutory purposes, including the payment of interest on notes and bonds of the Division, establishment […]
1. The notes and bonds must be signed by the Administrator, who may use a facsimile signature for this purpose, must bear the date or dates and must mature at such a time or times as the Administrator determines. The bonds may be issued as serial bonds payable in annual installments or as term bonds […]
The Division in issuing any notes or bonds may contract with the holders thereof as to: 1. Pledging all or any part of the revenues of the Division to secure the payment of the notes or bonds subject to such agreements with noteholders or bondholders as may then exist. 2. Pledging all or any part […]
In the discretion of the Administrator, bonds issued by the Division may be secured by a trust indenture or trust indentures by and between the Division and a corporate trustee, which may be any trust company or bank having the power of a trust company within or outside this state. Such trust indenture may contain […]
The Division may procure or agree to the procurement of insurance or guarantees from any governmental agency or from any private insurance company, of the payment of any bonds or notes or any other evidences of indebtedness thereof issued by the Division or by any lending institution, and may pay premiums on such insurance. (Added […]
1. The Division, subject to such agreements with noteholders or bondholders as may then exist, may, out of any money available therefor, purchase its notes or bonds to retire and cancel them. The price must not exceed: (a) The redemption price then applicable plus accrued interest to the next interest payment thereon if the notes […]
1. The Division may, in addition to the notes and bonds authorized by NRS 319.270, issue from time to time its collateralized mortgage obligations or other negotiable notes, bonds or obligations which may be secured by collateral consisting of, otherwise secured in whole or in part by, or which may evidence loans or participations or […]
The Division may: 1. Provide that any bonds or notes issued by the Division be insured or be secured by surety bonds, letters of credit not issued by the Division, guaranties or other means of assuring repayment of such bonds or notes. 2. Require that any loans, including a mortgage loan, made or purchased by […]
The Division may: 1. Waive, by such means as the Division deems appropriate, any exemption from federal income taxation of interest on the Division’s bonds, notes or other obligations provided by 26 U.S.C. §§ 103 and 141 to 149, inclusive, and related portions of the Internal Revenue Code or any succeeding code or other federal […]
1. The Division may issue refunding obligations to refund any obligations then outstanding which have been issued under the provisions of this chapter, including the payment of any redemption premium thereon and any interest accrued or to accrue to the date of redemption of the obligations and for any statutory purpose of the Division. The […]
1. The Division may establish one or more bond reserve funds, and shall pay into each such bond reserve fund: (a) Any money appropriated by the Legislature for the purpose of the fund; (b) Any proceeds of sale of notes or bonds to the extent provided in connection with the issuance thereof; and (c) Any […]
The Division shall not at any time issue bonds, secured in whole or in part by a bond reserve fund, if upon the issuance of those bonds, the amount in that bond reserve fund will be less than the bond reserve fund requirement for that fund, unless the Division at the time of issuance of […]
The provision of bond reserve fund requirements is designed to assure the continued operation and solvency of the Division for the carrying out of its statutory purposes. The Administrator shall, on or before the date of convening of any regular session of the Nevada Legislature, make and deliver to the Governor, the President of the […]
1. If the Division defaults in the payment of principal of or interest on any bonds or notes issued under this chapter after it is due, whether at maturity or upon call for redemption, and such default continues for a period of 30 days, or if the Division fails or refuses to comply with the […]
1. The State of Nevada hereby pledges to and agrees with the holders of any notes or bonds issued under this chapter that the State will not limit or alter the rights vested in the Division by this chapter to fulfill the terms of any agreements made with such holders or in any way impair […]
1. The notes and bonds of the Division are legal investments in which all public officers and public bodies of the State, its political subdivisions, all municipalities and municipal subdivisions, all insurance companies and associations and other persons carrying on an insurance business, all banks, savings and loan associations, savings banks and trust companies, all […]
