NRS 349.950 – Issuance of state securities or revenue bonds: Limitation on amount; payment; legislative declaration.
1. The Director may, to pay the cost of any water project, borrow money or otherwise become obligated, and may provide evidence of those obligations by issuing, except as otherwise provided in this subsection, state securities or revenue bonds. If the obligor is not a governmental entity, the Director shall issue only revenue bonds to […]
NRS 349.951 – Director may charge fee against obligor; use of proceeds.
1. The Director may charge the obligor a fee not to exceed 2 percent of the principal amount of the financing, including a nonrefundable application fee not to exceed 0.25 percent of the principal amount or $7,500, whichever is less, payable either in advance or at the time the bonds are issued. The Director shall […]
NRS 349.952 – Account for the Financing of Water Projects: Deposits; application of revenue; investment of money from revenue bonds.
1. Except as otherwise provided in subsection 3 and NRS 349.951, all amounts received by the Director from an obligor in connection with any financing undertaken pursuant to NRS 349.935 to 349.961, inclusive, must be deposited with the State Treasurer for credit to the Account for the Financing of Water Projects which is hereby created […]
NRS 349.953 – Refunding.
1. Any bonds issued under the provisions of NRS 349.935 to 349.961, inclusive, may be refunded by the Director by the issuance of refunding bonds in an amount which the Director deems necessary to refund the principal of the bonds to be so refunded, any unpaid interest thereon and any premiums and incidental expenses necessary […]
NRS 349.954 – Limitation of actions.
No action may be brought questioning the legality of any contract, lease, agreement, indenture, mortgage, order or bonds executed, adopted or taken in connection with any water project or improvements authorized by NRS 349.935 to 349.961, inclusive, after 30 days after the effective date of the order of the director authorizing the issuance of those […]
NRS 349.940 – “Mortgage” defined.
“Mortgage” includes a deed of trust and any other security agreement covering real or personal property, or both. (Added to NRS by 1987, 2274)
NRS 349.941 – “Obligor” defined.
“Obligor” means the natural person, partnership, firm, company, public utility, corporation, association, trust, estate, political subdivision, state agency or any other legal entity, or its legal representative, who agrees to make the payments sufficient to pay the principal of, premium, if any, and interest on the state securities or revenue bonds issued pursuant to NRS […]
NRS 349.942 – “Revenue bonds” defined.
“Revenue bonds” means bonds, notes or other securities evidencing a special limited obligation of the State, the principal and interest of which are payable solely out of revenues derived from the financing, leasing or sale of the water project to be financed. (Added to NRS by 1987, 2274)
NRS 349.943 – “State securities” defined.
“State securities” means notes, warrants, interim debentures, bonds and temporary bonds issued as general obligations by the Director for any water project or for a refunding which are payable from taxes, whether or not additionally secured by a pledge of all or any designated revenues of one or more water projects. (Added to NRS by […]
NRS 349.944 – “Tax” defined.
“Tax” means a general tax upon property. (Added to NRS by 1987, 2275)