NRS 349.926 – 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 investment authorized by NRS 349.900 to 349.929, inclusive, more than 30 days after the effective date of the order of the Director authorizing the issuance of these bonds. (Added […]
NRS 349.927 – Faith of State pledged against repeal, amendment or modification of NRS 349.900 to 349.929, inclusive.
The faith of the State is hereby pledged that NRS 349.900 to 349.929, inclusive, will not be repealed, amended or modified to impair any outstanding bonds or any revenues pledged to their payment or to limit or alter the rights of powers vested in the Director to fulfill the terms of any agreement made with […]
NRS 349.928 – Sufficiency of NRS 349.900 to 349.929, inclusive; construction.
1. NRS 349.900 to 349.929, inclusive, without reference to other statutes of the State, constitute full authority for the exercise of powers granted in those sections, including but not limited to the authorization and issuance of bonds. 2. No other act or law with regard to the authorization or issuance of bonds that provides for […]
NRS 349.929 – Account for Venture Capital to be entrusted to management company; proceeds of bonds may be entrusted to another management company.
The Account for Venture Capital is to be entrusted to a management company with the qualifications specified in those sections. Subject to the limitation on the maximum of the aggregate principal amount of outstanding bonds that may be issued, proceeds from bonds issued at a subsequent time may be entrusted to another management company with […]
NRS 349.920 – Issuance of bonds: Findings of Director and Board.
Before issuing bonds, the Director and the Board shall find that: 1. The financing will provide a public benefit. 2. There are sufficient safeguards to ensure that all money provided pursuant to NRS 349.900 to 349.929, inclusive, will be expended solely for the purposes stated in NRS 349.900 to 349.929, inclusive. 3. There are existing […]
NRS 349.921 – Bonds: Safety as to repayment of principal and interest; Fund for the Retirement of Bonds; investment of money in Fund.
1. The bonds issued pursuant to NRS 349.900 to 349.929, inclusive, must be structured to provide a significant degree of safety as to repayment of principal and interest upon their maturity. 2. A portion of the proceeds of the bonds must be placed in a Fund for the Retirement of Bonds. The money in this […]
NRS 349.922 – Bonds: Special obligations of State.
1. All bonds issued by the Director pursuant to NRS 349.900 to 349.929, inclusive, are special, limited obligations of the State. 2. The bonds and interest coupons, if any, which are a part of those bonds do not constitute the debt or indebtedness of the State or any city or county within the meaning of […]
NRS 349.923 – Bonds: Form and terms; sale.
1. The bonds must be authorized by an order of the Director, and must: (a) Be in the denominations; (b) Bear the date or dates; (c) Mature at the time or times, not exceeding 40 years after their respective dates; (d) Be in the form; (e) Be executed in the manner; (f) Carry the registration […]
NRS 349.924 – Bonds: Regulations for investment and reinvestment of proceeds and management of proceeds by banks or trust companies.
The Director shall adopt regulations for: 1. Investment and reinvestment of the proceeds designated for the Account for Venture Capital from the sale of bonds, including, but not limited to: (a) Bonds or other obligations of the United States. (b) Bonds or other obligations, the payment of the principal and interest of which is unconditionally […]
NRS 349.925 – Bonds: Refunding.
1. Any bonds issued under the provisions of NRS 349.900 to 349.929, 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 […]