NRS 408.55072 – Executive Director: Appointed by Governor; duties; powers; compensation.
1. The Governor shall, to the extent that money is available from public or private sources for administrative costs, appoint an Executive Director of the Bank. The Executive Director is in the unclassified service of the State and serves at the pleasure of the Governor. 2. The Executive Director shall administer, manage and conduct the […]
NRS 408.55073 – Nevada State Infrastructure Bank Fund: Creation; administration by Board of Directors; establishment of accounts; acceptable deposits; compliance with federal laws; requirements for investment of earnings; authorized uses for money in Fund.
1. The Nevada State Infrastructure Bank Fund is hereby created as an enterprise fund. The Fund is a continuing fund without reversion. 2. The Fund is administered by the Board of Directors. 3. The Board of Directors may establish accounts and subaccounts within the Fund and shall ensure that accounting for the Fund is performed […]
NRS 408.55074 – Loans: Application required; Executive Director to review applications; required terms of loans; Bank to determine form and content of applications, financing agreements and loan obligations; federal requirements.
1. A qualified borrower that wishes to obtain a loan or other financial assistance from the Bank to develop, construct, repair, improve, operate, maintain, decommission or own an eligible project must apply to the Bank in the manner prescribed by the Bank. 2. The Executive Director shall: (a) Review each application and determine whether the […]
NRS 408.55075 – Qualified borrower: Required entry into financing agreement to obtain loan or other financial assistance; authorized uses of loan proceeds.
1. A qualified borrower that wishes to obtain a loan or other financial assistance from the Bank must enter into a financing agreement with the Bank and may be required to issue a loan obligation to the Bank. Except as otherwise provided by specific statute, a qualified borrower entering into a financing agreement with the […]
NRS 408.55066 – “Transportation facility” defined.
“Transportation facility” means any existing, enhanced, upgraded or new facility that is used or useful for the safe transport of people, information or goods via one or more modes of transport, including, without limitation, any of the following: 1. A road, railroad, bridge, tunnel, overpass, airport, mass transit, light or commuter rail, conduit, ferry, boat, […]
NRS 408.55067 – “Utility” defined.
“Utility” has the meaning ascribed to it in NRS 408.407. (Added to NRS by 2017, 4128; A 2021, 3816)
NRS 408.55068 – “Utility infrastructure” defined.
“Utility infrastructure” means any infrastructure of a utility that is installed in any city or county that improves or expands the system of the utility. (Added to NRS by 2017, 4128; A 2021, 3812, 3816)
NRS 408.55059 – “Loan obligation” defined.
“Loan obligation” means a bond, note or other evidence of a qualified borrower’s obligation to repay a loan given by the Bank. (Added to NRS by 2017, 4126; A 2021, 3816)
NRS 408.55061 – “Other financial assistance” defined.
“Other financial assistance” means any use of money by the Bank for the benefit of a qualified borrower, including, without limitation, a grant, contribution, credit enhancement, capital or debt reserve for bonds or other debt instrument financing, an interest rate subsidy, letter of credit or other credit instrument, security for a bond or other debt […]
NRS 408.550615 – “Other infrastructure related to economic development” defined.
“Other infrastructure related to economic development” means infrastructure that: 1. Supports a public purpose while promoting economic development for a local, regional or state purpose; and 2. Is not a transportation facility, utility infrastructure, water and wastewater infrastructure, renewable energy infrastructure, recycling and sustainability infrastructure, digital infrastructure or social infrastructure. (Added to NRS by 2021, […]