The Legislature finds that: 1. It is in the public interest to foster and promote the protection and preservation of the property and natural resources of the State of Nevada, and to obtain the benefits thereof, and that the State should encourage and assist municipalities in undertaking local projects for such purposes by making loans […]
As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 350A.025 to 350A.125, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 1981, 767; A 1993, 2318; 2005, 184; 2009, 2742)
“Allocable local revenues” means amounts received by the State which are payable to a municipality and which are designated as allocable by the municipality in the instrument authorizing the revenue security with respect to a particular lending project. (Added to NRS by 1993, 2316; A 1995, 389)
“Board” means the State Board of Finance. (Added to NRS by 1981, 767; A 1997, 3012)
“Cost of a lending project” means all or any designated part of the cost of any lending project, including any incidental cost pertaining to such a project. The cost of a lending project may include, without limitation, the costs of: 1. Surveys, audits, preliminary plans, other plans, specifications, estimates and other costs of preparations. 2. […]
“Expense of operation and maintenance” means any reasonable and necessary current expense of the State for the operation, maintenance or administration of a lending project or of the collection and administration of revenues therefrom. The term includes, without limitation: 1. Expenses for engineering, auditing, reporting, legal services and other expenses of the State Treasurer which […]
“Flood management authority” means any entity that is created by cooperative agreement pursuant to chapter 277 of NRS, the functions of which include the acquisition, construction, improvement, operation and maintenance of a flood management project. (Added to NRS by 2009, 2742)
“Lending project” means any undertaking which the State is authorized to complete in connection with loans to municipalities made by the purchase of: 1. Municipal securities validly issued for a purpose related to natural resources; or 2. Revenue securities validly issued for a purpose related to any undertaking which a municipality is authorized to complete. […]
“Municipal securities” means notes, warrants, interim debentures, bonds and temporary bonds validly issued as obligations for a purpose related to natural resources which are payable: 1. From taxes whether or not additionally secured by any municipal revenues available therefor; 2. For bonds issued by an irrigation district, from assessments against real property; 3. For bonds […]
“Municipality” means any county, city, town, wastewater authority, flood management authority, water authority organized as a political subdivision created by cooperative agreement, school district, general improvement district or other district, including an irrigation district. (Added to NRS by 1981, 768; A 1997, 165; 2005, 184; 2009, 2743)
“Purpose related to natural resources” means a purpose necessary, expedient or advisable for the protection and preservation of any property or natural resources of the State, or for obtaining the benefits thereof, including without limitation water projects, sewer projects, projects to protect and preserve the natural resources and property of the State from floods and […]
“Revenue securities” means notes, warrants, interim debentures, bonds and temporary bonds validly issued by a municipality as obligations for a purpose related to any undertaking which the municipality is authorized to complete and which are payable from: 1. The revenues of one or more such undertakings; 2. Taxes levied by or on behalf of the […]
“Revenues of a lending project” means any money, except the proceeds of taxes levied by the State, received by the State Treasurer from or in respect to any lending project, including without limitation: 1. Money derived from any source of revenue connected with a lending project, including without limitation payments by a municipality of the […]
“State securities” means notes, warrants, interim debentures, bonds and temporary bonds issued as: 1. General obligations by the State pursuant to this chapter for any lending project which is for a purpose related to natural resources or for a refunding which are payable from taxes, whether or not additionally secured by a pledge of all […]
“Tax” means: 1. A general (ad valorem) property tax. 2. Any tax or portion thereof to which is attributable the proceeds that are paid into the tax increment account of a tax increment area created by a municipality pursuant to NRS 278C.220. (Added to NRS by 1981, 768; A 2015, 3209)
“Wastewater authority” means an entity that is created by cooperative agreement pursuant to chapter 277 of NRS, the functions of which include sanitation and sewerage, the treatment and disposal of wastewater, or the development and reclamation of water resources. (Added to NRS by 2005, 184)
In order to: 1. Protect and preserve the property and natural resources of the State, and to obtain the benefits thereof; and 2. Assist municipalities in the acquisition, construction and equipping of public improvements, the State Treasurer may make loans to municipalities by purchasing their municipal securities validly issued for a purpose related to natural […]
1. The State Treasurer is the Administrator of the Municipal Bond Bank. 2. In his or her capacity as Administrator, the State Treasurer may: (a) Sue and be sued to establish or enforce any right arising out of a lending project or of any state securities issued pursuant to this chapter; (b) Acquire and hold […]
1. The Board may, at the request of the State Treasurer, to pay the cost of any lending project, borrow money or otherwise become obligated, and may provide evidence of those obligations by issuing state securities. 2. State securities issued to acquire municipal securities may be outstanding pursuant to this chapter in an aggregate principal […]
1. Before state securities may be issued pursuant to this chapter for the purpose of acquiring bonds which are issued by a water authority organized as a political subdivision created by cooperative agreement that operates in all or a portion of a county whose population is 700,000 or more: (a) The water authority must obtain […]
