Issuance and repayment of revenue securities.

NRS 277.0745 Issuance and repayment of revenue securities. The issuer on behalf of the borrowing local government may issue revenue securities in order to finance a facility. The revenue securities and the interest must be repaid solely from: 1. The proceeds of the revenue securities and interest earned; 2. Revenues of any facility financed with the revenue securities; 3. Repayments of loans to borrowing local governments made with the proceeds of the revenue securities; 4. Rentals or payments for installment purchases made with respect to facilities financed with revenue securities; and 5. The proceeds of the sale of any facility financed with the proceeds of the revenue securities or any part of it. Ê Repayment may be additionally secured by a mortgage, security interest or other encumbrance on a facility financed with the revenue securities. (Added to NRS by 1987, 1620)