Title 30

NRS 350.360 Definitions. Wherever used in NRS 350.350 to 350.490, inclusive, unless a different meaning clearly appears from the context: 1. “Governing body” means the board of county commissioners, city council, city commission, board of supervisors, town council, town board, bo…

NRS 350.370 Additional powers of municipality under NRS 350.350 to 350.490, inclusive. In addition to the powers which it may now have, any municipality shall, subject to the limitation stated in this section, have power under NRS 350.350 to 350.490, inclusive: 1. To acquire by g…

NRS 350.373 Supplemental powers of municipality to prescribe, revise and collect charges; expenses of collection. In supplementation of the provisions of subsection 3 of NRS 350.370 and elsewhere in the Water and Sewer Revenue Bond Law, any municipality at any time and under any …

NRS 350.375 Use of revenues derived from undertaking of municipality. Subject to any pledges and other contractual limitations appertaining to revenues derived from the operation of any undertaking of a municipality, such revenues may be used from time to time for the following p…

NRS 350.380 Undertaking and issuance of bonds: Procedure. The acquisition, construction, reconstruction, improvement, betterment or extension of any undertaking and the issuance, in anticipation of the collection of the revenues of such undertaking, of bonds to provide funds to p…

NRS 350.400 Sale of bonds. The bonds shall be sold as provided in the Local Government Securities Law. [Part 5:109:1937; A 1949, 205; 1943 NCL § 1397.05]—(NRS A 1967, 221; 1969, 1592; 1975, 864)

NRS 350.490 Powers conferred in NRS 350.350 to 350.490, inclusive, additional and supplemental; controlling provisions. 1. The powers conferred by NRS 350.350 to 350.490, inclusive, shall be in addition and supplemental to, and not in substitution for, and the limitations imposed…

NRS 350.495 Willful violation of covenant in securities by member of governing body, officer or agent of municipality unlawful; penalty. 1. Any member of the governing body and any officer or other agent of a municipality which has issued any bonds or municipal securities who wil…

NRS 350.500 Short title. NRS 350.500 to 350.720, inclusive, may be cited as the Local Government Securities Law. (Added to NRS by 1967, 421; A 1985, 2089, 2179; 1993, 1984)

NRS 350.502 Purpose; supplemental nature. It is the purpose of the Local Government Securities Law to provide a procedure for financing any projects otherwise authorized by law (other than by the levy and collection of special assessments) and for the issuance of securities to ev…

NRS 350.504 Definitions. As used in this chapter and in any instrument or document appertaining thereto, unless the context otherwise requires, the words and terms defined in NRS 350.506 to 350.566, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by…

NRS 350.506 “Acquisition” and “acquire” defined. “Acquisition” or “acquire” includes the opening, laying out, establishment, purchase, construction, securing, installation, reconstruction, lease, gift, grant from the Federal Government, this state, any public body therein, or any…

NRS 350.508 “Chair” and “chair of the municipality” defined. “Chair” or “chair of the municipality” or any phrase of similar import means the de facto or de jure chair of the board of county commissioners, mayor of the city or town, president of the board of trustees of the schoo…

NRS 350.510 “Clerk” defined. “Clerk” means the de facto or de jure county clerk, city clerk, town clerk, clerk of the board of trustees of the school district, secretary or clerk of the board of directors of any other type district, or other officer of the municipality who is the…

NRS 350.512 “Commercial bank” defined. “Commercial bank” means: 1. A state or national bank or trust company that is a member of the Federal Deposit Insurance Corporation, including, without limitation, a branch of the Federal Reserve Bank. 2. A credit union whose deposits are in…

NRS 350.514 “Condemnation” and “condemn” defined. “Condemnation” or “condemn” means the acquisition by the exercise of the power of eminent domain of property for any project, or an interest therein, herein designated. (Added to NRS by 1967, 422; A 1985, 278)

NRS 350.516 “Cost of any project” defined. “Cost of any project,” or any phrase of similar import, means all or any part designated by the governing body of the cost of any project, or interest therein, which cost, at the option of the governing body, may include all or any part …

NRS 350.517 “Disposal” and “dispose” defined. “Disposal” or “dispose” means the sale, destruction, razing, loan, lease, grant, transfer, assignment, option to sell, other contract, or other disposition, or any combination thereof, of facilities, other property, or any interest th…

NRS 350.5175 “Equip” and “equipment” defined. “Equip” or “equipment” means the furnishing of all related or appurtenant machinery, furnishings, apparatus, paraphernalia, or other gear, or any combination thereof, pertaining to any project or other property, or any interest therei…

NRS 350.518 “Facilities” defined. “Facilities” means buildings, structures, utilities, or other income-producing facilities from the operation of which or in connection with which pledged revenues for the payment of any bonds or other securities issued hereunder are derived, incl…

NRS 350.520 “Federal Government” defined. “Federal Government” means the United States, or any agency, instrumentality or corporation thereof. (Added to NRS by 1967, 423)

NRS 350.522 “Federal securities” defined. “Federal securities” means bills, certificates of indebtedness, notes, bonds or similar securities which are direct obligations of, or the principal and interest of which securities are unconditionally guaranteed by, the United States. (A…

NRS 350.524 “Governing body” defined. “Governing body” means the board of county commissioners, city council, city commission, board of supervisors, town council, board of trustees of the school district, board of directors or trustees of any other type district, or other local l…

NRS 350.526 “Gross revenues” and “gross pledged revenues” defined. “Gross revenues” or “gross pledged revenues” means all pledged revenues received by the municipality and pledged wholly or in part for the payment of any municipal securities issued hereunder. (Added to NRS by 196…

NRS 350.528 “Hereby,” “herein,” “hereinabove,” “hereinafter,” “hereinbefore,” “hereof,” “hereto,” “hereunder,” “heretofore” and “hereafter” defined. “Hereby,” “herein,” “hereinabove,” “hereinafter,” “hereinbefore,” “hereof,” “hereto,” “hereunder” and any similar term refer to the…

NRS 350.530 “Holder” defined. “Holder,” or any similar term, when used in conjunction with any coupons, any bonds or any other securities, means the person in possession and the apparent owner of the designated item if such obligation is registered for payment to bearer or is not…

NRS 350.532 “Improvement” and “improve” defined. “Improvement” or “improve” includes the extension, widening, lengthening, betterment, alteration, reconstruction or other major improvement, or any combination thereof, of any properties pertaining to a project or an interest there…

NRS 350.534 “Municipal” defined. “Municipal” means pertaining to a municipality as defined in NRS 350.538. (Added to NRS by 1967, 424)

NRS 350.536 “Municipal securities” and “securities” defined. “Municipal securities” or merely “securities” means notes, warrants, bonds, temporary bonds and interim debentures authorized to be issued by any municipality hereunder. (Added to NRS by 1967, 424)

NRS 350.538 “Municipality” defined. 1. “Municipality” means any county, any incorporated city or town, including, without limitation, any city or town organized under the provisions of a special legislative act or other special charter, any unincorporated town, any school distric…

NRS 350.540 “Net revenues” and “net pledged revenues” defined. “Net revenues” or “net pledged revenues” means “gross revenues,” after the deduction of operation and maintenance expenses. (Added to NRS by 1967, 424)

NRS 350.542 “Operation and maintenance expenses” defined. 1. “Operation and maintenance expenses,” or any phrase of similar import, means all reasonable and necessary current expenses of the municipality, paid or accrued, of operating, maintaining and repairing the facilities or …

NRS 350.546 “Ordinance” defined. “Ordinance” means a county ordinance, city ordinance, town ordinance, school district or other type district resolution, or other type of instrument by the adoption of which the municipality exercises legislative powers. (Added to NRS by 1967, 425…

NRS 350.550 “Pledged revenues” defined. “Pledged revenues” means the moneys pledged wholly or in part for the payment of bonds or other municipal securities issued in accordance with the provisions of the Local Government Securities Law, and, subject to any existing pledges or ot…

NRS 350.552 “Project” defined. “Project” means any undertaking or undertakings which the governing body is authorized by law (other than the Local Government Securities Law) to do in the name of the municipality, the cost of which the governing body is authorized by law (other th…

NRS 350.554 “Public body” defined. “Public body” means the Nevada System of Higher Education, the Board of Regents of the University of Nevada, any county, city, town, school district, other type district, authority, commission or other type of body corporate and politic constitu…

NRS 350.556 “State” defined. “State” means the State of Nevada, or any board, department or other agency or instrumentality thereof, in the United States; and where the context so indicates, “State” means the geographical area comprising the State of Nevada. (Added to NRS by 1967…

NRS 350.558 “Taxation” defined. “Taxation” means the levy and collection of taxes as defined in NRS 350.560, but in NRS 350.710 “taxation” pertains to any type of tax, including, without limitation, any business, occupation or privilege tax, any other excise tax, and any property…

NRS 350.560 “Taxes” defined. “Taxes” means general (ad valorem) property taxes. (Added to NRS by 1967, 426)

NRS 350.562 “Treasurer” defined. 1. “Treasurer” means: (a) The de facto or de jure county treasurer, city treasurer, town treasurer or treasurer of any district, or his or her successor in functions, if any. (b) The county treasurer in the case of any municipality (other than a c…

NRS 350.564 “Trust bank” defined. “Trust bank” means: 1. A commercial bank as defined in NRS 350.512 that is authorized to exercise and is exercising trust powers. 2. A branch of the Federal Reserve Bank. 3. A credit union whose deposits are insured by the National Credit Union S…

NRS 350.566 “United States” defined. “United States” means the United States of America; and where the context so indicates, “United States” means the geographical area comprising the United States of America. (Added to NRS by 1967, 426; A 1971, 2116)

NRS 350.568 Powers of municipality in connection with projects. In connection with any project, the municipality, acting by and through the governing body, except as herein otherwise provided, may: 1. Sue and be sued; 2. Acquire and hold real or personal property, or rights or in…

NRS 350.569 Power of eminent domain; reimbursement of public utility for removal and relocation. 1. The governing body may: (a) Exercise on behalf of the municipality the power of eminent domain in the manner provided in chapter 37 of NRS, except as herein otherwise provided; (b)…

NRS 350.570 Power of municipality to become obligated and issue securities for project. For the purpose of paying the cost of any project authorized by law (other than the Local Government Securities Law), at any time or from time to time the municipality may borrow money or othe…

NRS 350.572 Types of securities which may be issued; series. The municipality may issue, in one series or more, without the municipal securities being authorized at any election in the absence of an expressed provision to the contrary in the act authorizing the project and the is…