Title 30

NRS 350.007 “Medium-term obligation” defined. “Medium-term obligation” means an obligation to repay borrowed money evidenced by a note or bond which is authorized to be issued pursuant to NRS 350.087 to 350.095, inclusive, and which has a term of 10 years or less. The term does n…

NRS 350.0075 “Special obligation” defined. “Special obligation” means a municipal security issued pursuant to NRS 350.582. (Added to NRS by 2001, 2304)

NRS 350.008 Term of installment-purchase agreement. For the purposes of this chapter, the term of an installment-purchase agreement must be determined as the period from the date the agreement is entered into by a local government to the date that the purchase price will be paid …

NRS 350.009 Regulations. 1. The Committee on Local Government Finance may adopt such regulations as are necessary for the administration of this chapter. 2. Any regulations adopted by the Committee on Local Government Finance must be adopted in the manner prescribed for state age…

NRS 350.011 Definitions. As used in NRS 350.011 to 350.0165, inclusive, unless the context otherwise requires: 1. “Commission” means a debt management commission created pursuant to NRS 350.0115. 2. “Special elective tax” means a tax imposed pursuant to NRS 354.59817, 354.5982, 3…

NRS 350.0115 Creation; composition; selection and terms of members; interest in securities issued by State or political subdivision prohibited; vacancies. 1. There is hereby created in each county whose population is 700,000 or more a debt management commission, to be composed of…

NRS 350.012 Meetings; officers; removal of member; quorum; compensation. 1. The commission shall meet during the month of February of each year to organize by selecting a chair and vice chair. In a county whose population is 700,000 or more, the chair must be one of the represent…

NRS 350.0125 Technical assistance provided by Department of Taxation or board of county commissioners to carry out duties of commission. 1. The commission in a county whose population is less than 52,000 may request technical assistance from the Department of Taxation to carry ou…

NRS 350.013 Municipalities to submit annually statement of current and contemplated general obligation debt and special elective taxes, statement of debt management policy, plan for capital improvement or alternate statement and certain information regarding chief financial offic…

NRS 350.0135 Proposal resulting in increase of rate of property taxes: Determination and notification of affected governmental entities by municipality; approval or objection by affected governmental entity; notification of commission of objection; resolution of conflict by commi…

NRS 350.014 Approval or notification of commission required for certain proposals. 1. Before any proposal to incur a general obligation debt or levy a special elective tax may be submitted to the electors of a municipality, before any issuance of general obligation bonds pursuant…

NRS 350.0145 Notice and submission of statement of certain proposals to commission; procedure for approval or disapproval. 1. The governing body of the municipality proposing to incur general obligation debt, to enter an installment-purchase agreement with a term of more than 10 …

NRS 350.015 Criteria for approval or disapproval of certain proposals; requests for information; use of money received from sale of general obligation debt or from special elective tax. 1. In determining whether to approve, conditionally or provisionally approve, or disapprove a …

NRS 350.0155 Commission to specify percentage of limitation on total ad valorem tax levy and establish priorities among essential and nonessential facilities and services for purposes of NRS 350.015. At the annual meeting required by subsection 2 of NRS 350.012, the commission sh…

NRS 350.016 Evaluation of proposal: Power of commission to employ consultants; costs. The commission has the power, with the consent of the municipality which proposes to incur a debt or levy a special elective tax, to contract for or employ accountants and financial consultants …

NRS 350.0165 Applicability of NRS 350.011 to 350.0165, inclusive. The provisions of NRS 350.011 to 350.0165, inclusive, do not apply to: 1. Any general obligation debt incurred or special elective tax levied before July 1, 1995; 2. Any general obligation debt or special elective …

NRS 350.020 Use of general obligation only for stated purpose; submission to electors of proposal to issue general obligations; restrictions on special elections; issuance of general obligations secured by pledge of revenues and issuance of special or medium-term obligations with…

NRS 350.0201 First additional 10-year period for issuance of certain general obligation bonds by board of trustees of school district. If the voters approved a question that was submitted by a board of trustees of a school district in accordance with subsection 4 of NRS 350.020 f…

NRS 350.0203 Second additional 10-year period for issuance of certain general obligation bonds by board of trustees of school district. If the voters approved a question that was submitted by a board of trustees of a school district in accordance with subsection 4 of NRS 350.020 …

NRS 350.0205 Committee on Local Government Finance to provide forms for submitting ballot question and examples of past ballot questions for issuance or incurrence of general obligations. 1. The Committee on Local Government Finance shall annually provide to each city clerk, coun…

NRS 350.021 Proposal may be combined on ballot with proposal to levy tax ad valorem for related purpose. A proposal to issue or incur general obligations pursuant to NRS 350.020 and a proposal to levy an additional tax ad valorem pursuant to NRS 354.5982 for a purpose related to …

NRS 350.022 Notice of election on proposal to issue general obligations: Publication. 1. Whenever a municipality by ordinance or resolution, as the governing body may determine, has ordered that a proposal to issue or incur general obligations be submitted to the voters at a spec…

NRS 350.024 Contents of ballot question, sample ballot and notice of election on proposal to issue general obligations; consolidation of election with general, primary or municipal election; publication of notice of close of registration for special election. 1. The ballot questi…

NRS 350.027 Sample ballot and notice of election on proposal to issue bonds or other securities to contain estimate of annual cost to operate, maintain and repair improvements to be constructed or acquired with proceeds of bonds or other securities. 1. In addition to any requirem…

NRS 350.030 Election on proposal to issue general obligations: Expenses; ballots; validity of proposal; applicability of general election laws. 1. If the election is not consolidated with another election, the municipality shall pay the expenses of conducting it. Any proposal to …

NRS 350.070 Approval or disapproval by electors of proposal to issue general obligations: Procedure; validity of result. 1. If a majority of the electors voting on the question is in favor of the proposal submitted, the proposal is carried, and the proper officers of the municipa…

NRS 350.087 Resolution authorizing medium-term obligation or installment-purchase agreement: Adoption; contents; notice. 1. If the public interest requires a medium-term obligation or installment-purchase agreement, the governing body of any local government, by a resolution adop…

NRS 350.089 Approval of resolution for medium-term obligation or installment-purchase agreement by Executive Director of Department of Taxation; appeal to Nevada Tax Commission. Except as otherwise provided in NRS 280.266 and 496.155: 1. Upon the adoption by a local government of…

NRS 350.091 Governing body to update plan for capital improvement under certain circumstances; issuance and terms of evidence of medium-term obligation or installment-purchase agreement; regulations; applicability of prevailing wage requirements to certain lease-purchase or insta…

NRS 350.093 Limitations on transfer of money for medium-term obligation; refund of transfer. 1. After a medium-term obligation has been authorized as provided in NRS 350.089 and if, in the judgment of the governing board of the local government, the fiscal affairs of the local go…

NRS 350.095 Levy of special tax; transfer of money remaining in fund. 1. At the first tax levy following the creation of any medium-term indebtedness, the governing board of any local government shall, if necessary, levy a tax sufficient to pay the medium-term indebtedness. The t…

NRS 350.105 Definitions. As used in NRS 350.105 to 350.195, inclusive, unless the context otherwise requires, the words and terms defined in NRS 350.115 to 350.145, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 1995, 1018)

NRS 350.115 “Bond” defined. “Bond” means any evidence of borrowing by a municipality that is issued pursuant to the provisions of this chapter or chapter 244, 244A, 268, 269, 271, 318, 318A or 387 of NRS, whether general or special obligations, including, without limitation, bond…

NRS 350.125 “Competitive bid” defined. “Competitive bid” means the procedure for the sale of bonds by a municipality to one or more purchasers determined by the municipality to have offered the best price and interest rate. (Added to NRS by 1995, 1018)

NRS 350.135 “Financial adviser” defined. “Financial adviser” means a financial consulting firm whose employees have experience in advising municipalities relating to the issuance of debt instruments, and which, except for its consulting relationship with the municipality, is not …

NRS 350.145 “Negotiated sale” defined. “Negotiated sale” means the procedure for the sale of bonds by a municipality to one or more purchasers selected pursuant to NRS 350.175 and 350.185 upon such terms as are agreed upon after the selection of the purchaser. (Added to NRS by 19…

NRS 350.155 Sale by competitive bid: Requirements; exceptions; contents of certificate required for certain bonds; filing and approval of certificate; publication of invitation for competitive bids. 1. Except as otherwise provided in subsection 2, a municipality shall sell the bo…

NRS 350.165 Delegation of authority to sign contract to purchase or accept binding bid for bonds; approval of certain terms by governing body required. 1. The governing body of a municipality may, before any sale of bonds, whether by competitive bid or negotiated sale, delegate t…

NRS 350.175 Negotiated sale: Notice of request for proposals; description of procedure for request for proposals in debt management policy; time limitation on sale of bonds after selection of underwriter. 1. If a municipality wishes to sell its bonds by a negotiated sale, it shal…

NRS 350.185 Negotiated sale: Procedure for selection of proposal for sale of bonds; certification of procedure. 1. The governing body of a municipality which sells bonds by a negotiated sale shall establish a procedure for the selection of a proposal for the sale of the bonds. Th…

NRS 350.195 Financial adviser: Prohibited acts. A financial adviser who provides any report required pursuant to NRS 350.105 to 350.195, inclusive, must not: 1. Be; 2. Control; 3. Be controlled by; or 4. Be under common control with, Ê an underwriter for the bonds if those bonds …

NRS 350.201 Definitions. As used in NRS 350.201 to 350.2013, inclusive: 1. “Par” means the principal amount of a security plus the accrued interest thereon from the date of the bonds to the date of delivery and full payment. 2. “Political subdivision” includes without limitation …

NRS 350.2011 Maximum rate of interest on securities of political subdivisions. 1. Except as otherwise provided in this section and NRS 99.067, and except where the provisions, whenever enacted, of a general or special law or of a special charter otherwise require, the rate or rat…

NRS 350.2012 Discounts. Except where the provisions, whenever enacted, of a general or special law or of a special charter otherwise require, securities issued by a political subdivision of this state may be sold at par, above par or below par at a discount of not more than 9 per…

NRS 350.2013 Issuance or sale more than 6 years after date of election prohibited; exception. Except as otherwise provided in subsection 4 of NRS 350.020, no security may be issued or sold by a political subdivision of this state after the expiration of 6 years from the date of t…

NRS 350.202 County ordinance may provide for service of bonded indebtedness for general obligations through single debt service fund; consolidated levy of taxes. Notwithstanding the provisions of any special law authorizing the issuance of bonds or any covenant contained in any b…