Title 30

NRS 349.303 Delegation of power of Commission to sign contracts or accept binding bids for purchase of bonds; establishment of certain requirements and approval of certain terms by Commission for purchase of bonds. 1. The Commission may, before any sale of bonds, delegate to the …

NRS 349.304 Investment and reinvestment of revenues and proceeds of taxes and securities in federal securities or certain money market mutual funds. 1. The Commission, subject to any contractual limitations from time to time imposed upon the State by any act or resolution authori…

NRS 349.306 Covenants and other provisions in state securities. Any resolution providing for the issuance of any bonds or other state securities hereunder payable from pledged revenues and any indenture or other instrument or proceedings appertaining thereto may at the discretion…

NRS 349.308 Pledged revenues received or credited subject to immediate lien; priority and validity of lien. 1. Revenues pledged for the payment of any securities, as received by or otherwise credited to the State, shall immediately be subject to the lien of each such pledge witho…

NRS 349.310 Rights and powers of holders of state securities and trustees. Subject to any contractual limitations binding upon the holders of any issue or series of state securities, or trustee therefor, including but not limited to the restriction of the exercise of any remedy t…

NRS 349.312 Receivers: Appointment; powers and duties. 1. If a resolution of the Commission authorizing or providing for the issuance of any securities of any series or any other proceedings appertaining thereto contains a provision authorized by subsection 19 of NRS 349.306 and …

NRS 349.314 Rights and remedies cumulative. No right or remedy conferred upon any holder of any securities or any coupon appertaining thereto or any trustee for such holder hereby or by any proceedings appertaining to the issuance of such securities or coupon is exclusive of any …

NRS 349.316 Failure of holder to proceed does not relieve State, Commission and officers, agents and employees of State of liability for nonperformance of duties. The failure of any holder of any state securities or any coupons appertaining thereto so to proceed as herein provide…

NRS 349.318 Interim debentures: Issuance for general or special obligations; form; additional security. 1. Notwithstanding any limitation or other provision herein, whenever the State is authorized to issue general obligation bonds, regardless of whether majorities of the qualifi…

NRS 349.320 Issuance of state securities constituting debt to fund or refund special obligations not constituting indebtedness: Conditions; restrictions. 1. Except as otherwise provided in subsections 2 to 5, inclusive, this section does not authorize the State to issue any state…

NRS 349.322 Interim debentures: Maturity; uses of proceeds; issuance. 1. Any interim debentures may mature at such time or times not exceeding a period of time equal to the estimated time needed to effect the purpose or purposes for which they are issued or for which the bonds ar…

NRS 349.324 Interim debentures: Security for payment. 1. Except as otherwise provided in NRS 349.320, the proceeds of taxes, pledged revenues and other money, including without limitation proceeds of bonds to be issued or reissued after the issuance of interim debentures, and bon…

NRS 349.326 Interim debentures: Extension and funding. No interim debentures issued pursuant to the provisions of NRS 349.318 to 349.324, inclusive, shall be extended or funded except by the issuance or reissuance of a bond or bonds authorized by the Commission authorizing the is…

NRS 349.328 Interim debentures: Funding by reissuance of bonds pledged as collateral security; issuance of other bonds. 1. For the purpose of funding any interim debentures, any bonds pledged as collateral security to secure the payment of such interim debentures, upon their surr…

NRS 349.330 Refunding of general and special obligation bonds: Resolution; trust indenture. Subject to the provisions of NRS 349.320, any general obligation bonds or special obligation bonds of the State issued in accordance with the provisions of the State Securities Law or any …

NRS 349.332 Calls for prior redemption: Limitations. Nothing contained in the State Securities Law or in any other law of this state shall be construed to permit the Commission to call on behalf of the State bonds or other securities outstanding now or any time after April 5, 196…

NRS 349.334 Exchange of outstanding securities held by State or its agencies for funding or refunding. Notwithstanding the provisions of NRS 349.332 or of any other law, this state, acting by and through the State Board of Finance, may agree with the Commission to exchange any ou…

NRS 349.336 Refunding of outstanding securities evidencing long-term loans. Any provision herein concerning the refunding of outstanding bonds includes any outstanding securities evidencing long-term loans to the State regardless of whether such securities are designated as bonds…

NRS 349.338 Refunding bonds: Exchange for outstanding bonds or federal securities; public or private sale. 1. Any bonds issued for refunding purposes may either be delivered in exchange for the outstanding bonds being refunded or may be publicly or privately sold. 2. The refundin…

NRS 349.340 Conditions for refunding bonds. 1. No bonds may be refunded hereunder unless the holders thereof voluntarily surrender them for exchange or payment, or unless they either mature or are callable for prior redemption under their terms within 25 years from the date of is…

NRS 349.342 Refunding bonds: Disposition of proceeds; accrued interest and premium; costs; escrow; trusts. 1. Except as herein otherwise provided, the proceeds of refunding bonds shall either be immediately applied to the retirement of the bonds to be refunded or be placed in esc…

NRS 349.344 Proceeds of refunding bonds in escrow or trust: Investment; security; sufficient amount; purchaser not responsible for application of proceeds. 1. Any such escrow or trust shall not necessarily be limited to proceeds of refunding bonds but may include other moneys ava…

NRS 349.346 Refunding bonds payable from taxes or pledged revenues. Refunding bonds may be made payable from any taxes or pledged revenues, or both taxes and such revenues, which might be legally pledged for the payment of the bonds being refunded at the time of the refunding or …

NRS 349.348 Issuance of bonds separately or in combination. Bonds for refunding and bonds for any other purpose or purposes authorized hereby or by any other law may be issued separately or issued in combination in one series or more by the State in accordance with the provisions…

NRS 349.350 Other statutory provisions applicable to refunding bonds. Except as in NRS 349.330 to 349.348, inclusive, expressly provided or necessarily implied, the relevant provisions elsewhere herein appertaining generally to the issuance of bonds to defray the cost of any proj…

NRS 349.352 Conclusive determination of Commission that statutory limitations have been met. The determination of the Commission that the limitations in the State Securities Law imposed upon the issuance of bonds or upon the issuance of other securities hereunder, including witho…

NRS 349.354 Bonds and other securities exempt from taxation; exceptions. 1. Except as otherwise provided in subsection 2, bonds and other securities issued pursuant to the provisions of the State Securities Law, their transfer and the income therefrom must forever be and remain f…

NRS 349.356 Securities issued as general obligations are legal investments for state money. It is legal for the State Board of Finance to invest any permanent state funds or other state funds available for investment in any of the bonds or other securities authorized to be issued…

NRS 349.358 Legal investments for other persons. 1. It is legal for any bank, trust company, banker, savings bank or institution, savings and loan association, investment company and any other person carrying on a banking or investment business, any insurance company, insurance a…

NRS 349.362 Sufficiency of State Securities Law. 1. The State Securities Law, without reference to other statutes of this state, except as herein otherwise expressly provided, shall constitute full authority for the exercise of the incidental powers herein granted concerning the …

NRS 349.364 Liberal construction. The State Securities Law being necessary to secure the public health, safety, convenience and welfare, shall be liberally construed to effect its purposes. (Added to NRS by 1967, 796) REVENUE BONDS FOR INDUSTRIAL DEVELOPMENT

NRS 349.400 Definitions. As used in NRS 349.400 to 349.670, inclusive, unless the context otherwise requires, the words and terms defined in NRS 349.405 to 349.540, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 1981, 1624; A 1985, 2175; 1997, 4…

NRS 349.405 “Biomass” defined. “Biomass” means any organic matter that is available on a renewable basis, including, without limitation: 1. Agricultural crops and agricultural wastes and residues; 2. Wood and wood wastes and residues; 3. Animal wastes; 4. Municipal wastes; and 5.…

NRS 349.410 “Board” defined. “Board” means the State Board of Finance. (Added to NRS by 1981, 1624)

NRS 349.420 “Bonds” and “revenue bonds” defined. “Bonds” or “revenue bonds” means bonds, notes or other securities evidencing an obligation and issued under NRS 349.400 to 349.670, inclusive. (Added to NRS by 1981, 1624)

NRS 349.425 “Corporation for public benefit” defined. “Corporation for public benefit” means a corporation that is: 1. Recognized as exempt pursuant to section 501(c)(3) of the Internal Revenue Code of 1986, 26 U.S.C. § 501(c)(3), future amendments to that section and the corresp…

NRS 349.430 “Cost of a project” defined. “Cost of a project” means all or a designated part of the cost of any project, including any incidental cost pertaining to the project. The cost of a project may include, among other costs, the costs of: 1. Surveys, audits, preliminary pla…

NRS 349.440 “Director” defined. “Director” means the Director of the Department of Business and Industry or any person within the Department of Business and Industry designated by the Director to perform duties in connection with a project or the issuance of bonds. (Added to NRS …

NRS 349.450 “Expense of operation and maintenance” defined. “Expense of operation and maintenance” means any reasonable and necessary current expense of the State for the operation, maintenance or administration of a project or of the collection and administration of revenues fro…

NRS 349.460 “Finance” and “financing” defined. “Finance” or “financing” includes the issue of bonds by the Director for the purpose of using substantially all of the proceeds to pay (or to reimburse the obligor or its designee) for the costs of acquiring, improving and equipping …

NRS 349.470 “Financing agreement” defined. “Financing agreement” means an agreement by which the Director agrees to issue bonds pursuant to NRS 349.400 to 349.670, inclusive, to finance one or more projects and the obligor agrees to: 1. Make payments (directly or through notes, d…

NRS 349.475 “Fuel cell” defined. “Fuel cell” means a device or contrivance that, through the chemical process of combining ions of hydrogen and oxygen, produces electricity and water. (Added to NRS by 2001, 3255)

NRS 349.480 “Health and care facility” defined. “Health and care facility” means a hospital, facility for intermediate care or facility for skilled nursing as those terms are defined in chapter 449 of NRS. (Added to NRS by 1981, 1626; A 1985, 1758)

NRS 349.485 “Historic structure” defined. “Historic structure” means a building, facility or other structure, including, without limitation, a landmark, which is eligible for listing in the State Register of Historic Places under NRS 383.085. (Added to NRS by 1985, 2174; A 2019, …

NRS 349.490 “Mortgage” defined. “Mortgage” includes a deed of trust and any other security agreement covering real or personal property or both. (Added to NRS by 1981, 1626)

NRS 349.500 “Obligor” defined. “Obligor” means the natural person, partnership, firm, company, corporation (including a public utility), association, trust, estate, political subdivision, state agency or any other legal entity, or its legal representative, agent or assigns, who a…