Title 30

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…

NRS 350.204 Merger of sinking and other debt service funds into single fund. Such ordinance shall provide that upon the first day of the ensuing fiscal year, all sinking funds or other debt service funds however denominated which have been established by statute or pursuant to co…

NRS 350.206 Sufficiency of levy of taxes. Each levy of taxes made after the enactment of such an ordinance shall include an amount for debt service sufficient to meet all general obligation interest requirements of the fiscal year for which the levy is made and to retire all bond…

NRS 350.208 Obligation of bond not impaired. The provisions of NRS 350.202, 350.204 and 350.206 do not in any way impair the obligation of any bond issued prior to April 3, 1965, or postpone the due date of any installment of interest or payment of principal. (Added to NRS by 196…

NRS 350.350 Short title. NRS 350.350 to 350.490, inclusive, may be cited as the Water and Sewer Revenue Bond Law. [1:109:1937; A 1949, 205; 1943 NCL § 1397.01]

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…