NRS 271.515
Bonds: Form

  • terms
  • execution
  • facsimile signature.

1.

Any assessment bonds:

(a)

Must bear such date or dates;

(b)

Must mature in such denomination or denominations at such time or times, but in no event commencing later than 3 years nor exceeding 30 years after their date;

(c)

Must bear interest payable at such intervals, but not less often than annually;

(d)

Must be payable in such medium of payment at such place or places within and without the State, including, but not limited to, the office of the county treasurer; and

(e)

At the option of the governing body, may be made subject to prior redemption in advance of maturity, in such order or by lot or otherwise, at such time or times, without or with the payment of a premium or premiums not exceeding 5 percent of the principal amount of each bond so redeemed,
Ê as provided by ordinance.

2.

Bonds may be issued with privileges for registration for payment as to principal, or both principal and interest, and the bonds may provide for the endorsing of payments of interest thereon. The bonds generally must be issued in such manner, in such form, with such recitals, terms, covenants and conditions, with such provisions for conversion into bonds of other denominations, and with such other details, as may be provided by the governing body in the ordinance or ordinances authorizing the bonds, except as herein otherwise provided.

3.

Pending preparations of the definitive bonds, interim or temporary bonds, in such form and with such provisions as the governing body may determine, may be issued.

4.

Except for payment provisions herein expressly provided, the bonds and such interim or temporary bonds must be fully negotiable within the meaning of and for all the purposes of the Uniform Commercial Code — Negotiable Instruments and the Uniform Commercial Code — Investment Securities.

5.

Notwithstanding any other provisions of law, the governing body, in any proceedings authorizing bonds hereunder, may:

(a)

Provide for the initial issuance of one or more bonds, in this subsection called “bond,” aggregating the amount of the entire issue or any portion thereof.

(b)

Make such provision for installment payments of the principal amount of any such bond as it may consider desirable.

(c)

Provide for the making of any such bond payable to bearer or otherwise, registrable as to principal, or as to both principal and interest, and for the endorsing of payments of interest on such bond.

(d)

Make provision in any such proceedings for the manner and circumstances in and under which any such bond may in the future, at the request of the holder thereof, be converted into bonds of larger or smaller denominations.

6.

Any bonds may be issued hereunder with provisions for their reissuance, and the terms and conditions thereof, whether lost, apparently destroyed, wrongfully taken, or for any other reason, as provided in the Uniform Commercial Code — Investment Securities, or otherwise.

7.

Any bond must be executed in the name of and on behalf of the municipality and signed by the mayor, chair or other presiding officer of the governing body, countersigned by the treasurer of the municipality, with the seal of the municipality affixed thereto and attested by the clerk.

8.

Any bond may be executed as provided in the Uniform Facsimile Signatures of Public Officials Act.

9.

The bonds bearing the signatures of the officers in office at the time of the signing thereof are the valid and binding obligations of the municipality, notwithstanding that before the delivery thereof and payment therefor, any or all of the persons whose signatures appear thereon have ceased to fill their respective offices.

10.

Any officer herein authorized or permitted to sign any bond, at the time of its execution and of the execution of a signature certificate, may adopt as and for the officer’s own facsimile signature the facsimile signature of his or her predecessor in office in the event that such facsimile signature appears upon the bond.

Source: Section 271.515 — Bonds: Form; terms; execution; facsimile signature., https://www.­leg.­state.­nv.­us/NRS/NRS-271.­html#NRS271Sec515.

271.265
General powers of counties, cities and towns.
271.270
Collateral powers.
271.275
Procedure for initiating acquisition or improvement of project.
271.280
Procedure for provisional order.
271.285
Procedure for petition.
271.290
Subsequent procedure after filing of petition.
271.295
Combination of projects.
271.296
Neighborhood improvement projects: Dissolution of improvement district.
271.297
Neighborhood improvement projects: Modification of plan or plat.
271.300
Effect of estimates.
271.305
Provisional order: Provision and contents of notice of hearing
271.306
Apportionment of assessments for irregularly shaped tracts
271.307
Preparation of document by engineer without prior direction of governing body.
271.308
Emergency ordinance.
271.310
Provisional order: Hearing
271.315
Appeal from adverse order: Pleading with particularity required
271.320
Procedure after hearing
271.325
Resolution of governing body
271.330
Methods of acquisition or improvement.
271.332
Neighborhood improvement projects: Governing body authorized to contract for provision of improvements with nonprofit association
271.333
Neighborhood improvement projects: Contract with nonprofit association to provide for internal controls and audits
271.335
Construction contracts.
271.337
Addition of certain improvements to existing contracts for construction work
271.340
Construction by municipality: Supplies and materials.
271.345
Cooperative construction.
271.350
Use of existing improvements.
271.355
Interim warrants.
271.357
Establishment of procedure for obtaining hardship determination.
271.360
Order for proposed assessment roll
271.365
Method of computing and limitations upon assessments.
271.366
Property of school district exempt from assessments unless consented to by board of trustees.
271.367
Apportionment of assessments for security wall.
271.369
Transportation project: Estimate of expenditures to maintain, operate, improve and repair project
271.370
Determination of assessable tracts.
271.375
Preparation of proposed assessment roll
271.377
Estimate of expenditures and proposed assessment roll for neighborhood improvement projects
271.378
Estimate of expenditures and proposed assessment roll for street beautification projects
271.379
Estimate of expenditures and proposed assessment roll for waterfront maintenance projects
271.380
Notice of hearing for assessment.
271.385
Hearing for assessment
271.390
Levy of assessments
271.392
Protest by owner or resident of property to be included within assessment plat for neighborhood improvement project
271.395
Appeal from adverse determination
271.400
Assessment for street and alley intersections.
271.405
Thirty-day period for payment
271.407
Assessments against State and political subdivisions: Ninety-day period of payment
271.409
Date when payment by mail without postmark or with illegible postmark is deemed received.
271.410
Acceleration upon delinquency.
271.415
Limitations upon deferred payments
271.420
Liens
271.425
Division or combination of tracts: Apportionment or combination of assessments authorized
271.428
Surplus and deficiency fund: Source
271.429
Refund of surplus
271.430
Payment of deficiency in assessment.
271.431
Pledge of revenues.
271.432
Covenants for securing payment of assessments.
271.433
Rights and remedies of owners of property assessed.
271.434
Inaction of owner does not relieve municipal officers and agents of liability for nonperformance.
271.435
Reassessments.
271.440
Reassessment: Credit for payment of prior assessment.
271.445
Collection of assessments
271.450
Procedure to place previously omitted property upon assessment roll.
271.455
Validity of assessment for local improvement.
271.460
Payment of assessments by joint owner: Recovery from co-owners
271.465
Assessment paid in error: Recovery.
271.470
Error in assessment: Judgment for expenses of municipality properly chargeable against owner or tract.
271.472
Financial report required of association providing improvements for neighborhood improvement projects.
271.475
Bonds: Power to issue
271.477
Issuance of bonds payable solely from proceeds of assessments.
271.480
Recital of compliance in bonds or deed conclusive evidence of facts recited.
271.485
Bonds: Sale
271.487
Determination by designated agent of rates of interest on bonds and unpaid installments of assessments.
271.488
Issuance of bonds to refund all or portion of outstanding bonds
271.489
Agreements for assurance of payments on bonds.
271.490
Fund for payment of bonds
271.495
Deficiency in bond fund or surplus and deficiency fund: Payment from general fund
271.497
Municipality to prepare final accounting of bond fund
271.500
Municipality’s liability on bonds.
271.502
Assessments and other revenues pledged for payment of securities: Lien of pledge
271.505
Incontestable recital in bonds.
271.515
Bonds: Form
271.520
Bonds: Exemption from taxation
271.525
Early hearings.
271.530
Effect of faulty notice of hearing
271.535
Legal investments in bonds.
271.536
Advances of money for certain improvements in lieu of issuance of bonds or interim securities.
271.537
Limitation on number of annual installments to repay advancement.
271.538
Medium-term obligations.
271.540
Procedure for collection and enforcement of assessments by municipal treasurer.
271.545
Delinquent assessment or installment marked delinquent on assessment roll
271.550
Notice of sale by publication and mail.
271.555
Public sale: Time, place and continuation
271.560
Sale to person offering to pay amount due
271.565
Report of sale by municipal treasurer.
271.570
Certificate of sale: Contents
271.575
Municipal clerk custodian of certificates for property sold to municipality
271.580
Entry of payments and redemptions by treasurer on assessment roll.
271.585
Property bid in by or stricken off to municipality held in trust by municipality for special assessment district
271.590
Sale of property by municipality after expiration of period of redemption
271.595
Redemption of property
271.600
Recitals, contents and execution of deed
271.605
Fees for issuance of certificate of sale and deed.
271.610
Acquisition of lien by purchaser of certificate of sale
271.615
Notice to municipal treasurer of proceeding to foreclose lien for general taxes.
271.620
Sale of unsold property after maturity of last unpaid installment of bond issue.
271.625
Action by municipality for collection and enforcement of delinquent assessment or installment.
271.630
Foreclosure actions and proceedings against municipality by holders of bonds.
271.3665
Limitation on assessments against municipal land.
271.3695
Special assessment for extraordinary maintenance, repair and improvement of project located in redevelopment area in certain counties.
271.4315
Application of revenues and credits to payment of assessments.
271.4325
Lien of pledge of revenues.
271.4335
Rights and remedies cumulative.
271.4895
Submission of annual financial information to Director of Legislative Counsel Bureau.
Last Updated

Jun. 24, 2021

§ 271.515’s source at nv​.us