NRS 279.480
Investments.

An agency may:

1.

Invest any money held in reserves or sinking funds, or any money not required for immediate disbursement, in:

(a)

Obligations issued by the United States Postal Service or the Federal National Mortgage Association, whether or not the payment of principal and interest thereon is guaranteed by the Federal Government.

(b)

Bonds or other obligations issued by a redevelopment agency created pursuant to this chapter or a legislative body that has elected to exercise the powers granted to an agency pursuant to the provisions of this chapter.

(c)

Bonds or other securities issued pursuant to the provisions of NRS 349.150 to 349.364, inclusive, 350.500 to 350.720, inclusive, or 396.809 to 396.885, inclusive.

(d)

Money market mutual funds that:

(1)

Are registered with the Securities and Exchange Commission;

(2)

Are rated by a nationally recognized rating service as “AAA” or its equivalent; and

(3)

Invest only in securities issued or guaranteed as to payment of principal and interest by the Federal Government, or its agencies or instrumentalities, or in repurchase agreements that are fully collateralized by such securities.

(e)

Any other investment in which a city may invest pursuant to NRS 355.170.

2.

Purchase its bonds at a price not more than their principal amount and accrued interest. All bonds so purchased must be cancelled.

Source: Section 279.480 — Investments., https://www.­leg.­state.­nv.­us/NRS/NRS-279.­html#NRS279Sec480.

279.426
Agency for redevelopment: Creation. 279.428
Resolution of legislative body as prerequisite to functioning of agency. 279.430
Authority of agency conclusively presumed from resolution. 279.432
Powers of public bodies in aid of local redevelopment. 279.434
Exemption of agency and property from execution, process or lien 279.436
Suspension of agency’s authority. 279.438
Termination of redevelopment plan adopted before January 1, 1991, and amendments to plan 279.439
Termination of redevelopment plan adopted on or after January 1, 1991, and amendments to plan. 279.440
Appointment of members 279.442
Restriction on appointment of members. 279.443
Alternative method of appointment of members 279.444
Action of legislative body as alternative to appointment of members 279.446
Terms of office of members 279.448
Chair: Designation 279.450
Compensation and expenses of members. 279.452
Removal of member: Grounds 279.454
Interest in property included in redevelopment area forbidden 279.456
Acquisition of property by agency from member or officer by eminent domain. 279.458
Agency’s power vested in members. 279.460
Agency’s governmental functions 279.462
Powers of agency. 279.464
Services and facilities available to agency. 279.466
Personnel: Selection 279.468
Preparation of plans for blighted areas 279.470
Acquisition, management, disposal and encumbrance of interests in real and personal property 279.471
Requirements for agency to exercise power of eminent domain 279.472
Leases or sales: Public hearing. 279.474
Development of building sites. 279.476
Rehousing bureau. 279.478
Assistance for relocation. 279.480
Investments. 279.482
Imposition of conditions on lessees and purchasers 279.484
Breach of covenants running with the land. 279.486
Purchase and construction of certain buildings, facilities and improvements 279.488
Continuation of existing buildings on land 279.490
Financial assistance from governmental and private sources. 279.492
Eminent domain: Existing public use 279.494
Territorial jurisdiction: Counties 279.496
Property owned in redevelopment project: Payment of money in lieu of taxes. 279.498
Work exceeding $10,000 requires competitive bidding. 279.500
Applicability of provisions governing payment of prevailing wage for public works projects. 279.508
Joint exercise of powers by two or more agencies: Authority 279.510
Joint exercise of powers by two or more agencies: Designated agency to obtain report and recommendation of planning commissions concerning conformity of redevelopment plan to community’s master or general plan. 279.512
Joint exercise of powers by two or more agencies: Designated agency’s cooperation with planning commissions in formulating redevelopment plans. 279.514
Redevelopment of area within another community’s territory. 279.4712
Prerequisites to agency exercising power of eminent domain 279.4714
Prerequisite to request that agency exercise power of eminent domain.
Last Updated

Jun. 24, 2021

§ 279.480’s source at nv​.us