NRS 279.622
Issuance and sale of general obligation bonds: Purposes

  • amount authorized.

1.

The community may also issue and sell its general obligation bonds for the purpose of providing funds with which to redeem before maturity, retire at maturity, or purchase agency bonds issued under NRS 279.634 to 279.672, inclusive. General obligation bonds issued pursuant to this section may be authorized and issued in a principal amount sufficient to provide funds for the payment of any or all of the following:

(a)

The principal amount of agency bonds proposed to be so redeemed, retired or purchased.

(b)

The estimated amount of any premiums required to be paid in connection with the redemption or purchase of such agency bonds.

(c)

The estimated amount of any due and unpaid interest or accrued interest on such agency bonds which must be paid at the time the same are redeemed, retired or purchased.

(d)

The estimated amount of all expenses incidental to or connected with the redemption, retirement or purchase of such agency bonds and the authorization, issuance and sale of such general obligation bonds.

2.

All agency bonds redeemed, retired or purchased with the proceeds of such general obligation bonds shall be cancelled and may not be reissued.

Source: Section 279.622 — Issuance and sale of general obligation bonds: Purposes; amount authorized., https://www.­leg.­state.­nv.­us/NRS/NRS-279.­html#NRS279Sec622.

279.610
Appropriations. 279.612
Annual budget. 279.614
Agency’s administrative fund. 279.616
Money appropriated to defray administrative expenses 279.618
Agency’s reports to legislative body. 279.619
Limitation on issuing securities or incurring indebtedness. 279.620
Revolving fund: Establishment 279.622
Issuance and sale of general obligation bonds: Purposes 279.625
Special election may be held only if emergency exists. 279.626
Issuance of general obligation bonds: Manner 279.628
Expenditures from revolving fund. 279.630
Sale or lease of property acquired from revolving fund: Minimum amount 279.632
Abolition of revolving fund 279.634
Bonds: Issuance for corporate or refunding purposes. 279.636
Types of bonds which agency may issue 279.638
Liability on bonds 279.640
Authorization of bonds 279.642
Validity of bonds: Termination of office. 279.644
Negotiability of bonds. 279.646
Validity of bonds: Presumptions. 279.648
Issuance of bonds: Pledge of revenues 279.650
Issuance of bonds: Limitations on further indebtedness and transactions. 279.652
Issuance of bonds: Use of proceeds 279.654
Issuance of bonds: Rentals and revenues 279.656
Issuance of bonds: Abrogation or amendment of contracts with bondholders. 279.658
Issuance of bonds: Use and maintenance of property 279.660
Issuance of bonds: Effects of breach of covenants 279.662
Power of agency to provide for powers and duties of bondholders’ trustee or bondholders. 279.664
Power of agency to make additional covenants 279.666
Rights of agency’s obligee. 279.668
Rights of agency’s obligee upon default. 279.670
Bonds, interest and income exempted from taxes 279.672
Bonds of agency as legal investments. 279.674
“Taxes” defined. 279.676
Allocation, division and disposition of money from taxes 279.678
Assessment and taxation of leased redeveloped property 279.680
Pledging portion of taxes for payment of principal and interest on loans, advances or indebtedness. 279.683
Faith of State pledged not to impair securities. 279.685
Certain cities to set aside revenue for affordable housing and public educational activities, programs and facilities 279.687
Limitations on use of money set aside for public educational activities, programs and facilities. 279.6855
Certain cities to set aside revenue for public educational activities, programs and facilities
Last Updated

Feb. 5, 2021

§ 279.622’s source at nv​.us