NRS 315.993
Projects not to be constructed or operated for profit

  • fixing of rentals or payments.

1.

The Authority shall not construct or operate any housing project for profit.

2.

The Authority shall manage and operate its housing projects in an efficient manner so as to enable it to fix the rentals or payments for dwelling accommodations at low rates consistent with its providing decent, safe and sanitary dwelling accommodations for persons of low and moderate income.

3.

The Authority shall fix the rentals or payments for dwellings in its housing projects at no higher rates than are necessary to produce revenue which, together with all other available money, revenue, income and receipts of the Authority from whatever sources derived, will be sufficient:

(a)

To pay, as it becomes due, the principal and interest on the bonds of the Authority.

(b)

To create and maintain such reserves as may be required to assure the payment of principal and interest as it becomes due on its bonds.

(c)

To meet the cost of, and to provide for, maintaining and operating the housing projects, including necessary reserves therefor and the cost of any insurance, and the administrative expenses of the Authority.

(d)

To make such payments in lieu of taxes as it determines are consistent with the maintenance of the low-rent character of the housing projects.

4.

For the purposes of this section, a housing project constructed or operated by the Authority that is eligible for credit for low-income housing pursuant to 26 U.S.C. § 42 is not constructed or operated for profit.

Source: Section 315.993 — Projects not to be constructed or operated for profit; fixing of rentals or payments., https://www.­leg.­state.­nv.­us/NRS/NRS-315.­html#NRS315Sec993.

315.007
Availability of judicial review 315.011
Legislative findings and declarations. 315.021
Definitions. 315.031
Conditions upon which tenant required to vacate public housing. 315.041
Notice of termination of tenancy 315.051
Service of notices: Manner and proof. 315.061
Action for damages not precluded 315.071
Return of evicted tenant to public housing. 315.140
Short title. 315.150
Definitions. 315.160
“Area of operation” defined. 315.170
“Authority” defined. 315.180
“Bonds” defined. 315.190
“City” defined. 315.200
“Clerk” defined. 315.210
“Federal Government” defined. 315.220
“Governing body” defined. 315.225
“Housing Authorities Law of 1943” defined. 315.226
“Housing Law of 1951” defined. 315.230
“Housing project” defined. 315.240
“Mayor” defined. 315.250
“Obligee of the authority” and “obligee” defined. 315.260
“Persons of low income” defined. 315.270
“Real property” defined. 315.275
“Regional authority” defined. 315.280
“State public body” defined. 315.290
“Town” defined. 315.300
“Veteran” and “serviceman or servicewoman” defined. 315.310
Exemption of real property from execution, process and judgment lien: Enforcement of certain encumbrances, pledges and liens. 315.320
Housing authority: Nature 315.330
Factual findings required. 315.340
Determination of unsafe or insanitary conditions: Considerations. 315.350
Actions involving authority’s contracts 315.360
Continuation of housing authorities organized under prior laws. 315.365
Effect of chapter 16, Statutes of Nevada 1975. 315.370
Appointment of commissioners: Number 315.380
Officers of authority. 315.390
Compensation and expenses of commissioner. 315.400
Conflicts of interest. 315.410
Removal of commissioners. 315.420
Nature and functions 315.430
General powers. 315.435
Area of another authority. 315.440
Powers concerning housing projects. 315.450
Contracts for services or works: Compliance with wage and hour laws 315.460
Powers relating to real and personal property. 315.470
Authorized investments 315.490
Acquisition, operation or disposition of property by public bodies: Law applicable. 315.500
Rentals. 315.510
Tenant selection: Preferences. 315.530
Cooperation between authorities. 315.540
Payments in lieu of taxes. 315.550
Powers of state public bodies respecting housing projects. 315.560
Federal aid. 315.570
Housing in rural areas. 315.580
Housing for veterans and servicemen or servicewomen. 315.590
Lease of government war housing projects by authority. 315.600
Bonds for corporate and refunding purposes. 315.610
Types of bonds 315.620
Liability on bonds 315.630
Resolution authorizing bonds: Contents. 315.640
Sale. 315.650
Discontinuance in office: Negotiability. 315.660
Validity 315.670
Authorized provisions: Bonds 315.680
Pledges and mortgages. 315.690
Limitation of further indebtedness 315.700
Rental income 315.710
Procedure relating to bondholders’ contracts. 315.720
Use, maintenance and insurance of property. 315.725
Program to jointly self-insure and purchase insurance or reinsurance. 315.730
Obligees’ powers and duties. 315.740
Exercise of enumerated powers. 315.750
Submission to and certification of bonds by Attorney General. 315.760
Housing authority bonds: Authorized investments. 315.770
Remedies of authority’s obligee. 315.780
Additional remedies conferrable by authority on obligee. 315.961
Policy of State 315.962
Definitions. 315.963
“Area of operation” defined. 315.964
“Authority” and “State Authority” defined. 315.965
“Bonds” defined. 315.966
“City” defined. 315.967
“Executive Director” defined. 315.968
“Federal Government” defined. 315.969
“Housing project” defined. 315.971
“Local housing authority” and “local authority” defined. 315.972
“Obligee” defined. 315.973
“Persons of low and moderate income” defined. 315.976
“Town” defined. 315.977
Creation of Authority 315.978
Certificate of appointment or reappointment of commissioner: Filing. 315.979
Organization of Authority: Officers 315.980
Compensation of commissioners. 315.981
Conflicts of interest. 315.982
Removal of commissioners 315.983
Nature and functions 315.984
Powers of Authority concerning housing projects and low-rent housing 315.988
Powers of State Authority under Housing Authorities Law of 1947. 315.989
State projects subject to local ordinances. 315.990
Payments in lieu of taxes. 315.991
Acquisition, operation or disposition of property by public agencies: Law applicable. 315.992
Exemption of property from execution, process and judgment lien 315.993
Projects not to be constructed or operated for profit 315.994
Tenant selection. 315.996
Powers of state public bodies respecting housing projects. 315.7805
Formation. 315.7807
Dissolution of individual authorities. 315.7809
Appointment of commissioners 315.7811
Additional powers. 315.7813
Reservation or nomination of land from Bureau of Land Management prohibited 315.9835
Area of operation. 315.9845
Determination of income. 315.9981
Definitions. 315.9982
“Mortgage loan” defined. 315.9983
Mortgages and loans: Generally. 315.9984
Findings necessary for financing. 315.9985
Notes, bonds and other obligations: Guarantees of payment. 315.9986
Notes, bonds and other obligations: Establishment, use and requirements for bond reserve funds. 315.9987
Notes, bonds and other obligations: Submission to and certification by Attorney General. 315.99815
“Lending institution” defined. 315.99818
“Mortgage” defined. 315.99825
“Real property” defined. 315.99828
“Residential housing” defined. 315.99832
Mortgages and loans: Security 315.99834
Mortgages and loans: Related powers. 315.99836
Mortgages and loans: Fees and charges. 315.99838
Mortgages and loans: Insurance. 315.99842
Notes, bonds and other obligations: Issuance 315.99844
Notes, bonds and other obligations: Type 315.99846
Notes, bonds and other obligations: Pledges. 315.99848
Notes, bonds and other obligations: Trust indentures. 315.99852
Notes, bonds and other obligations: Redemption 315.99854
Notes, bonds and other obligations: Provision for or requirement of means of assuring repayment 315.99856
Notes, bonds and other obligations: Waiver of exemption of interest from federal income taxation 315.99858
Notes, bonds and other obligations: Refunding obligations. 315.99862
Notes, bonds and other obligations: Limitations on bond reserve funds. 315.99864
Notes, bonds and other obligations: Purpose of bond reserve fund requirements. 315.99866
Notes, bonds and other obligations: Remedies of bondholders and noteholders. 315.99868
Notes, bonds and other obligations: Pledge against impairment of holders’ rights and remedies 315.99872
Notes, bonds and other obligations: Legal investments 315.99874
Notes, bonds and other obligations: Signatures of commissioners and officers.
Last Updated

Feb. 5, 2021

§ 315.993’s source at nv​.us