NRS 319.260
Prerequisites to financing residential housing.


The Division shall not finance any residential housing unless, prior to such financing, the Administrator finds that:

1.

There exists a shortage of decent, safe and sanitary housing at rentals or prices which eligible families can afford within the general housing market area as determined by the Administrator.

2.

Private enterprise and investment have been unable, without assistance, to provide an adequate supply of decent, safe and sanitary housing in such housing market area at rentals or prices which persons or families of low and moderate income can afford or to provide sufficient mortgage financing for residential housing for occupancy by such persons or families.

3.

The proposed residential housing will increase the supply or improve the quality of decent, safe and sanitary housing for eligible families.

4.

The residential housing to be developed or assisted by the Division pursuant to the provisions of this chapter will be of public use and will provide a public benefit.

5.

The Division’s estimates of its revenues from the financing of the residential housing, together with all subsidies, grants or other financial assistance from governmental agencies or other entities to be received in connection with the residential housing, will be sufficient to pay the amount estimated by the Division as necessary for debt service on its notes and bonds to be issued for the financing of the residential housing.

Source: Section 319.260 — Prerequisites to financing residential housing., https://www.­leg.­state.­nv.­us/NRS/NRS-319.­html#NRS319Sec260.

319.020
Legislative findings and declaration
319.030
Definitions.
319.040
“Administrator” defined.
319.042
“Affordable housing” defined.
319.045
“Collateralized mortgage obligation” defined.
319.050
“Division” defined.
319.060
“Eligible family” defined.
319.070
“Governmental agency” defined.
319.090
“Lending institution” defined.
319.100
“Mortgage” defined.
319.110
“Mortgage loan” defined.
319.115
“Person with a disability” defined.
319.120
“Real property” defined.
319.130
“Residential housing” defined.
319.135
“Sponsor” defined.
319.140
General powers and duties of Division
319.141
Housing Advocate: Creation of position
319.143
Division required to create and maintain statewide low-income housing database
319.145
Designation as housing credit agency
319.147
Certification of assisted living facilities: Requirements
319.167
Division may enter into instruments, agreements and other transactions for certain purposes.
319.169
Account for Housing Inspection and Compliance: Creation
319.170
Funds and accounts
319.171
Investment in collateralized mortgage obligations or trusts.
319.172
Authority to make loans of investment securities.
319.173
Advisory Committee on Housing: Creation
319.174
Advisory Committee on Housing: Creation
319.190
Authority to make loans and issue letters of credit.
319.200
Terms and conditions of mortgage loan.
319.210
Investment in mortgages.
319.220
Mortgages in default: Foreclosure
319.230
Loans to or purchase of securities from lending institutions
319.235
Financing rental sites for mobile homes and equipment for conservation of energy in residential dwelling units.
319.240
Lending fees and charges.
319.250
Insurance.
319.260
Prerequisites to financing residential housing.
319.265
Requirements for regulations adopted by Division that establish program for financing certain residential housing projects.
319.267
Duty of certain owners of residential housing to submit quarterly report to Aging and Disability Services Division of Department of Health and Human Services.
319.270
Notes and bonds: Issuance
319.290
Notes and bonds: Pledges as security.
319.300
Bonds: Trust indentures as security.
319.310
Notes and bonds: Guarantees of payment.
319.320
Notes and bonds: Redemption
319.323
Issuance of collateralized mortgage obligations
319.325
Division may provide that bonds, notes or loans be insured or secured
319.327
Exemption of interest on Division’s bonds from federal income taxation: Waiver
319.330
Refunding obligations: Issuance, sale and exchange.
319.340
Bond reserve funds: Establishment
319.350
Bond reserve funds: Limitations.
319.360
Bond reserve funds: Purpose
319.370
Remedies of bondholders and noteholders.
319.380
Pledge against impairment of holders’ rights and remedies
319.390
Notes and bonds as legal investments.
319.500
Creation
319.510
Use and distribution of money in Account.
319.520
Regulations concerning distribution and use of money in Account
319.530
Pets must be allowed in housing acquired, constructed or rehabilitated with money from Account
319.900
False statements
Last Updated

Jun. 24, 2021

§ 319.260’s source at nv​.us