NRS 319.290
Notes and bonds: Pledges as security.


The Division in issuing any notes or bonds may contract with the holders thereof as to:

1.

Pledging all or any part of the revenues of the Division to secure the payment of the notes or bonds subject to such agreements with noteholders or bondholders as may then exist.

2.

Pledging all or any part of the assets of the Division, including mortgages and obligations securing such assets, to secure the payment of the notes or bonds subject to such agreements with noteholders or bondholders as may then exist.

3.

The use and disposition of the gross income from mortgages owned by the Division and the payment of principal of mortgages owned by the Division.

4.

The setting aside of reserves or sinking funds and the regulation and disposition thereof.

5.

Limitations on the purpose to which the proceeds of sale of notes or bonds may be applied and pledging such proceeds to secure the payment of the notes or bonds or of any issue thereof.

6.

Limitations on the issuance of additional notes or bonds, the terms upon which additional notes or bonds may be issued and secured, and the refunding of outstanding or other notes or bonds.

7.

The procedure, if any, by which the terms of any contract with noteholders or bondholders may be amended or abrogated, the amount of notes or bonds the holders of which must consent thereto, and the manner in which such consent may be given.

8.

Limitations on the amount of moneys to be expended by the Division for operating expenses of the Division.

9.

Vesting in a trustee or trustees such property, rights, powers and duties in trust as the Administrator may determine, which may include any or all of the rights, powers and duties of the trustee appointed by the bondholders pursuant to this chapter and limiting or abrogating the right of the bondholders to appoint a trustee under this act or limiting the rights, powers and duties of such trustee.

10.

Defining the acts or omissions which shall constitute a default in the obligations and duties of the Division to the holders of the notes or bonds and providing for the rights and remedies of the holders of the notes or bonds in case of such default, including as a matter of right the appointment of a receiver, but such rights and remedies shall not be inconsistent with the general laws of this state and the other provisions of this chapter.

11.

Any other matters, of like or different character, which in any way affect the security or protection of the holders of the notes or bonds.
Ê Any pledge made by the Division is valid and binding from the time when the pledge is made. The revenues, moneys or property so pledged and thereafter received by the Division are immediately subject to the lien of such pledge without any physical delivery thereof or further act, and the lien of any such pledge is valid and binding as against all persons having claims of any kind in tort, contract or otherwise against the Division, whether or not such persons have notice thereof. Neither the proceedings of the Division relating to the bonds or notes nor any other instrument by which a pledge is created need be recorded.

Source: Section 319.290 — Notes and bonds: Pledges as security., https://www.­leg.­state.­nv.­us/NRS/NRS-319.­html#NRS319Sec290.

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

Feb. 5, 2021

§ 319.290’s source at nv​.us