NRS 349.825
Issuance of revenue bonds: Director required to submit findings to Advisory Committee on Financing Exports and State Board of Finance

  • approval of State Board of Finance
  • limitation on amount of bonds.

1.

Subject to the limitations imposed by subsection 2, the Director may, if he or she finds it feasible, issue revenue bonds to the extent necessary to provide sufficient money for guaranteed funding, pay the interest on the bonds until the proceeds are so used, procure insurance, create reserves to cover guarantees he or she is obligated to honor, and pay all other expenses incurred in providing guaranteed funding and administering the program.

2.

Before any bonds may be issued pursuant to this section, except those issued for the purpose of refunding outstanding bonds, the Director shall submit to the Advisory Committee on Financing Exports, if created, his or her findings that:

(a)

All of the conditions prerequisite to providing guaranteed funding, as set forth in NRS 349.760 and 349.765, are met;

(b)

A satisfactory plan of repayment or an assurance of repayment by a third party is available so as to make any bonds issued pursuant to this section marketable; and

(c)

The anticipated revenues from the program are sufficient to repay the bonds issued pursuant to this section.

3.

The Advisory Committee on Financing Exports, if created, shall recommend approval, with or without conditions, or disapproval of the findings of the Director made pursuant to subsection 2. The Director shall submit to the State Board of Finance a copy of his or her findings and the recommendations of the Advisory Committee on Financing Exports, if any. If the Board approves, the Director may proceed to issue the bonds in the amount approved, but the aggregate principal amount of the outstanding bonds issued must not exceed $50,000,000, exclusive of any bonds or obligations which have been refunded.

Source: Section 349.825 — Issuance of revenue bonds: Director required to submit findings to Advisory Committee on Financing Exports and State Board of Finance; approval of State Board of Finance; limitation on amount of bonds., https://www.­leg.­state.­nv.­us/NRS/NRS-349.­html#NRS349Sec825.

349.700
Legislative declaration. 349.710
Definitions. 349.715
“Bonds” defined. 349.720
“Director” defined. 349.725
“Exporter” defined. 349.730
“Guaranteed funding” defined. 349.735
“Loss” defined. 349.740
“Participating financial institution” defined. 349.745
“Program” defined. 349.750
Director: Administration of provisions 349.755
Director: Delegation of duties. 349.760
Transactions eligible for guaranteed funding: Criteria. 349.765
Guaranteed funding provided to participating financial institution: Limitation on amount 349.770
Investigation of credit available to exporter prerequisite for guaranteed funding. 349.775
Confidentiality of information concerning exporter. 349.780
Fees charged to participating financial institution. 349.785
Agreements excusing payment on guaranteed funding and loan to exporter 349.790
Director subrogated to rights of exporter and participating financial institution upon default by exporter. 349.795
Guarantee: Not general obligation of State 349.800
Advisory Committee on Financing Exports: Creation 349.805
Advisory Committee on Financing Exports: Meetings 349.810
Advisory Committee on Financing Exports: Powers and duties. 349.815
Regulations for operation of program. 349.820
Limitation on personal liability of Director or person acting on his or her behalf. 349.825
Issuance of revenue bonds: Director required to submit findings to Advisory Committee on Financing Exports and State Board of Finance 349.830
Bonds: Special obligations of State. 349.835
Bonds: Form and terms 349.840
Bonds: Repurchase. 349.845
Bonds: Refunding. 349.850
Bonds: Legal investments. 349.855
Director: Establishment of funds and accounts 349.857
Director: Loans of securities. 349.860
Insurance.
Last Updated

Feb. 5, 2021

§ 349.825’s source at nv​.us