NRS 350A.150
Limitations and conditions on issuance of certain state securities

  • applicability of State Securities Law.

1.

The Board may, at the request of the State Treasurer, to pay the cost of any lending project, borrow money or otherwise become obligated, and may provide evidence of those obligations by issuing state securities.

2.

State securities issued to acquire municipal securities may be outstanding pursuant to this chapter in an aggregate principal amount of not more than $1.8 billion.

3.

State securities issued to:

(a)

Acquire municipal securities must be payable from taxes and may be additionally secured by all or any designated revenues from one or more lending projects.

(b)

Acquire revenue securities must be payable from all or any designated revenues from one or more lending projects and from allocable local revenues payable to a municipality.
Ê Any such state securities may be issued without an election or other preliminaries. No state securities may be issued to refund any municipal securities issued before May 29, 1981.

4.

No state securities may be issued to acquire revenue securities unless:

(a)

The State Treasurer presents to the State Board of Finance findings which indicate that the revenues and taxes pledged to the payment of the revenue securities are sufficient to repay the state securities; and

(b)

The State Board of Finance approves the findings.

5.

Provisions of the State Securities Law which are not inconsistent with the provisions of this chapter apply to the issuance of state securities pursuant to this chapter.

Source: Section 350A.150 — Limitations and conditions on issuance of certain state securities; applicability of State Securities Law., https://www.­leg.­state.­nv.­us/NRS/NRS-350A.­html#NRS350ASec150.

350A.010
Legislative findings. 350A.020
Definitions. 350A.025
“Allocable local revenues” defined. 350A.030
“Board” defined. 350A.040
“Cost of a lending project” defined. 350A.050
“Expense of operation and maintenance” defined. 350A.055
“Flood management authority” defined. 350A.060
“Lending project” defined. 350A.070
“Municipal securities” defined. 350A.080
“Municipality” defined. 350A.090
“Purpose related to natural resources” defined. 350A.095
“Revenue securities” defined. 350A.100
“Revenues of a lending project” defined. 350A.110
“State securities” defined. 350A.120
“Tax” defined. 350A.125
“Wastewater authority” defined. 350A.130
Loans to municipalities by state purchase of municipal securities authorized. 350A.140
Powers of State Treasurer as Administrator of Municipal Bond Bank. 350A.150
Limitations and conditions on issuance of certain state securities 350A.152
Conditions upon issuance of state securities to acquire bonds issued by certain water authorities 350A.153
Limitations and conditions upon issuance of state securities to acquire revenue securities 350A.154
Revenue security pledged by allocable local revenues not debt of State. 350A.155
Issuance of state securities to refund state securities. 350A.160
Judicial confirmation of exemption of specific obligation from State’s debt limit required 350A.170
State securities: Interest 350A.180
Private sale of municipal or revenue securities to State 350A.190
Fund for the Municipal Bond Bank: Creation 350A.200
Powers additional 350A.210
Liberal construction.
Last Updated

Feb. 5, 2021

§ 350A.150’s source at nv​.us