NRS 539.575
Use of unsold bonds in payment of construction

  • approval of Department of Taxation.

1.

The board may use any bonds of the district which have been offered for sale at public sale and remain unsold in payment for construction of canals, storage reservoirs or other works of the district, without the necessity of calling for bids for such construction, and may enter into contracts providing for the payment of such construction in bonds, which contracts may provide for the payment of a fixed contract price or the cost of such construction plus a fixed percentage thereof, or the cost of such construction plus a fixed sum.

2.

Ninety percent of their par value and interest accrued thereon is the minimum price at which the bonds may be used in payment for such construction.

3.

Such use of bonds and any such contract must be approved by the Department of Taxation.

Source: Section 539.575 — Use of unsold bonds in payment of construction; approval of Department of Taxation., https://www.­leg.­state.­nv.­us/NRS/NRS-539.­html#NRS539Sec575.

539.540
Resolution of directors: General plan of proposed operations. 539.543
Surveys and examinations 539.545
Estimate of amount of money necessary to be raised 539.547
Notice of election: Posting 539.550
Ballots: Form. 539.553
Conduct of election 539.557
Additional bond issues: Election required. 539.560
Determination of benefits: Apportionment 539.563
Meeting to review apportionment of benefits: Notice 539.565
Confirmation proceedings in district court: Petition 539.567
Confirmation proceedings: Confirmation of apportionment 539.570
Sale of bonds authorized 539.573
Bonds not to be sold for less than 90 percent of par value and accrued interest. 539.575
Use of unsold bonds in payment of construction 539.577
Cancellation of authorized bond issue 539.580
Payment of bonds and interest from revenue derived from annual assessments. 539.583
Payment of interest from bond fund. 539.585
Payment before issuance of bonds, notes or certificates of indebtedness. 539.587
Insufficient money to complete improvement: Levy of assessment 539.590
Prior liens. 539.593
Power of directors to levy assessments to spread redemption of bonds. 539.595
Directors may execute agreement with bond purchasers guaranteeing tax levy for bond redemption 539.597
County auditor to spread minimum sinking fund tax on assessment books. 539.600
Agreement binding on subsequent boards of directors 539.603
Proceedings if county officers fail to perform duties pertaining to sinking fund tax. 539.605
Faith and credit of State pledged. 539.607
Issuance of notes authorized to meet obligations of district after levy of tax 539.610
Redemption of bonds before maturity: Procedure.
Last Updated

Feb. 5, 2021

§ 539.575’s source at nv​.us