NRS 539.610
Redemption of bonds before maturity: Procedure.

1.

Whenever after 10 years from the issuance of bonds the bond fund shall amount to the sum of $10,000, the board of directors may direct the treasurer to pay such an amount of the bonds not due as the money in the bond fund will redeem at the lowest value at which they may be offered for liquidation, after advertising for at least 3 weeks in some newspaper published in the county in which the office of the district is located, and in such other newspaper as the board may deem advisable, for sealed proposals for the redemption of such bonds.

2.

Such proposals shall be opened by the board in open meeting at a time to be named in the notice, and the lowest bid or bids shall be accepted; but no bonds shall be redeemed at a rate above par except in cases where the bonds are issued subject to call at a rate above par as provided in NRS 539.615 to 539.635, inclusive.

3.

In case two or more bids are equal, the lowest-numbered bond shall have the preference, and if any of the bonds are not so redeemed, that amount of the redemption money shall be invested by the treasurer under the direction of the board in United States bonds or the bonds or warrants of the State or municipal or school bonds, and such bonds and the proceeds therefrom shall belong to the bond fund.
Refunding Bonds

Source: Section 539.610 — Redemption of bonds before maturity: Procedure., https://www.­leg.­state.­nv.­us/NRS/NRS-539.­html#NRS539Sec610.

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

§ 539.610’s source at nv​.us