LegalFix
Sign In

NRS 277.0745 - Issuance and repayment of revenue securities.

NV Rev Stat § 277.0745 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

The issuer on behalf of the borrowing local government may issue revenue securities in order to finance a facility. The revenue securities and the interest must be repaid solely from:

1. The proceeds of the revenue securities and interest earned;

2. Revenues of any facility financed with the revenue securities;

3. Repayments of loans to borrowing local governments made with the proceeds of the revenue securities;

4. Rentals or payments for installment purchases made with respect to facilities financed with revenue securities; and

5. The proceeds of the sale of any facility financed with the proceeds of the revenue securities or any part of it.

Repayment may be additionally secured by a mortgage, security interest or other encumbrance on a facility financed with the revenue securities.

(Added to NRS by 1987, 1620)

Previous Section
NRS 277.074 - Local governments may enter into cooperative agreements for borrowing money to finance facility; contents of agreement.
Next Section
NRS 277.075 - Prerequisites to borrowing from issuer or becoming obligated for facility.