NRS 349.907 - “Expense of operation and maintenance” defined.

NV Rev Stat § 349.907 (2019) (N/A)

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“Expense of operation and maintenance” means any reasonable and necessary current expense of the State for the operation, maintenance or administration of the financing or of the collection and administration of revenues from the financing, and includes, but is not limited to:

1. Expenses for engineering, auditing, reporting or legal services and any other expense incurred by the Director which are directly related to the administration of the financing;

2. Premiums for fidelity bonds and policies of property and liability insurance pertaining to the financing;

3. Premiums for blanket bonds and policies, or any portion thereof, which may be reasonably allocated to the State;

4. Payments to pension, retirement and health insurance and other insurance funds;

5. Reasonable charges by any paying agent, commercial bank, credit union, trust company or other depository bank pertaining to any bonds;

6. Salaries or fees paid pursuant to any contract for professional services;

7. Cost of materials, supplies and labor pertaining to the issuance of any bonds, including the expenses of any trustee, receiver or other fiduciary; and

8. Costs incurred in the collection and any refund of revenues pursuant to the financing.

(Added to NRS by 1987, 1405; A 1999, 1471)

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