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NRS 396.850 - Details of securities provided by resolution.

NV Rev Stat § 396.850 (2019) (N/A)
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Except as herein otherwise provided and as otherwise provided in any other act the provisions of which are relevant by express reference herein thereto, any securities issued hereunder must be:

1. In such form;

2. Issued in such manner, at, above or below par at such a discount not exceeding 9 percent of the principal amount of the securities, at public or private sale, and at a price which will result in an effective interest rate which does not exceed by more than 3 percent the Index of Revenue Bonds which was most recently published before the bids are received or a negotiated offer is accepted; and

3. Issued with such recitals, terms, covenants, conditions and other provisions,

as may be provided by the Board in a resolution authorizing their issuance and in any indenture or other proceedings appertaining thereto.

(Added to NRS by 1967, 10; A 1969, 1298; 1971, 2120; 1975, 873; 1981, 1416; 1983, 584)

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NRS 396.8495 - Resolution authorizing issuance of securities may fix rate of interest; Board of Regents authorized to enter into agreement for assurance of payment in connection with securities; exemption from limitation on rates of interest.
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NRS 396.851 - Recital in securities conclusive evidence of validity and regularity of issuance.