The Authority shall not finance any residential housing unless, before such financing, the Authority finds that:
1. There exists a shortage of decent, safe and sanitary housing at rentals or prices which eligible families can afford within the general housing market area as determined by the Authority.
2. Private enterprise and investment have been unable, without assistance, to provide an adequate supply of decent, safe and sanitary housing in such housing market area at rentals or prices which persons or families of low and moderate income can afford or to provide sufficient mortgage financing for residential housing for occupancy by such persons or families.
3. The proposed residential housing will increase the supply or improve the quality of decent, safe and sanitary housing for eligible families.
4. The residential housing to be developed or assisted by the Authority pursuant to the provisions of NRS 315.9981 to 315.99874, inclusive, will be of public use and will provide a public benefit.
5. The estimates of the Authority of its revenues from the financing of the residential housing, together with all subsidies, grants or other financial assistance from governmental agencies or other entities to be received in connection with the residential housing, will be sufficient to pay the amount estimated by the Authority as necessary for debt service on its notes and bonds to be issued for the financing of the residential housing.
(Added to NRS by 2005, 213)
Structure Nevada Revised Statutes
Chapter 315 - Housing Authorities
NRS 315.011 - Legislative findings and declarations.
NRS 315.031 - Conditions upon which tenant required to vacate public housing.
NRS 315.051 - Service of notices: Manner and proof.
NRS 315.061 - Action for damages not precluded; appeal of decision of justice of the peace.
NRS 315.071 - Return of evicted tenant to public housing.
NRS 315.160 - "Area of operation" defined.
NRS 315.170 - "Authority" defined.
NRS 315.180 - "Bonds" defined.
NRS 315.200 - "Clerk" defined.
NRS 315.210 - "Federal Government" defined.
NRS 315.220 - "Governing body" defined.
NRS 315.225 - "Housing Authorities Law of 1943" defined.
NRS 315.226 - "Housing Law of 1951" defined.
NRS 315.230 - "Housing project" defined.
NRS 315.240 - "Mayor" defined.
NRS 315.250 - "Obligee of the authority" and "obligee" defined.
NRS 315.260 - "Persons of low income" defined.
NRS 315.270 - "Real property" defined.
NRS 315.275 - "Regional authority" defined.
NRS 315.280 - "State public body" defined.
NRS 315.300 - "Veteran" and "serviceman or servicewoman" defined.
NRS 315.320 - Housing authority: Nature; resolution of necessity to function.
NRS 315.330 - Factual findings required.
NRS 315.340 - Determination of unsafe or insanitary conditions: Considerations.
NRS 315.360 - Continuation of housing authorities organized under prior laws.
NRS 315.365 - Effect of chapter 16, Statutes of Nevada 1975.
NRS 315.370 - Appointment of commissioners: Number; term; qualifications; vacancies.
NRS 315.380 - Officers of authority.
NRS 315.390 - Compensation and expenses of commissioner.
NRS 315.400 - Conflicts of interest.
NRS 315.410 - Removal of commissioners.
NRS 315.420 - Nature and functions; power to effectuate purposes.
NRS 315.435 - Area of another authority.
NRS 315.440 - Powers concerning housing projects.
NRS 315.460 - Powers relating to real and personal property.
NRS 315.470 - Authorized investments; redemption or repurchase of bonds.
NRS 315.480 - Exercise of powers granted in NRS 315.420 to 315.470, inclusive.
NRS 315.490 - Acquisition, operation or disposition of property by public bodies: Law applicable.
NRS 315.510 - Tenant selection: Preferences.
NRS 315.520 - Remedies of authority’s obligee: Effect of NRS 315.500 and 315.510.
NRS 315.530 - Cooperation between authorities.
NRS 315.540 - Payments in lieu of taxes.
NRS 315.550 - Powers of state public bodies respecting housing projects.
NRS 315.570 - Housing in rural areas.
NRS 315.580 - Housing for veterans and servicemen or servicewomen.
NRS 315.590 - Lease of government war housing projects by authority.
NRS 315.600 - Bonds for corporate and refunding purposes.
NRS 315.610 - Types of bonds; additional security.
NRS 315.620 - Liability on bonds; debt limitations.
NRS 315.630 - Resolution authorizing bonds: Contents.
NRS 315.650 - Discontinuance in office: Negotiability.
NRS 315.660 - Validity; conclusive presumptions.
NRS 315.670 - Authorized provisions: Bonds; trust indentures; mortgages.
NRS 315.680 - Pledges and mortgages.
NRS 315.700 - Rental income; special funds.
NRS 315.710 - Procedure relating to bondholders’ contracts.
NRS 315.720 - Use, maintenance and insurance of property.
NRS 315.725 - Program to jointly self-insure and purchase insurance or reinsurance.
NRS 315.730 - Obligees’ powers and duties.
NRS 315.740 - Exercise of enumerated powers.
NRS 315.750 - Submission to and certification of bonds by Attorney General.
NRS 315.760 - Housing authority bonds: Authorized investments.
NRS 315.770 - Remedies of authority’s obligee.
NRS 315.780 - Additional remedies conferrable by authority on obligee.
NRS 315.7807 - Dissolution of individual authorities.
NRS 315.7809 - Appointment of commissioners; number; term; qualifications; vacancies.
NRS 315.7811 - Additional powers.
NRS 315.961 - Policy of State; findings and declarations.
NRS 315.9625 - "Affordable housing" defined.
NRS 315.963 - "Area of operation" defined.
NRS 315.964 - "Authority" defined.
NRS 315.965 - "Bonds" defined.
NRS 315.9655 - "Business entity" defined.
NRS 315.967 - "Executive Director" defined.
NRS 315.968 - "Federal Government" defined.
NRS 315.969 - "Housing project" defined.
NRS 315.971 - "Local authority" defined.
NRS 315.972 - "Obligee" defined.
NRS 315.973 - "Persons of low and moderate income" defined.
NRS 315.978 - Certificate of appointment or reappointment of commissioner: Filing.
NRS 315.980 - Compensation of commissioners.
NRS 315.981 - Conflicts of interest.
NRS 315.982 - Removal of commissioners; filling of vacancy in office.
NRS 315.9835 - Area of operation.
NRS 315.984 - Powers of Authority concerning housing projects and low-rent housing.
NRS 315.9845 - Determination of income.
NRS 315.988 - Powers of Authority under Housing Authorities Law of 1947.
NRS 315.989 - State projects subject to local ordinances.
NRS 315.990 - Payments in lieu of taxes.
NRS 315.991 - Acquisition, operation or disposition of property by public agencies: Law applicable.
NRS 315.994 - Tenant selection.
NRS 315.995 - Remedies of Authority’s obligee: Effect of NRS 315.993 and 315.994.
NRS 315.996 - Powers of state public bodies respecting housing projects.
NRS 315.99815 - "Lending institution" defined.
NRS 315.99818 - "Mortgage" defined.
NRS 315.9982 - "Mortgage loan" defined.
NRS 315.99825 - "Real property" defined.
NRS 315.99828 - "Residential housing" defined.
NRS 315.9983 - Mortgages and loans: Generally.
NRS 315.99832 - Mortgages and loans: Security; repayment; interest.
NRS 315.99834 - Mortgages and loans: Related powers.
NRS 315.99836 - Mortgages and loans: Fees and charges.
NRS 315.99838 - Mortgages and loans: Insurance.
NRS 315.9984 - Findings necessary for financing.
NRS 315.99842 - Notes, bonds and other obligations: Issuance; amounts; payment.
NRS 315.99844 - Notes, bonds and other obligations: Type; interest; sale.
NRS 315.99846 - Notes, bonds and other obligations: Pledges.
NRS 315.99848 - Notes, bonds and other obligations: Trust indentures.
NRS 315.9985 - Notes, bonds and other obligations: Guarantees of payment.
NRS 315.99852 - Notes, bonds and other obligations: Redemption; remarketing or refunding.
NRS 315.99858 - Notes, bonds and other obligations: Refunding obligations.
NRS 315.99862 - Notes, bonds and other obligations: Limitations on bond reserve funds.
NRS 315.99864 - Notes, bonds and other obligations: Purpose of bond reserve fund requirements.
NRS 315.99866 - Notes, bonds and other obligations: Remedies of bondholders and noteholders.
NRS 315.99872 - Notes, bonds and other obligations: Legal investments; securities.
NRS 315.99874 - Notes, bonds and other obligations: Signatures of commissioners and officers.