Nevada Revised Statutes
Chapter 349 - State Obligations
NRS 349.870 - Sufficiency of NRS 349.700 to 349.870, inclusive; construction.


1. The provisions of NRS 349.700 to 349.870, inclusive, without reference to other statutes of the State, constitute full authority for the exercise of powers granted in those sections, including but not limited to the authorization and issuance of bonds.
2. No other act or law with regard to the authorization or issuance of bonds that provides for an election, requires an approval, or in any way impedes or restricts the carrying out of the acts authorized in NRS 349.700 to 349.870, inclusive, to be done, apply to any proceedings taken under those sections, or acts done pursuant to those sections, except for laws to which reference is expressly made in those sections or by necessary implication of those sections.
3. The provisions of no other law, either general or local, except as provided in NRS 349.700 to 349.870, inclusive, apply to the doing of the things authorized in those sections to be done, and no board, agency, bureau, commission or official not designated in those sections has any authority or jurisdiction over the doing of any of the acts authorized in those sections to be done, except as otherwise provided in those sections.
4. Any bank or trust company located within or without this state may be appointed and act as a trustee with respect to bonds issued pursuant to NRS 349.700 to 349.870, inclusive, without the necessity of associating with any other person or entity as cofiduciary, but such an association is not prohibited.
5. The powers conferred by NRS 349.700 to 349.870, inclusive, are in addition and supplemental to, and not in substitution for, and the limitations imposed by those sections do not affect the powers conferred by any other law.
6. No part of NRS 349.700 to 349.870, inclusive, repeals or affects any other law or part thereof, except to the extent that those sections are inconsistent with any other law, it being intended that those sections provide a separate method of accomplishing its objectives, and not an exclusive one.
7. The Director or a person designated by the Director may take any actions and execute and deliver any instruments, contracts, certificates and other documents, including the bonds, necessary or appropriate for the sale and issuance of the bonds or accomplishing the purposes of NRS 349.700 to 349.870, inclusive, without the assistance or intervention of any other officer.
8. NRS 349.700 to 349.870, inclusive, must be liberally construed to effectuate the purposes of this act.
(Added to NRS by 1985, 2021)

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Structure Nevada Revised Statutes

Nevada Revised Statutes

Chapter 349 - State Obligations

NRS 349.005 - "Bond question" defined.

NRS 349.010 - Submission of proposal to issue bonds at special, primary or general election; limitation on special elections.

NRS 349.013 - Publication of notice of election; Secretary of State to certify proposal to county clerks.

NRS 349.015 - Contents of sample ballot and notice of election; consolidation with primary or general election.

NRS 349.017 - Notice of registration of electors for special election; hours for registration.

NRS 349.020 - Ballots: Form.

NRS 349.030 - Ballot boxes; mechanical recording devices for voting.

NRS 349.040 - Special election: Appointment and duties of inspectors and clerks; election board and precincts.

NRS 349.050 - Qualifications of electors; absent voting. [Effective through December 31, 2021.] Qualifications of electors; absent voting. [Effective January 1, 2022.]

NRS 349.060 - Canvass of votes; certification of results; abstract transmitted by county clerk to Secretary of State.

NRS 349.070 - Approval or rejection of bonds: Procedure.

NRS 349.071 - Powers of State Board of Finance.

NRS 349.072 - State Bond Issuance Account: Creation; appropriations.

NRS 349.073 - Issuance of interim debentures to pay for general operations of the State upon certain determinations relating to State General Fund cash balance.

NRS 349.075 - Definitions.

NRS 349.076 - Maximum rate of interest on securities issued by State.

NRS 349.077 - Discounts.

NRS 349.078 - Limitation on issuance or sale after date of election.

NRS 349.080 - Purpose of NRS 349.080 to 349.140, inclusive.

NRS 349.090 - Creation; records of accounting.

NRS 349.100 - Deposits of money in Fund.

NRS 349.110 - Payment of principal, interest and administrative expenses for bonds.

NRS 349.120 - Legislative appropriations from State General Fund.

NRS 349.130 - Deficiencies in Fund made up from State General Fund.

NRS 349.140 - Effect of NRS 349.080 to 349.140, inclusive.

NRS 349.150 - Short title.

NRS 349.152 - Purpose; supplemental nature.

NRS 349.154 - Definitions.

NRS 349.156 - "Acquisition" and "acquire" defined.

NRS 349.158 - "Chair" and "Chair of the Commission" defined.

NRS 349.160 - "Commercial bank" defined.

NRS 349.162 - "Commission" defined.

NRS 349.164 - "Condemnation" and "condemn" defined.

NRS 349.166 - "Controller" defined.

NRS 349.168 - "Cost of any project" defined.

NRS 349.169 - "Disposal" and "dispose" defined.

NRS 349.1695 - "Equip" and "equipment" defined.

NRS 349.170 - "Facilities" defined.

NRS 349.172 - "Federal Government" defined.

NRS 349.174 - "Federal securities" defined.

NRS 349.176 - "Governor" defined.

NRS 349.178 - "Gross revenues" and "gross pledged revenues" defined.

NRS 349.180 - "Hereby," "herein," "hereinabove," "hereinafter," "hereinbefore," "hereof," "hereto," "hereunder," "heretofore" and "hereafter" defined.

NRS 349.182 - "Holder" defined.

NRS 349.184 - "Improvement" and "improve" defined.

NRS 349.186 - "Net revenues" and "net pledged revenues" defined.

NRS 349.188 - "Operation and maintenance expenses" defined.

NRS 349.192 - "Pledged revenues" defined.

NRS 349.194 - "Project" defined.

NRS 349.196 - "Secretary" defined.

NRS 349.198 - "State securities" and "securities" defined.

NRS 349.200 - "State" defined.

NRS 349.202 - "Taxation" defined.

NRS 349.204 - "Taxes" defined.

NRS 349.206 - "Treasurer" defined.

NRS 349.208 - "Trust bank" defined.

NRS 349.210 - "United States" defined.

NRS 349.212 - Powers of State in connection with projects.

NRS 349.213 - Power of eminent domain; reimbursement of public utility for removal and relocation.

NRS 349.214 - Power of State to become obligated and issue securities for project.

NRS 349.216 - Types of securities which may be issued; series.

NRS 349.218 - Notes and warrants: Maturity; extension or funding.

NRS 349.220 - Temporary bonds: Conditions, terms and provisions; rights and remedies of holder.

NRS 349.222 - Resolution authorizing issuance of securities: Description of purposes.

NRS 349.223 - Sale of securities as investment to defray anticipated costs of college.

NRS 349.224 - General obligations: Types of securities.

NRS 349.225 - General obligation bonds subject to review and approval of State Board of Finance; exception.

NRS 349.226 - Special obligations: Types of securities.

NRS 349.227 - Rates of interest for certain securities; agreement with third party for assurance of payment for securities; reimbursement for advances made pursuant to agreement.

NRS 349.2275 - Variable rates of interest: Exemption from limitations; conclusive findings of Commission that procedure for determination of rates is reasonable.

NRS 349.228 - Securities issued as general obligations payable from gross revenues: Covenant requiring appropriations to pay expenses of operation and maintenance.

NRS 349.230 - Securities issued as general obligations constitute outstanding indebtedness of State; exceptions.

NRS 349.232 - Securities issued as special obligations do not constitute outstanding indebtedness of State.

NRS 349.234 - Recitals required in state securities.

NRS 349.236 - Payment of principal of and interest on general obligation bonds from Consolidated Bond Interest and Redemption Fund.

NRS 349.238 - Annual levy of special tax to pay interest on and retire securities issued as general obligations; proceeds of tax kept in two special funds.

NRS 349.240 - Time and duration of levy of special tax.

NRS 349.242 - Payment from State General Fund when taxes insufficient to pay amount due on securities issued as general obligations; reimbursement of State General Fund.

NRS 349.244 - Application of other available money to payment of interest on and principal of securities issued as general obligations.

NRS 349.248 - Proceeds of taxes specially appropriated to payment of principal and interest.

NRS 349.250 - Payment of state securities not to be secured by encumbrance, mortgage or pledge of State’s property; exception.

NRS 349.251 - Agreement for exchange of payments based on interest rates for state securities issued or proposed to be issued by Commission: Conditions; rates of interest; term of agreement; agreement does not constitute outstanding indebtedness of S...

NRS 349.252 - Recourse against members of Commission and state officers and agents: Acceptance of securities constitutes waiver and release.

NRS 349.254 - Covenants in resolution authorizing issuance of special obligations impose no liability against State or its general credit.

NRS 349.256 - Faith of State pledged against repeal, amendment or modification of State Securities Law.

NRS 349.260 - Details of state securities provided by resolution.

NRS 349.262 - Issuance of state securities.

NRS 349.270 - Securities sold publicly to be sold to responsible bidder making best bid; equal bids.

NRS 349.274 - Recital in securities conclusive evidence of validity and regularity of issuance.

NRS 349.276 - Denomination, negotiability and maturity of state securities; rate of interest.

NRS 349.278 - Payment of principal, interest and premium when due without further order.

NRS 349.280 - Interest coupons.

NRS 349.282 - Execution, signing, countersigning and authentication of state securities and coupons.

NRS 349.284 - Facsimile signatures and seals.

NRS 349.286 - Securities not invalid because signatories cease to fill offices.

NRS 349.288 - Adoption of facsimile signature of predecessor in office.

NRS 349.290 - Redemption before maturity.

NRS 349.292 - Repurchase of state securities.

NRS 349.294 - Use of money received from issuance of state securities.

NRS 349.296 - Disposition of unexpended balance of proceeds after completion of project.

NRS 349.298 - Validity of securities not dependent on proceedings relating to project or completion of purpose; purchasers not responsible for application of proceeds.

NRS 349.300 - Special funds and accounts: Creation; purposes.

NRS 349.302 - Employment of legal and other expert services; contracts for sale and other purposes.

NRS 349.303 - Delegation of power of Commission to sign contracts or accept binding bids for purchase of bonds; establishment of certain requirements and approval of certain terms by Commission for purchase of bonds.

NRS 349.304 - Investment and reinvestment of revenues and proceeds of taxes and securities in federal securities or certain money market mutual funds.

NRS 349.306 - Covenants and other provisions in state securities.

NRS 349.308 - Pledged revenues received or credited subject to immediate lien; priority and validity of lien.

NRS 349.310 - Rights and powers of holders of state securities and trustees.

NRS 349.312 - Receivers: Appointment; powers and duties.

NRS 349.314 - Rights and remedies cumulative.

NRS 349.316 - Failure of holder to proceed does not relieve State, Commission and officers, agents and employees of State of liability for nonperformance of duties.

NRS 349.318 - Interim debentures: Issuance for general or special obligations; form; additional security.

NRS 349.320 - Issuance of state securities constituting debt to fund or refund special obligations not constituting indebtedness: Conditions; restrictions.

NRS 349.322 - Interim debentures: Maturity; uses of proceeds; issuance.

NRS 349.324 - Interim debentures: Security for payment.

NRS 349.326 - Interim debentures: Extension and funding.

NRS 349.328 - Interim debentures: Funding by reissuance of bonds pledged as collateral security; issuance of other bonds.

NRS 349.330 - Refunding of general and special obligation bonds: Resolution; trust indenture.

NRS 349.332 - Calls for prior redemption: Limitations.

NRS 349.334 - Exchange of outstanding securities held by State or its agencies for funding or refunding.

NRS 349.336 - Refunding of outstanding securities evidencing long-term loans.

NRS 349.338 - Refunding bonds: Exchange for outstanding bonds or federal securities; public or private sale.

NRS 349.340 - Conditions for refunding bonds.

NRS 349.342 - Refunding bonds: Disposition of proceeds; accrued interest and premium; costs; escrow; trusts.

NRS 349.344 - Proceeds of refunding bonds in escrow or trust: Investment; security; sufficient amount; purchaser not responsible for application of proceeds.

NRS 349.346 - Refunding bonds payable from taxes or pledged revenues.

NRS 349.348 - Issuance of bonds separately or in combination.

NRS 349.350 - Other statutory provisions applicable to refunding bonds.

NRS 349.352 - Conclusive determination of Commission that statutory limitations have been met.

NRS 349.354 - Bonds and other securities exempt from taxation; exceptions.

NRS 349.356 - Securities issued as general obligations are legal investments for state money.

NRS 349.358 - Legal investments for other persons.

NRS 349.362 - Sufficiency of State Securities Law.

NRS 349.364 - Liberal construction.

NRS 349.400 - Definitions.

NRS 349.405 - "Biomass" defined.

NRS 349.410 - "Board" defined.

NRS 349.420 - "Bonds" and "revenue bonds" defined.

NRS 349.425 - "Corporation for public benefit" defined.

NRS 349.430 - "Cost of a project" defined.

NRS 349.440 - "Director" defined.

NRS 349.450 - "Expense of operation and maintenance" defined.

NRS 349.460 - "Finance" and "financing" defined.

NRS 349.470 - "Financing agreement" defined.

NRS 349.475 - "Fuel cell" defined.

NRS 349.480 - "Health and care facility" defined.

NRS 349.485 - "Historic structure" defined.

NRS 349.490 - "Mortgage" defined.

NRS 349.500 - "Obligor" defined.

NRS 349.510 - "Project" defined.

NRS 349.515 - "Renewable energy" defined.

NRS 349.517 - "Renewable energy generation project" defined.

NRS 349.520 - "Revenues" defined.

NRS 349.530 - "Supplemental facility for a health and care facility" defined.

NRS 349.540 - "Warehousing" defined.

NRS 349.550 - Applicability of definitions contained in county and city economic development revenue bond laws.

NRS 349.555 - Exercise of powers for general welfare; liberal construction.

NRS 349.560 - Legislative declaration.

NRS 349.565 - Restrictions on Director’s powers.

NRS 349.570 - General power of Director to issue bonds.

NRS 349.580 - Prerequisites to financing project: Findings of Director.

NRS 349.585 - Prerequisites to financing project: Approval of Office of Economic Development.

NRS 349.590 - Prerequisites to financing project: Additional considerations.

NRS 349.595 - Prerequisites to financing costs related to equipment for project; establishment of guidelines.

NRS 349.597 - Confidentiality of information concerning obligor.

NRS 349.600 - Bonds to be special obligations.

NRS 349.610 - Form and terms of bonds; sale; employment of financial and legal consultants.

NRS 349.620 - Security.

NRS 349.630 - Regulations.

NRS 349.640 - Refunding.

NRS 349.650 - Limitation of actions.

NRS 349.660 - Faith of State pledged against repeal, amendment or modification of NRS 349.400 to 349.670, inclusive.

NRS 349.670 - Sufficiency of NRS 349.400 to 349.670, inclusive.

NRS 349.700 - Legislative declaration.

NRS 349.710 - Definitions.

NRS 349.715 - "Bonds" defined.

NRS 349.720 - "Director" defined.

NRS 349.725 - "Exporter" defined.

NRS 349.730 - "Guaranteed funding" defined.

NRS 349.735 - "Loss" defined.

NRS 349.740 - "Participating financial institution" defined.

NRS 349.745 - "Program" defined.

NRS 349.750 - Director: Administration of provisions; powers; biennial report to State Board of Finance and Legislative Commission.

NRS 349.755 - Director: Delegation of duties.

NRS 349.760 - Transactions eligible for guaranteed funding: Criteria.

NRS 349.765 - Guaranteed funding provided to participating financial institution: Limitation on amount; finding of Director of necessity for funding; term of and interest on loan to exporter.

NRS 349.770 - Investigation of credit available to exporter prerequisite for guaranteed funding.

NRS 349.775 - Confidentiality of information concerning exporter.

NRS 349.780 - Fees charged to participating financial institution.

NRS 349.785 - Agreements excusing payment on guaranteed funding and loan to exporter; fee charged to exporter.

NRS 349.790 - Director subrogated to rights of exporter and participating financial institution upon default by exporter.

NRS 349.795 - Guarantee: Not general obligation of State; limitation on termination, cancellation or revocation; presumption of validity.

NRS 349.800 - Advisory Committee on Financing Exports: Creation; composition; terms of members.

NRS 349.805 - Advisory Committee on Financing Exports: Meetings; quorum; officers; rules; compensation and expenses.

NRS 349.810 - Advisory Committee on Financing Exports: Powers and duties.

NRS 349.815 - Regulations for operation of program.

NRS 349.820 - Limitation on personal liability of Director or person acting on his or her behalf.

NRS 349.825 - Issuance of revenue bonds: Director required to submit findings to Advisory Committee on Financing Exports and State Board of Finance; approval of State Board of Finance; limitation on amount of bonds.

NRS 349.830 - Bonds: Special obligations of State.

NRS 349.835 - Bonds: Form and terms; sale.

NRS 349.840 - Bonds: Repurchase.

NRS 349.845 - Bonds: Refunding.

NRS 349.850 - Bonds: Legal investments.

NRS 349.855 - Director: Establishment of funds and accounts; investments and deposits.

NRS 349.857 - Director: Loans of securities.

NRS 349.860 - Insurance.

NRS 349.865 - Faith of State pledged against repeal, amendment or modification of NRS 349.700 to 349.870, inclusive.

NRS 349.870 - Sufficiency of NRS 349.700 to 349.870, inclusive; construction.

NRS 349.900 - Legislative declaration.

NRS 349.901 - Definitions.

NRS 349.902 - "Account for Venture Capital" defined.

NRS 349.903 - "Agreement" defined.

NRS 349.904 - "Board" defined.

NRS 349.905 - "Bonds" and "revenue bonds" defined.

NRS 349.906 - "Director" defined.

NRS 349.907 - "Expense of operation and maintenance" defined.

NRS 349.908 - "Fund for the Retirement of Bonds" defined.

NRS 349.909 - "Management company" defined.

NRS 349.910 - General powers of Director; promotion of funds for venture capital; liberal construction.

NRS 349.911 - Limitation on personal liability of Director or person acting on his or her behalf.

NRS 349.912 - Director: Selection of management company; agreement; regulations; expenses of operation and maintenance; employees, advisers and consultants.

NRS 349.913 - Director: Restriction on operation or management of enterprise.

NRS 349.914 - Director: Allocation of proceeds of bonds.

NRS 349.915 - Contents of agreement.

NRS 349.916 - Objective of investments for Account for Venture Capital.

NRS 349.917 - Form of investments of management company; management company to be managed by experienced person.

NRS 349.918 - Prerequisites for management company.

NRS 349.919 - Issuance of revenue bonds: Director required to submit findings to Board; approval of Board; limitation on amount of bonds.

NRS 349.920 - Issuance of bonds: Findings of Director and Board.

NRS 349.921 - Bonds: Safety as to repayment of principal and interest; Fund for the Retirement of Bonds; investment of money in Fund.

NRS 349.922 - Bonds: Special obligations of State.

NRS 349.923 - Bonds: Form and terms; sale.

NRS 349.924 - Bonds: Regulations for investment and reinvestment of proceeds and management of proceeds by banks or trust companies.

NRS 349.925 - Bonds: Refunding.

NRS 349.926 - Limitation of actions.

NRS 349.927 - Faith of State pledged against repeal, amendment or modification of NRS 349.900 to 349.929, inclusive.

NRS 349.928 - Sufficiency of NRS 349.900 to 349.929, inclusive; construction.

NRS 349.929 - Account for Venture Capital to be entrusted to management company; proceeds of bonds may be entrusted to another management company.

NRS 349.935 - Definitions.

NRS 349.936 - "Board" defined.

NRS 349.937 - "Cost of a water project" defined.

NRS 349.938 - "Director" defined.

NRS 349.939 - "Expense of operation and maintenance" defined.

NRS 349.940 - "Mortgage" defined.

NRS 349.941 - "Obligor" defined.

NRS 349.942 - "Revenue bonds" defined.

NRS 349.943 - "State securities" defined.

NRS 349.944 - "Tax" defined.

NRS 349.945 - "Water project" defined.

NRS 349.946 - General powers of Director; adoption of regulations.

NRS 349.947 - Liberal construction.

NRS 349.948 - Prerequisites for financing water projects.

NRS 349.949 - Forms and terms of bonds; sale; employment of financial and legal consultants.

NRS 349.950 - Issuance of state securities or revenue bonds: Limitation on amount; payment; legislative declaration.

NRS 349.951 - Director may charge fee against obligor; use of proceeds.

NRS 349.952 - Account for the Financing of Water Projects: Deposits; application of revenue; investment of money from revenue bonds.

NRS 349.953 - Refunding.

NRS 349.954 - Limitation of actions.

NRS 349.955 - Faith of State pledged against repeal, amendment or modification of NRS 349.935 to 349.961, inclusive.

NRS 349.956 - Exemption of water projects from requirements of other statutes; exception for statutes relating to employment of persons to work on construction projects.

NRS 349.957 - Board for Financing Water Projects: Creation; members.

NRS 349.958 - Board for Financing Water Projects: Compensation of members.

NRS 349.959 - Board for Financing Water Projects: Election of Chair; meetings.

NRS 349.960 - State Engineer may advise Board; State Engineer and Director may assist in preparation of preliminary plan.

NRS 349.961 - Water projects: Preliminary plan; approval.

NRS 349.980 - Definitions.

NRS 349.981 - Program to provide grants for water conservation and capital improvements to certain water systems; Board for Financing Water Projects to determine recipients of grants; applicability to certain recipients of provisions governing public...

NRS 349.982 - Powers and duties of Board for Financing Water Projects: Administration of program; adoption of regulations; use of money in Fund to defray certain costs and expenses; imposition of administrative fee.

NRS 349.983 - Purveyors of water that are eligible to receive grants; preference for smaller systems; matching money from other sources.

NRS 349.984 - Fund for Grants for Water Conservation, Capital Improvements to Certain Water Systems and Improvements to Certain Sewage Disposal Systems: Creation; use; payment of claims.

NRS 349.985 - Fund for Grants for Water Conservation, Capital Improvements to Certain Water Systems and Improvements to Certain Sewage Disposal Systems: Deposit of money; interest and income credited to Fund.

NRS 349.986 - General obligation bonds.

NRS 349.987 - Applicability of State Securities Law and certain provisions governing financing of water projects.