Nevada Revised Statutes
Chapter 350 - Municipal Obligations

NRS 350.0115 - Creation; composition; selection and terms of members; interest in securities issued by State or political subdivision prohibited; vacancies. - 1. There is hereby created in each county whose population...

NRS 350.012 - Meetings; officers; removal of member; quorum; compensation. - 1. The commission shall meet during the month of February...

NRS 350.0125 - Technical assistance provided by Department of Taxation or board of county commissioners to carry out duties of commission. - 1. The commission in a county whose population is less...

NRS 350.013 - Municipalities to submit annually statement of current and contemplated general obligation debt and special elective taxes, statement of debt management policy, plan for capital improvement or alternate statement and certain information... - 1. Except as otherwise provided in this section, on or...

NRS 350.0135 - Proposal resulting in increase of rate of property taxes: Determination and notification of affected governmental entities by municipality; approval or objection by affected governmental entity; notification of commission of objection;... - 1. Before a municipality may submit to the commission a...

NRS 350.014 - Approval or notification of commission required for certain proposals. - 1. Before any proposal to incur a general obligation debt...

NRS 350.0145 - Notice and submission of statement of certain proposals to commission; procedure for approval or disapproval. - 1. The governing body of the municipality proposing to incur...

NRS 350.015 - Criteria for approval or disapproval of certain proposals; requests for information; use of money received from sale of general obligation debt or from special elective tax. - 1. In determining whether to approve, conditionally or provisionally approve,...

NRS 350.0155 - Commission to specify percentage of limitation on total ad valorem tax levy and establish priorities among essential and nonessential facilities and services for purposes of NRS 350.015. - At the annual meeting in August required by NRS 350.012,...

NRS 350.016 - Evaluation of proposal: Power of commission to employ consultants; costs. - The commission has the power, with the consent of the...

NRS 350.0165 - Applicability of NRS 350.011 to 350.0165, inclusive. - The provisions of NRS 350.011 to 350.0165, inclusive, do not...

NRS 350.020 - Use of general obligation only for stated purpose; submission to electors of proposal to issue general obligations; restrictions on special elections; issuance of general obligations secured by pledge of revenues and issuance of special... - 1. A general obligation issued or incurred pursuant to this...

NRS 350.0201 - First additional 10-year period for issuance of certain general obligation bonds by board of trustees of school district. - If the voters approved a question that was submitted by...

NRS 350.0203 - Second additional 10-year period for issuance of certain general obligation bonds by board of trustees of school district. - If the voters approved a question that was submitted by...

NRS 350.0205 - Committee on Local Government Finance to provide forms for submitting ballot question and examples of past ballot questions for issuance or incurrence of general obligations. - 1. The Committee on Local Government Finance shall annually provide...

NRS 350.021 - Proposal may be combined on ballot with proposal to levy tax ad valorem for related purpose. - A proposal to issue or incur general obligations pursuant to...

NRS 350.022 - Notice of election on proposal to issue general obligations: Publication. - 1. Whenever a municipality by ordinance or resolution, as the...

NRS 350.024 - Contents of ballot question, sample ballot and notice of election on proposal to issue general obligations; consolidation of election with general, primary or municipal election; publication of notice of close of registration for specia... - 1. The ballot question for a proposal submitted to the...

NRS 350.027 - Sample ballot and notice of election on proposal to issue bonds or other securities to contain estimate of annual cost to operate, maintain and repair improvements to be constructed or acquired with proceeds of bonds or other securities... - 1. In addition to any requirements imposed pursuant to NRS...

NRS 350.030 - Election on proposal to issue general obligations: Expenses; ballots; validity of proposal; applicability of general election laws. - 1. If the election is not consolidated with another election,...

NRS 350.070 - Approval or disapproval by electors of proposal to issue general obligations: Procedure; validity of result. - 1. If a majority of the electors voting on the...

NRS 350.087 - Resolution authorizing medium-term obligation or installment-purchase agreement: Adoption; contents; notice. - 1. If the public interest requires a medium-term obligation or...

NRS 350.089 - Approval of resolution for medium-term obligation or installment-purchase agreement by Executive Director of Department of Taxation; appeal to Nevada Tax Commission. - Except as otherwise provided in NRS 280.266 and 496.155: 1....

NRS 350.091 - Governing body to update plan for capital improvement under certain circumstances; issuance and terms of evidence of medium-term obligation or installment-purchase agreement; regulations; applicability of prevailing wage requirements to... - 1. Whenever the governing body of any local government is...

NRS 350.093 - Limitations on transfer of money for medium-term obligation; refund of transfer. - 1. After a medium-term obligation has been authorized as provided...

NRS 350.095 - Levy of special tax; transfer of money remaining in fund. - 1. At the first tax levy following the creation of...

NRS 350.105 - Definitions. - As used in NRS 350.105 to 350.195, inclusive, unless the...

NRS 350.115 - "Bond" defined. - "Bond" means any evidence of borrowing by a municipality that...

NRS 350.125 - "Competitive bid" defined. - "Competitive bid" means the procedure for the sale of bonds...

NRS 350.135 - "Financial adviser" defined. - "Financial adviser" means a financial consulting firm whose employees have...

NRS 350.145 - "Negotiated sale" defined. - "Negotiated sale" means the procedure for the sale of bonds...

NRS 350.155 - Sale by competitive bid: Requirements; exceptions; contents of certificate required for certain bonds; filing and approval of certificate; publication of invitation for competitive bids. - 1. Except as otherwise provided in subsection 2, a municipality...

NRS 350.165 - Delegation of authority to sign contract to purchase or accept binding bid for bonds; approval of certain terms by governing body required. - 1. The governing body of a municipality may, before any...

NRS 350.175 - Negotiated sale: Notice of request for proposals; description of procedure for request for proposals in debt management policy; time limitation on sale of bonds after selection of underwriter. - 1. If a municipality wishes to sell its bonds by...

NRS 350.185 - Negotiated sale: Procedure for selection of proposal for sale of bonds; certification of procedure. - 1. The governing body of a municipality which sells bonds...

NRS 350.195 - Financial adviser: Prohibited acts. - A financial adviser who provides any report required pursuant to...

NRS 350.201 - Definitions. - As used in NRS 350.201 to 350.2013, inclusive: 1. "Par"...

NRS 350.2011 - Maximum rate of interest on securities of political subdivisions. - 1. Except as otherwise provided in this section and NRS...

NRS 350.2012 - Discounts. - Except where the provisions, whenever enacted, of a general or...

NRS 350.2013 - Issuance or sale more than 6 years after date of election prohibited; exception. - Except as otherwise provided in subsection 4 of NRS 350.020,...

NRS 350.202 - County ordinance may provide for service of bonded indebtedness for general obligations through single debt service fund; consolidated levy of taxes. - Notwithstanding the provisions of any special law authorizing the issuance...

NRS 350.204 - Merger of sinking and other debt service funds into single fund. - Such ordinance shall provide that upon the first day of...

NRS 350.206 - Sufficiency of levy of taxes. - Each levy of taxes made after the enactment of such...

NRS 350.208 - Obligation of bond not impaired. - The provisions of NRS 350.202, 350.204 and 350.206 do not...

NRS 350.350 - Short title. - NRS 350.350 to 350.490, inclusive, may be cited as the...

NRS 350.360 - Definitions. - Wherever used in NRS 350.350 to 350.490, inclusive, unless a...

NRS 350.370 - Additional powers of municipality under NRS 350.350 to 350.490, inclusive. - In addition to the powers which it may now have,...

NRS 350.373 - Supplemental powers of municipality to prescribe, revise and collect charges; expenses of collection. - In supplementation of the provisions of subsection 3 of NRS...

NRS 350.375 - Use of revenues derived from undertaking of municipality. - Subject to any pledges and other contractual limitations appertaining to...

NRS 350.380 - Undertaking and issuance of bonds: Procedure. - The acquisition, construction, reconstruction, improvement, betterment or extension of any...

NRS 350.400 - Sale of bonds. - The bonds shall be sold as provided in the Local...

NRS 350.490 - Powers conferred in NRS 350.350 to 350.490, inclusive, additional and supplemental; controlling provisions. - 1. The powers conferred by NRS 350.350 to 350.490, inclusive,...

NRS 350.495 - Willful violation of covenant in securities by member of governing body, officer or agent of municipality unlawful; penalty. - 1. Any member of the governing body and any officer...

NRS 350.500 - Short title. - NRS 350.500 to 350.720, inclusive, may be cited as the...

NRS 350.502 - Purpose; supplemental nature. - It is the purpose of the Local Government Securities Law...

NRS 350.504 - Definitions. - As used in this chapter and in any instrument or...

NRS 350.506 - "Acquisition" and "acquire" defined. - "Acquisition" or "acquire" includes the opening, laying out, establishment, purchase,...

NRS 350.508 - "Chair" and "chair of the municipality" defined. - "Chair" or "chair of the municipality" or any phrase of...

NRS 350.510 - "Clerk" defined. - "Clerk" means the de facto or de jure county clerk,...

NRS 350.512 - "Commercial bank" defined. - "Commercial bank" means: 1. A state or national bank or...

NRS 350.514 - "Condemnation" and "condemn" defined. - "Condemnation" or "condemn" means the acquisition by the exercise of...

NRS 350.516 - "Cost of any project" defined. - "Cost of any project," or any phrase of similar import,...

NRS 350.517 - "Disposal" and "dispose" defined. - "Disposal" or "dispose" means the sale, destruction, razing, loan, lease,...

NRS 350.5175 - "Equip" and "equipment" defined. - "Equip" or "equipment" means the furnishing of all related or...

NRS 350.518 - "Facilities" defined. - "Facilities" means buildings, structures, utilities, or other income-producing facilities from...

NRS 350.520 - "Federal Government" defined. - "Federal Government" means the United States, or any agency, instrumentality...

NRS 350.522 - "Federal securities" defined. - "Federal securities" means bills, certificates of indebtedness, notes, bonds or...

NRS 350.524 - "Governing body" defined. - "Governing body" means the board of county commissioners, city council,...

NRS 350.526 - "Gross revenues" and "gross pledged revenues" defined. - "Gross revenues" or "gross pledged revenues" means all pledged revenues...

NRS 350.528 - "Hereby," "herein," "hereinabove," "hereinafter," "hereinbefore," "hereof," "hereto," "hereunder," "heretofore" and "hereafter" defined. - "Hereby," "herein," "hereinabove," "hereinafter," "hereinbefore," "hereof," "hereto," "hereunder" and any...

NRS 350.530 - "Holder" defined. - "Holder," or any similar term, when used in conjunction with...

NRS 350.532 - "Improvement" and "improve" defined. - "Improvement" or "improve" includes the extension, widening, lengthening, betterment, alteration,...

NRS 350.534 - "Municipal" defined. - "Municipal" means pertaining to a municipality as defined in NRS...

NRS 350.536 - "Municipal securities" and "securities" defined. - "Municipal securities" or merely "securities" means notes, warrants, bonds, temporary...

NRS 350.538 - "Municipality" defined. - 1. "Municipality" means any county, any incorporated city or town,...

NRS 350.540 - "Net revenues" and "net pledged revenues" defined. - "Net revenues" or "net pledged revenues" means "gross revenues," after...

NRS 350.542 - "Operation and maintenance expenses" defined. - 1. "Operation and maintenance expenses," or any phrase of similar...

NRS 350.546 - "Ordinance" defined. - "Ordinance" means a county ordinance, city ordinance, town ordinance, school...

NRS 350.550 - "Pledged revenues" defined. - "Pledged revenues" means the moneys pledged wholly or in part...

NRS 350.552 - "Project" defined. - "Project" means any undertaking or undertakings which the governing body...

NRS 350.554 - "Public body" defined. - "Public body" means the Nevada System of Higher Education, the...

NRS 350.556 - "State" defined. - "State" means the State of Nevada, or any board, department...

NRS 350.558 - "Taxation" defined. - "Taxation" means the levy and collection of taxes as defined...

NRS 350.560 - "Taxes" defined. - "Taxes" means general (ad valorem) property taxes. (Added to NRS...

NRS 350.562 - "Treasurer" defined. - 1. "Treasurer" means: (a) The de facto or de jure...

NRS 350.564 - "Trust bank" defined. - "Trust bank" means: 1. A commercial bank as defined in...

NRS 350.566 - "United States" defined. - "United States" means the United States of America; and where...

NRS 350.568 - Powers of municipality in connection with projects. - In connection with any project, the municipality, acting by and...

NRS 350.569 - Power of eminent domain; reimbursement of public utility for removal and relocation. - 1. The governing body may: (a) Exercise on behalf of...

NRS 350.570 - Power of municipality to become obligated and issue securities for project. - For the purpose of paying the cost of any project...

NRS 350.572 - Types of securities which may be issued; series. - The municipality may issue, in one series or more, without...

NRS 350.573 - Sale of right to call for purchase of securities. - 1. A municipality may sell the right to call for...

NRS 350.574 - Notes and warrants: Maturity; extension or funding. - Notes and warrants may mature at such time or times...

NRS 350.575 - Resolution to finance preservation or restoration of historic structure; approval of Executive Director of Department of Taxation; appeal to Nevada Tax Commission. - 1. Upon the adoption of a resolution to finance the...

NRS 350.5755 - Issuance of negotiable notes or bonds to finance restoration of historic structure; maturity; interest. - 1. Whenever the governing body of any municipality is authorized...

NRS 350.576 - Temporary bonds: Conditions, terms and provisions; holder’s rights and remedies. - Each temporary bond shall set forth substantially the same conditions,...

NRS 350.578 - Ordinance authorizing issuance of securities: Description of purposes. - The ordinance authorizing the issuance of any municipal securities hereunder...

NRS 350.579 - Emergency ordinances: Adoption; effective date. - 1. Any ordinance pertaining to the sale, issuance or payment...

NRS 350.580 - General obligations: Types of securities. - The municipality may issue as general obligations any of the...

NRS 350.582 - Special obligations: Types of securities. - The municipality may issue as special obligations any of the...

NRS 350.583 - Variable rates of interest for securities; agreement with third party for assurance of payment for securities; reimbursement for advances made pursuant to agreement; issuance of securities as commercial paper. - 1. The ordinance or resolution authorizing the issuance of any...

NRS 350.5835 - Variable rates of interest: Exemption from limitations; conclusive findings of governing body that procedure for determination of rates is reasonable. - In fixing the rate or rates of interest for municipal...

NRS 350.584 - Municipal securities payable from gross revenues: Covenant requiring appropriations to pay operation and maintenance expenses. - Any ordinance authorizing the issuance of general obligation securities or...

NRS 350.586 - Securities issued as general obligations constitute outstanding indebtedness. - Any outstanding general obligation bonds, any temporary general obligation bonds...

NRS 350.588 - Securities issued as special obligations do not constitute outstanding indebtedness. - Any other municipal securities (except general obligation notes and general...

NRS 350.590 - Recitals required in municipal securities. - 1. Municipal securities issued hereunder and constituting special obligations shall...

NRS 350.592 - Annual levy of special tax to pay interest on and retire securities issued as general obligations; proceeds of tax kept in two special funds; consolidated debt service fund. - 1. There must be levied annually in due season a...

NRS 350.594 - Time and duration of levy of special tax. - Such tax shall be levied immediately after the issuance of...

NRS 350.596 - Payment from general fund when taxes insufficient to pay amount due on securities issued as general obligations; reimbursement of general fund. - Any sums coming due on any general obligation municipal securities...

NRS 350.598 - Application of other available money to payment of interest on and principal of securities issued as general obligations. - Nothing contained in the Local Government Securities Law shall be...

NRS 350.602 - Proceeds of taxes specially appropriated to payment of principal and interest. - There is by the Local Government Securities Law, and there...

NRS 350.604 - Payment of municipal securities not to be secured by encumbrance, mortgage or pledge of municipality’s property; exception. - 1. Except as otherwise provided in subsection 2: (a) The...

NRS 350.606 - Recourse against officers and agents of municipality: Acceptance of securities constitutes waiver and release. - No recourse shall be had for the payment of the...

NRS 350.608 - Covenants in ordinance authorizing issuance of special obligations impose no liability against municipality or its general credit. - None of the covenants, agreements, representations and warranties contained in...

NRS 350.610 - Faith of State pledged against repeal, amendment or modification of Local Government Securities Law. - The faith of the State is hereby pledged that the...

NRS 350.614 - Details of municipal securities provided by ordinance. - Except as otherwise provided in the Local Government Securities Law...

NRS 350.616 - Sale or issuance of municipal securities. - 1. Notes, bonds and interim debentures must be sold in...

NRS 350.628 - Recital in securities conclusive evidence of validity and regularity of issuance. - An ordinance providing for the issuance of bonds or other...

NRS 350.630 - Denomination, negotiability and maturity of municipal securities; rate of interest. - 1. As the governing body may determine, any bonds and...

NRS 350.632 - Payment of principal, interest and premium when due without further order. - The principal of, the interest on and any prior redemption...

NRS 350.634 - Interest coupons. - Any bonds issued hereunder (except temporary bonds) shall have one...

NRS 350.636 - Execution, signing and authentication of municipal securities and coupons. - Bonds and other municipal securities issued hereunder shall be executed...

NRS 350.638 - Facsimile signatures and seals. - Any bonds or other securities, including without limitation any certificates...

NRS 350.640 - Securities not invalid because signatories cease to fill offices. - The bonds, any coupons appertaining thereto and other securities, bearing...

NRS 350.642 - Adoption of facsimile signature of predecessor in office. - Any officer authorized or permitted to sign any bonds, any...

NRS 350.644 - Redemption before maturity. - The governing body may provide for the redemption of any...

NRS 350.646 - Repurchase of municipal securities. - Any bonds or other municipal securities may be repurchased by...

NRS 350.648 - Use of money received from issuance of municipal securities. - All moneys received from the issuance of any securities herein...

NRS 350.650 - Disposition of unexpended balance of proceeds after completion of project. - Any unexpended balance of the proceeds of such securities remaining...

NRS 350.652 - Validity of securities not dependent on proceedings relating to project or completion of purpose; purchasers not responsible for application of proceeds. - 1. The validity of any securities shall not be dependent...

NRS 350.654 - Special funds and accounts: Creation; purposes. - The governing body in any ordinance authorizing the issuance of...

NRS 350.656 - Employment of legal and other expert services; contracts for sale and other purposes. - 1. The governing body on the behalf of the municipality...

NRS 350.658 - Investment and reinvestment of revenues and proceeds of taxes and securities in federal securities and certain money market mutual funds. - 1. The governing body, subject to any contractual limitations from...

NRS 350.659 - Investment and reinvestment of revenues and proceeds of taxes and certain securities in investment contract collateralized with federal securities by governing body in county whose population is 20,000 or more. - The governing body of a local government in a county...

NRS 350.660 - Covenants and other provisions in municipal securities. - Any ordinance providing for the issuance of any bonds or...

NRS 350.662 - Pledged revenues received or credited subject to immediate lien; priority and validity of lien. - 1. Revenues pledged for the payment of any securities, as...

NRS 350.664 - Rights and powers of holders of municipal securities and trustees. - Subject to any contractual limitations binding upon the holders of...

NRS 350.666 - Receivers: Appointment; powers and duties. - 1. If an ordinance of the governing body authorizing or...

NRS 350.668 - Rights and remedies cumulative. - No right or remedy conferred upon any holder of any...

NRS 350.670 - Failure of holder to proceed does not relieve municipality, governing body and officers, agents and employees of municipality of liability for nonperformance of duties. - The failure of any holder of any municipal securities or...

NRS 350.672 - Interim debentures: Issuance for general or special obligations. - 1. Notwithstanding any limitation or other provision herein, whenever the...

NRS 350.674 - Issuance of municipal securities constituting debt to fund or refund special obligations not constituting indebtedness: Conditions; restrictions. - 1. Subject to the provisions of subsections 2, 3, 4...

NRS 350.676 - Interim debentures: Maturity; use of proceeds; issuance. - 1. Any interim debentures may mature at such time or...

NRS 350.678 - Interim debentures: Security for payment. - 1. Except as otherwise provided in NRS 350.674, the proceeds...

NRS 350.680 - Interim debentures: Extension and funding. - No interim debentures issued pursuant to the provisions of NRS...

NRS 350.682 - Interim debentures: Funding by reissuance of bonds pledged as collateral security; issuance of other bonds. - 1. For the purpose of funding any interim debentures, any...

NRS 350.684 - Refunding of general and special obligation bonds: Ordinance; trust indenture. - Subject to the provisions of NRS 350.674, any general obligation...

NRS 350.686 - Calls for prior redemption: Limitations. - Nothing contained in the Local Government Securities Law or in...

NRS 350.688 - Exchange of outstanding securities held by State or its agencies for funding or refunding. - Notwithstanding the provisions of NRS 350.686 or of any other...

NRS 350.690 - Refunding of outstanding securities evidencing long-term loans. - Any provision herein concerning the refunding of outstanding bonds includes...

NRS 350.692 - Refunding bonds: Sale or exchange for outstanding bonds; exchange for federal securities. - 1. Any bonds issued for refunding purposes may be delivered...

NRS 350.694 - Conditions for refunding bonds. - 1. No bonds may be refunded under this chapter unless...

NRS 350.696 - Refunding bonds: Disposition of proceeds, accrued interest and premium; costs; escrow; trusts. - 1. Except as herein otherwise provided, the proceeds of refunding...

NRS 350.698 - Proceeds of refunding bonds in escrow or trust: Investment; security; sufficient amount; purchaser not responsible for application of proceeds. - 1. Any such escrow or trust shall not necessarily be...

NRS 350.700 - Refunding bonds payable from taxes or pledged revenues. - Refunding bonds may be made payable from any taxes or...

NRS 350.702 - Issuance of bonds separately or in combination. - Bonds for refunding and bonds for any other purpose or...

NRS 350.704 - Bonds of abolished municipalities may be refunded. - 1. Bonds of any municipality abolished by law may be...

NRS 350.706 - Other statutory provisions applicable to refunding bonds. - Except as in NRS 350.684 to 350.704, inclusive, expressly provided...

NRS 350.708 - Conclusive determination of governing body that statutory limitations have been met. - The determination of the governing body that the limitations in...

NRS 350.710 - Bonds and other securities exempt from taxation; exception. - 1. Except as otherwise provided in subsection 2, bonds and...

NRS 350.712 - Securities issued as general obligations are legal investments for state money. - It is legal for the State Board of Finance to...

NRS 350.714 - Legal investments for other persons. - 1. It is legal for any bank, trust company, banker,...

NRS 350.718 - Sufficiency of Local Government Securities Law. - 1. The Local Government Securities Law, without reference to other...

NRS 350.720 - Liberal construction. - The Local Government Securities Law being necessary to secure the...

NRS 350.800 - Transactions whereby municipality acquires property and another person acquires or retains security interest in that or other property. - 1. A transaction whereby a municipality acquires real or personal...

NRS 350.810 - Purchase of municipal obligations by financial adviser of municipality limited. - 1. Except as permitted by this section, no person who...

NRS 350.820 - Agreements for exchange of interest rates. - 1. A municipality that has issued or proposes to issue...

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Nevada Revised Statutes Chapter 350 - Municipal Obligations

Nevada Revised Statutes
Chapter 350 - Municipal Obligations