Nevada Revised Statutes 244A.064 – Lending projects: Powers of county
In connection with any lending project, a county may:
Terms Used In Nevada Revised Statutes 244A.064
- county: includes Carson City. See Nevada Revised Statutes 0.033
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- population: means the number of people in a specified area as determined by the last preceding national decennial census conducted by the Bureau of the Census of the United States Department of Commerce pursuant to Section 2 of Article I of the Constitution of the United States and reported by the Secretary of Commerce to the Governor pursuant to 13 U. See Nevada Revised Statutes 0.050
1. Require additional security or credit enhancement for payment of municipal securities acquired as it deems prudent.
2. Make contracts and execute all necessary or desirable instruments or documents not in conflict with the requirements of the County Bond Law.
3. Provide by ordinance for its standards, policies and procedures for financing lending projects.
4. Acquire and hold municipal securities and execute the rights of the holder of those municipal securities.
5. Sell or otherwise dispose of municipal securities unless the county is limited by any agreement that is related to those securities.
6. If the county and the municipality agree to the disposition of any savings resulting from the refunding:
(a) In a county whose population is 100,000 or more but less than 700,000, refund:
(1) Any county general obligations issued for a lending project;
(2) Any municipal securities issued on or after October 1, 1999, for one or more infrastructure projects which consist of capital improvements for a water system; or
(3) Any combination of subparagraphs (1) and (2).
(b) In all other counties, refund any county general obligations issued for a lending project.
7. Require payment by a municipality that participates in a lending project of the fees and expenses of the county in connection with the lending project.
8. Secure the payment of county general obligations issued for a lending project with a pledge of revenues of the lending project. If the revenues of a lending project are formally pledged to the county bonds issued to finance a lending project, the board may treat the revenues of the lending project financed by an issue of county general obligation bonds as pledged revenues pursuant to subsection 3 of NRS 350.020.