Nevada Revised Statutes 396.845 – Power of University or Regents to become obligated and issue securities for project; other powers
1. Where any project is otherwise authorized by law and where the University or the Board is otherwise authorized by law to issue its securities to defray the cost of the project, at any time or from time to time the University or the Board may borrow money or otherwise become obligated for the project and may evidence any such obligation by the issuance of the University’s or the Board’s securities.
Terms Used In Nevada Revised Statutes 396.845
- Contract: A legal written agreement that becomes binding when signed.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- 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.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
- Personal property: All property that is not real property.
- University: means all of the universities within the Nevada System of Higher Education. See Nevada Revised Statutes 396.005
2. In connection with any project so authorized, the University or the Board, except as herein otherwise provided, may:
(a) Have a corporate seal and alter the same at pleasure;
(b) Sue and be sued;
(c) Acquire and hold real or personal property, or rights or interests therein, and water rights;
(d) Dispose of unnecessary or obsolete property, or rights or interests therein;
(e) Make contracts and execute all instruments necessary or convenient, as determined by the Board;
(f) Acquire by contract or contracts or by its own agents and employees, or otherwise acquire any properties as any project or projects so authorized, and operate and maintain such properties; and
(g) Accept grants of money or materials or property of any kind from the Federal Government, the State, any agency or political subdivision thereof, or any person, upon such terms and conditions as the Federal Government, the State, or such agency or political subdivision, or person may impose.