Nevada Revised Statutes 99.060 – Definitions relating to public securities
Current as of: 2023 | Check for updates
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1. As applied to bonds or other securities issued by this state or any political subdivision or municipal or public corporation of this state, ‘effective interest rate‘ means the interest rate based on the actual price paid to the public entity, calculated to maturity of the obligation according to standard tables of bond values.
Terms Used In Nevada Revised Statutes 99.060
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- 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.
2. When used in a limitation of the rate of interest upon such bonds or other securities, the ‘Index of Twenty Bonds’ and the ‘Index of Revenue Bonds’ refer to these indexes for municipal bonds as most recently published in the daily or weekly version of The Bond Buyer, at One State Street Plaza in New York City.