Nevada Revised Statutes 496.150 – Issuance of general obligation and revenue bonds to pay costs of acquisition and development
To defray the cost of planning and acquiring, establishing, developing, constructing, enlarging, improving or equipping an airport or air navigation facility, or the site therefor, including buildings and other facilities incidental to the operation thereof, and the acquisition or elimination of airport hazards, or any combination thereof, the governing body may, at any time or from time to time, in the name and on the behalf of the municipality, issue:
Terms Used In Nevada Revised Statutes 496.150
- Air navigation facility: means any facility, other than one owned and operated by the United States, used in, available for use in, or designed for use in, aid of air navigation, including any structures, mechanisms, lights, beacons, markers, communicating systems, or other instrumentalities, or devices used or useful as an aid, or constituting an advantage or convenience, to the safe taking off, navigation, and landing of aircraft, or the safe and efficient operation or maintenance of an airport, and any combination of any or all of such facilities. See Nevada Revised Statutes 496.020
- Airport: means any area of land or water which is used for the landing and takeoff of aircraft, and any appurtenant areas which are used for airport buildings or other airport facilities or rights-of-way, together with all airport buildings and facilities located thereon. See Nevada Revised Statutes 496.020
- Municipality: means any county, city or town of this state. See Nevada Revised Statutes 496.020
- 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.
1. General obligation bonds, payable from taxes;
2. General obligation bonds, payable from taxes, which payment is additionally secured by a pledge of net revenues or gross revenues derived from the operation of all or any part of the airport or any facilities appertaining thereto; and
3. Revenue bonds constituting special obligations and payable from such net revenues or gross revenues.