NRS 244A.059 County’s general obligation bonds; county’s debt limit.

2. A county shall not become indebted by the issuance of bonds or other securities constituting an indebtedness, whether the bonds are issued hereunder or under a special or local law, to an amount in the aggregate, including existing indebtedness of the county, but excluding any outstanding revenue bonds, any outstanding special assessment bonds, or any other outstanding special obligation securities, any short-term securities issued in anticipation of and payable from general ad valorem taxes levied for the current fiscal year, any general obligation indebtedness of the county issued to pay the cost of any lending project, and any indebtedness not evidenced by notes, bonds or other securities, exceeding 10 percent of the total last assessed valuation of the taxable property of the county.

3. A county shall not become indebted by the issuance of general obligation indebtedness to fund the cost of lending projects in an amount exceeding 15 percent of the total last assessed valuation of the taxable property of the county.

NRS 244A.061 Payment of bonds additionally secured by pledge of certain revenues. The payment of any bonds issued hereunder may be additionally secured by a pledge of all or part of any revenues derived from the operation of any project herein authorized and from any other income-producing project of the county and derived from any license or other excise taxes levied for revenue and available for such a pledge (or any combination thereof).

(Added to NRS by 1965, 640)—(Substituted in revision for NRS 244.806)

NRS 244A.063 Fees, rates and charges: Establishment, maintenance and revision of schedules. In order to insure the payment, wholly or in part, of the general obligation bonds of the county the payment of which bonds is additionally secured by a pledge of the revenues derived from any such income-producing project and from any such excise taxes, the board may establish and maintain, and the board may from time to time revise, a schedule or schedules of fees, rates and charges for services or facilities, or both services and facilities, rendered by or through the project, within the corporate limits of the county, and a schedule or schedules of license or other excise taxes, in an amount sufficient for that purpose and also sufficient to discharge any covenant in the proceedings of the board authorizing the issuance of any of such bonds, including any covenant for the establishment of reasonable reserve funds.

(Added to NRS by 1965, 640)—(Substituted in revision for NRS 244.807)

NRS 244A.064 Lending projects: Powers of county. In connection with any lending project, a county may:

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. Refund any county general obligations issued for a lending project if the county and the municipality agree to the disposition of any savings resulting from the refunding.

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.

NRS 244A.065 Construction and effect of County Bond Law.

1. No other act or law with regard to the authorization or issuance of bonds that requires an approval, or in any way impedes or restricts the carrying out of the acts herein authorized to be done, shall be construed as applying to any proceedings taken hereunder or acts done pursuant hereto, except as herein otherwise provided.