244A.731 - Lease, sale or financing of project. - Nevada Statutes

244A.731  Lease, sale or financing of project.  Except as otherwise provided for bonds issued to finance preliminaries to or any costs connected with a project for the generation and transmission of electricity, before issuing any bonds authorized by NRS 244A.669 to 244A.763, inclusive, the county shall lease, sell or finance the project under an agreement conditioned upon completion of the project and providing for payment to the county of such revenues as, upon the basis of such determinations and findings, will be sufficient to:

      1.  Pay the principal of and interest on the bonds issued to finance the project.

      2.  Build up and maintain any reserves deemed advisable by the board in connection therewith.

      3.  Pay the costs of maintaining the project in good repair and keeping it properly insured, unless the lease, agreement of sale or financing agreement obligates the lessee, purchaser or obligor to pay for the maintenance and insurance on the project.

      (Added to NRS by 1967, 1749; A 1973, 971; 1975, 432; 1979, 689)