271.475 - Bonds: Power to issue; adoption and effective date of ordinance. - Nevada Statutes

271.475  Bonds: Power to issue; adoption and effective date of ordinance.

      1.  The governing body shall likewise have power to issue negotiable bonds in an amount not exceeding the total unpaid assessments levied to pay the cost of any project, howsoever acquired, as hereinafter provided.

      2.  Any ordinance pertaining to the sale, issuance or payment of bonds or other securities of the municipality, or any combination thereof, may:

      (a) Be adopted as if an emergency existed. The declaration of the governing body, if any, is conclusive in the absence of fraud or gross abuse of discretion.

      (b) Become effective at any time when an emergency ordinance of the municipality may go into effect.

      (c) Be adopted by not less than two-thirds of all of the voting members of the governing body, excluding from any such computation any vacancy on the governing body and any member thereon who may vote only to break a tie vote.

      (Added to NRS by 1965, 1373; A 1975, 848; 2001, 444)