277.075 - Prerequisites to borrowing from issuer or becoming obligated for facility. - Nevada Statutes

277.075  Prerequisites to borrowing from issuer or becoming obligated for facility.  A borrowing local government may not borrow money from an issuer or become obligated on a lease or agreement for an installment purchase for a facility financed by revenue securities unless the borrowing local government:

      1.  Has the authority to borrow money or enter into a lease or agreement for an installment purchase for the facility being financed with the revenue securities; and

      2.  Has followed the procedure required by law to borrow money or enter into a lease or an agreement for an installment purchase.

      (Added to NRS by 1987, 1621)

      NRS 277.0755  Application of Local Government Securities Law.  The provisions of the Local Government Securities Law apply to revenue securities issued pursuant to NRS 277.0745 to the extent that they are consistent with the provisions of NRS 277.0705 to 277.075, inclusive.

      (Added to NRS by 1987, 1621)