309.331 - District’s power to borrow money as general or special obligation of district. - Nevada Statutes

309.331  District’s power to borrow money as general or special obligation of district.

      1.  Any district heretofore or hereafter organized pursuant to the provisions of this chapter has the power to borrow money either as a general obligation of the district or as a special obligation of the district, to evidence the same and to apply the proceeds thereof as hereinafter provided in NRS 309.332 to 309.339, inclusive. NRS 309.332 to 309.339, inclusive, without reference to other parts of this chapter, except as otherwise expressly provided in NRS 309.332 to 309.339, inclusive, constitute full authority for the exercise of the powers therein granted and shall be deemed to constitute a mode of financing and making improvements additional to and separate from all other methods and procedures. Without limiting the generality of the foregoing, such financing must take place without adherence to the following provisions: NRS 309.050 to 309.110, inclusive, subsection 3 of NRS 309.130 and NRS 309.170 to 309.330, inclusive.

      2.  The provisions of this section do not prohibit the board of a district organized pursuant to the provisions of this chapter from exercising the option to issue general obligation bonds or other general obligation securities in accordance with NRS 350.020 to 350.070, inclusive, as described in NRS 309.3395.

      (Added to NRS by 1964, 13; A 1971, 430; 2007, 2884)