309.3395 - Alternative authority for issuing general obligation bonds or securities payable from general ad valorem taxes. - Nevada Statutes

309.3395  Alternative authority for issuing general obligation bonds or securities payable from general ad valorem taxes.

      1.  If the board of a district organized pursuant to the provisions of this chapter proposes to issue general obligation bonds or other general obligation securities that are payable from general ad valorem taxes, the board may do so, at its option, pursuant to:

      (a) NRS 309.332 to 309.339, inclusive; or

      (b) NRS 350.020 to 350.070, inclusive.

      2.  If the board of a district organized pursuant to the provisions of this chapter elects to exercise the option described in paragraph (b) of subsection 1:

      (a) The general obligation bonds or other general obligation securities must be secured additionally by a pledge of and lien on net revenues;

      (b) The general obligation bonds or other general obligation securities must be issued in compliance with NRS 350.020 to 350.070, inclusive; and

      (c) The provisions of NRS 309.333 to 309.336, inclusive, do not apply to the issuance or authorization of those general obligation bonds or other general obligation securities.

      (Added to NRS by 2007, 2884)