318.275 - Forms of borrowing; approval of debt management commission. - Nevada Statutes

318.275  Forms of borrowing; approval of debt management commission.

      1.  Upon the conditions and under the circumstances set forth in this chapter, a district may borrow money and issue the following securities to evidence such borrowing:

      (a) Short-term notes, warrants and interim debentures.

      (b) General obligation bonds.

      (c) Revenue bonds.

      (d) Special assessment bonds.

      2.  The board of trustees of a district whose population within its boundaries is less than 5,000, shall not borrow money or issue securities to evidence such borrowing unless the board has obtained the approval of the debt management commission of the county in which the district is located.

      3.  The board of trustees of a district whose population within its boundaries is less than 5,000, shall not forward a resolution authorizing medium-term obligations to the Executive Director of the Department of Taxation unless such financing is approved by the commission.

      (Added to NRS by 1959, 469; A 1967, 1704; 1977, 534; 1991, 972; 1995, 771; 1997, 555)