STATE STATUTES & CODES

NEVADA STATUTES AND CODES

LOCAL GOVERNMENT SECURITIES LAW

• 350.500 - Short title.
• 350.502 - Purpose; supplemental nature.
• 350.504 - Definitions.
• 350.506 - “Acquisition” and “acquire” defined.
• 350.508 - “Chair” and “chair of the municipality” defined.
• 350.510 - “Clerk” defined.
• 350.512 - “Commercial bank” defined.
• 350.514 - “Condemnation” and “condemn” defined.
• 350.516 - “Cost of any project” defined.
• 350.517 - “Disposal” and “dispose” defined.
• 350.5175 - “Equip” and “equipment” defined.
• 350.518 - “Facilities” defined.
• 350.520 - “Federal Government” defined.
• 350.522 - “Federal securities” defined.
• 350.524 - “Governing body” defined.
• 350.526 - “Gross revenues” and “gross pledged revenues” defined.
• 350.528 - “Hereby,” “herein,” “hereinabove,” “hereinafter,” “hereinbefore,” “hereof,” “hereto,” “hereunder,” “heretofore” and “hereafter” defined.
• 350.530 - “Holder” defined.
• 350.532 - “Improvement” and “improve” defined.
• 350.534 - “Municipal” defined.
• 350.536 - “Municipal securities” and “securities” defined.
• 350.538 - “Municipality” defined.
• 350.540 - “Net revenues” and “net pledged revenues” defined.
• 350.542 - “Operation and maintenance expenses” defined.
• 350.544 - “Operation and maintenance expenses” limited.
• 350.546 - “Ordinance” defined.
• 350.550 - “Pledged revenues” defined.
• 350.552 - “Project” defined.
• 350.554 - “Public body” defined.
• 350.556 - “State” defined.
• 350.558 - “Taxation” defined.
• 350.560 - “Taxes” defined.
• 350.562 - “Treasurer” defined.
• 350.564 - “Trust bank” defined.
• 350.566 - “United States” defined.
• 350.568 - Powers of municipality in connection with projects.
• 350.569 - Power of eminent domain; reimbursement of public utility for removal and relocation.
• 350.570 - Power of municipality to become obligated and issue securities for project.
• 350.572 - Types of securities which may be issued; series.
• 350.573 - Sale of right to call for purchase of securities.
• 350.574 - Notes and warrants: Maturity; extension or funding.
• 350.575 - Resolution to finance preservation or restoration of historic structure; approval of Executive Director of Department of Taxation; appeal to Nevada Tax Commission.
• 350.5755 - Issuance of negotiable notes or bonds to finance restoration of historic structure; maturity; interest.
• 350.576 - Temporary bonds: Conditions, terms and provisions; holder’s rights and remedies.
• 350.578 - Ordinance authorizing issuance of securities: Description of purposes.
• 350.579 - Emergency ordinances: Adoption; effective date.
• 350.580 - General obligations: Types of securities.
• 350.582 - Special obligations: Types of securities.
• 350.583 - Variable rates of interest for securities; agreement with third party for assurance of payment for securities; reimbursement for advances made pursuant to agreement; issuance of securities a
• 350.5835 - Variable rates of interest: Exemption from limitations; conclusive findings of governing body that procedure for determination of rates is reasonable.
• 350.584 - Municipal securities payable from gross revenues: Covenant requiring appropriations to pay operation and maintenance expenses.
• 350.586 - Securities issued as general obligations constitute outstanding indebtedness.
• 350.588 - Securities issued as special obligations do not constitute outstanding indebtedness.
• 350.590 - Recitals required in municipal securities.
• 350.592 - Annual levy of special tax to pay interest on and retire securities issued as general obligations; proceeds of tax kept in two special funds; consolidated debt service fund.
• 350.594 - Time and duration of levy of special tax.
• 350.596 - Payment from general fund when taxes insufficient to pay amount due on securities issued as general obligations; reimbursement of general fund.
• 350.598 - Application of other available money to payment of interest on and principal of securities issued as general obligations.
• 350.602 - Proceeds of taxes specially appropriated to payment of principal and interest.
• 350.604 - Payment of municipal securities not to be secured by encumbrance, mortgage or pledge of municipality’s property; exception.
• 350.606 - Recourse against officers and agents of municipality: Acceptance of securities constitutes waiver and release.
• 350.608 - Covenants in ordinance authorizing issuance of special obligations impose no liability against municipality or its general credit.
• 350.610 - Faith of State pledged against repeal, amendment or modification of Local Government Securities Law.
• 350.614 - Details of municipal securities provided by ordinance.
• 350.616 - Sale or issuance of municipal securities.
• 350.628 - Recital in securities conclusive evidence of validity and regularity of issuance.
• 350.630 - Denomination, negotiability and maturity of municipal securities; rate of interest.
• 350.632 - Payment of principal, interest and premium when due without further order.
• 350.634 - Interest coupons.
• 350.636 - Execution, signing and authentication of municipal securities and coupons.
• 350.638 - Facsimile signatures and seals.
• 350.640 - Securities not invalid because signatories cease to fill offices.
• 350.642 - Adoption of facsimile signature of predecessor in office.  
• 350.644 - Redemption before maturity.
• 350.646 - Repurchase of municipal securities.
• 350.648 - Use of money received from issuance of municipal securities.
• 350.650 - Disposition of unexpended balance of proceeds after completion of project.
• 350.652 - Validity of securities not dependent on proceedings relating to project or completion of purpose; purchasers not responsible for application of proceeds.
• 350.654 - Special funds and accounts: Creation; purposes.
• 350.656 - Employment of legal and other expert services; contracts for sale and other purposes.
• 350.658 - Investment and reinvestment of revenues and proceeds of taxes and securities in federal securities and certain money market mutual funds.
• 350.659 - Investment and reinvestment of revenues and proceeds of taxes and certain securities in investment contract collateralized with federal securities by governing body in county whose populatio
• 350.660 - Covenants and other provisions in municipal securities.
• 350.662 - Pledged revenues received or credited subject to immediate lien; priority and validity of lien.
• 350.664 - Rights and powers of holders of municipal securities and trustees.
• 350.666 - Receivers: Appointment; powers and duties.
• 350.668 - Rights and remedies cumulative.
• 350.670 - Failure of holder to proceed does not relieve municipality, governing body and officers, agents and employees of municipality of liability for nonperformance of duties.
• 350.672 - Interim debentures: Issuance for general or special obligations.
• 350.674 - Issuance of municipal securities constituting debt to fund or refund special obligations not constituting indebtedness: Conditions; restrictions.
• 350.676 - Interim debentures: Maturity; use of proceeds; issuance.
• 350.678 - Interim debentures: Security for payment.
• 350.680 - Interim debentures: Extension and funding.
• 350.682 - Interim debentures: Funding by reissuance of bonds pledged as collateral security; issuance of other bonds.
• 350.684 - Refunding of general and special obligation bonds: Ordinance; trust indenture.
• 350.686 - Calls for prior redemption: Limitations.
• 350.688 - Exchange of outstanding securities held by State or its agencies for funding or refunding.
• 350.690 - Refunding of outstanding securities evidencing long-term loans.
• 350.692 - Refunding bonds: Sale or exchange for outstanding bonds; exchange for federal securities.
• 350.694 - Conditions for refunding bonds.
• 350.696 - Refunding bonds: Disposition of proceeds, accrued interest and premium; costs; escrow; trusts.
• 350.698 - Proceeds of refunding bonds in escrow or trust: Investment; security; sufficient amount; purchaser not responsible for application of proceeds.
• 350.700 - Refunding bonds payable from taxes or pledged revenues.
• 350.702 - Issuance of bonds separately or in combination.
• 350.704 - Bonds of abolished municipalities may be refunded.
• 350.706 - Other statutory provisions applicable to refunding bonds.
• 350.708 - Conclusive determination of governing body that statutory limitations have been met.
• 350.710 - Bonds and other securities exempt from taxation; exception.
• 350.712 - Securities issued as general obligations are legal investments for state money.
• 350.714 - Legal investments for other persons.
• 350.718 - Sufficiency of Local Government Securities Law.

Tips