396.850 - Details of securities provided by resolution. - Nevada Statutes

396.850  Details of securities provided by resolution.  Except as herein otherwise provided and as otherwise provided in any other act the provisions of which are relevant by express reference herein thereto, any securities issued hereunder must be:

      1.  In such form;

      2.  Issued in such manner, at, above or below par at such a discount not exceeding 9 percent of the principal amount of the securities, at public or private sale, and at a price which will result in an effective interest rate which does not exceed by more than 3 percent the Index of Revenue Bonds which was most recently published before the bids are received or a negotiated offer is accepted; and

      3.  Issued with such recitals, terms, covenants, conditions and other provisions,

Ê as may be provided by the Board in a resolution authorizing their issuance and in any indenture or other proceedings appertaining thereto.

      (Added to NRS by 1967, 10; A 1969, 1298; 1971, 2120; 1975, 873; 1981, 1416; 1983, 584)