396.868 - Interim debentures: Maturity; use of proceeds; issuance. - Nevada Statutes

396.868  Interim debentures: Maturity; use of proceeds; issuance.

      1.  Any interim debentures may mature at such time or times not exceeding a period of time equal to the estimated time needed to effect the purpose or purposes for which they are issued or for which the bonds are authorized to be issued, but not exceeding 5 years from the date of the interim debentures, as the Board may determine.

      2.  The proceeds of interim debentures shall be used to defray the cost of the project appertaining thereto.

      3.  Any notes or warrants or both notes and warrants may be funded with the proceeds of interim debentures, as well as with the proceeds of bonds.

      4.  Except as otherwise provided in NRS 396.868 to 396.871, inclusive, interim debentures shall be issued as provided herein for Board or University securities in NRS 396.839 to 396.867, inclusive, and 396.880 to 396.885, inclusive.

      (Added to NRS by 1967, 18; A 1969, 1602; 1975, 874)