539.447 - Sale of securities; deposit of proceeds in improvement district fund. - Nevada Statutes

539.447  Sale of securities; deposit of proceeds in improvement district fund.

      1.  Upon confirmation by the district court of the proceedings in respect to such local improvement, including all assessments of benefits, and upon the approval of the Department of Taxation and the certification of the State Controller, as provided for in NRS 539.640 to 539.665, inclusive, the board of directors shall negotiate the sale of the securities so authorized in the manner prescribed in this chapter for the sale of district bonds.

      2.  The proceeds of the sale shall be deposited in a special fund to be designated Improvement District No. ........ Fund, and thereupon the board of directors shall proceed with the improvement.

      [Part 49 1/2:64:1919; added 1923, 289; A 1929, 286; NCL § 8066]—(NRS A 1977, 1237)