Nevada § 268.550 Lease, sale or financing of project

Nevada Statutes

§ 268.550 — Lease, sale or financing of project

Nevada § 268.550

Title 21CITIES AND TOWNS

Ch. 268Powers

CITY ECONOMIC DEVELOPMENT REVENUE BOND LAW

This text of Nevada § 268.550 (Lease, sale or financing of project) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 268.550 (2026).

Text

Prior to the issuance of any bonds authorized by NRS 268.512 to 268.568, inclusive, the city shall lease, sell or finance the project under an agreement conditioned upon completion of the project and providing for payment to the city of such revenues as, upon the basis of such determinations and findings, will be sufficient to:

1.Pay the principal of and interest on the bonds issued to finance the project.

2.Build up and maintain any reserves deemed advisable by the governing body in connection therewith.

3.Pay the costs of maintaining the project in good repair and keeping it properly insured, unless the lease, agreement of sale or financing agreement obligates the lessee, purchaser or obligor to pay for the maintenance and insurance on the project.

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Prior to the issuance of any bonds authorized by NRS 268.512 to 268.568, inclusive, the city shall lease, sell or finance the project under an agreement conditioned upon completion of the project and providing for payment to the city of such revenues as, upon the basis of such determinations and findings, will be sufficient to:
1. Pay the principal of and interest on the bonds issued to finance the project.
2. Build up and maintain any reserves deemed advisable by the governing body in connection therewith.
3. Pay the costs of maintaining the project in good repair and keeping it properly insured, unless the lease, agreement of sale or financing agreement obligates the lessee, purchaser or obligor to pay for the maintenance and insurance on the project.