Nevada § 271.502 Assessments and other revenues pledged for payment of securities: Lien of pledge; priority; validity against third persons

Nevada Statutes

§ 271.502 — Assessments and other revenues pledged for payment of securities: Lien of pledge; priority; validity against third persons

Nevada § 271.502

Title 22COOPERATIVE AGREEMENTS BY PUBLIC AGENCIES; REGIONAL

Ch. 271Local

GENERAL PROCEDURE FOR LOCAL IMPROVEMENTS

This text of Nevada § 271.502 (Assessments and other revenues pledged for payment of securities: Lien of pledge; priority; validity against third persons) 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. § 271.502 (2026).

Text

1.The special assessments and any other revenues pledged for the payment of any securities, as received by or otherwise credited to the municipality, shall immediately be subject to the lien of each such pledge without any physical delivery thereof, any filing or further act.

2.The lien of each such pledge and the obligation to perform the contractual provisions made in the authorizing ordinance, resolution or other instrument appertaining thereto shall have priority over any or all other obligations and liabilities of the municipality, except as may be otherwise provided herein or in the ordinance, resolution or other instrument, and subject to the provisions of NRS 271.420 .

3.The lien of each such pledge shall be valid and binding, as against all persons having claims of any kind in

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1. The special assessments and any other revenues pledged for the payment of any securities, as received by or otherwise credited to the municipality, shall immediately be subject to the lien of each such pledge without any physical delivery thereof, any filing or further act.
2. The lien of each such pledge and the obligation to perform the contractual provisions made in the authorizing ordinance, resolution or other instrument appertaining thereto shall have priority over any or all other obligations and liabilities of the municipality, except as may be otherwise provided herein or in the ordinance, resolution or other instrument, and subject to the provisions of NRS 271.420 .
3. The lien of each such pledge shall be valid and binding, as against all persons having claims of any kind in tort, contract or otherwise against the municipality irrespective of whether such persons have notice thereof.