Nevada § 315.99862 Notes, bonds and other obligations: Limitations on bond reserve funds

Nevada Statutes

§ 315.99862 — Notes, bonds and other obligations: Limitations on bond reserve funds

Nevada § 315.99862

Title 25PUBLIC ORGANIZATIONS FOR COMMUNITY SERVICE

Ch. 315Housing

Financing

This text of Nevada § 315.99862 (Notes, bonds and other obligations: Limitations on bond reserve funds) 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. § 315.99862 (2026).

Text

The Authority shall not at any time pursuant to NRS 315.9981 to 315.99874, inclusive, issue bonds, secured in whole or in part by a bond reserve fund, if upon the issuance of those bonds, the amount in that bond reserve fund will be less than the bond reserve fund requirement for that fund, unless the Authority at the time of issuance of those bonds deposits in that fund from the proceeds of the bonds issued, or from other sources, an amount which, together with the amount then in that fund, will not be less than the bond reserve fund requirement for that fund. The bond reserve fund requirement, as of any particular date of computation, is an amount of money, specified in the proceedings of the Authority authorizing the bonds with respect to which the fund is established, necessary to prov

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The Authority shall not at any time pursuant to NRS 315.9981 to 315.99874, inclusive, issue bonds, secured in whole or in part by a bond reserve fund, if upon the issuance of those bonds, the amount in that bond reserve fund will be less than the bond reserve fund requirement for that fund, unless the Authority at the time of issuance of those bonds deposits in that fund from the proceeds of the bonds issued, or from other sources, an amount which, together with the amount then in that fund, will not be less than the bond reserve fund requirement for that fund. The bond reserve fund requirement, as of any particular date of computation, is an amount of money, specified in the proceedings of the Authority authorizing the bonds with respect to which the fund is established, necessary to provide adequate reserves for debt service on the bonds.