Nevada § 319.350 Bond reserve funds: Limitations

Nevada Statutes

§ 319.350 — Bond reserve funds: Limitations

Nevada § 319.350

Title 25PUBLIC ORGANIZATIONS FOR COMMUNITY SERVICE

Ch. 319Assistance

ISSUANCE OF NOTES, BONDS AND OTHER OBLIGATIONS

This text of Nevada § 319.350 (Bond reserve funds: Limitations) 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. § 319.350 (2026).

Text

The Division shall not at any time 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 Division 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 Division authorizing the bonds with respect to which the fund is established, necessary to provide adequate reserves for debt service on the bonds.

Free access — add to your briefcase to read the full text and ask questions with AI

The Division shall not at any time 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 Division 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 Division authorizing the bonds with respect to which the fund is established, necessary to provide adequate reserves for debt service on the bonds.