§ 338.1594 — Financing

Nevada § 338.1594

• Jurisdiction: Nevada
• Title 28: PUBLIC WORKS AND PLANNING
• Ch. 338: Public

Text

1. A transportation facility may be financed, in whole or in part, with money from any lawful source, including, without limitation:
(a) Any public or private funding, loan, grant, line of credit, loan guarantee, credit instrument, private activity bond allocation, grant anticipation revenue bond, credit assistance from the government of this State or the Federal Government or other type of assistance that is available for the purposes of the transportation facility.
(b) Any grant, donation, gift or other form of conveyance of land, money, other real or personal property or other thing of value made to the public body for the purposes of the transportation facility.
(c) A contribution of money or property made by any private entity or public sector partner that is a party to any agreement entered into pursuant to NRS 338.158 to 338.1602 , inclusive.
(d) Money appropriated for the transportation facility by the State or by the public body.
(e) User fees, lease proceeds, rents, availability payments, gross or net receipts from sales, proceeds from the sale of development rights, franchise charges, permit charges, rents, advertising and sponsorship charges, service charges or any other lawful form of consideration.
(f) Private activity bonds as described in 26 U.S.C. § 141.
(g) Any other form of public or private capital that is available for the purposes of the transportation facility.
(h) Any combination of paragraphs (a) to (g), inclusive.
2. If a public body, in accordance with applicable law, issues a note, bond or other debt obligation to finance a transportation facility that is expected to generate revenue of any kind, the revenue from the transportation facility may be pledged as security for the payment of the obligation, but the bonds or notes are special, limited obligations of the public body payable solely from the revenues specifically pledged to the payment of those obligations, as specified in the resolution for the issuance of the bonds or notes, and do not create a debt of the State for the purposes of Section 3 of Article 9 of the Nevada Constitution.
3. Any financing issued by a public body pursuant to this section may be structured on a senior, parity or subordinate basis to any other financing.
4. A public body may issue revenue bonds or notes to provide money for any transportation facility.

Legislative History

(Added to NRS by 2017, 3199 )