§ 349.328 — Interim debentures: Funding by reissuance of bonds pledged as collateral security; issuance of other bonds

Nevada § 349.328

• Jurisdiction: Nevada
• Title 30: PUBLIC BORROWING AND OBLIGATIONS
• Ch. 349: State

Text

1. For the purpose of funding any interim debentures, any bonds pledged as collateral security to secure the payment of such interim debentures, upon their surrender as pledged property, may be reissued without an election, and any bonds not previously issued but authorized to be issued, at an election in the case of general obligation bonds required by law so to be authorized, and otherwise merely by the Commission, for a purpose or purposes the same as or encompassing the purpose or purposes for which the interim debentures were issued, may be issued for such a funding.
2. Any such bonds shall mature at such time or times as the Commission may determine, except as otherwise provided in subsections 3 and 4 of NRS 349.276 .
3. Bonds for funding (including but not necessarily limited to any such reissued bonds) and bonds for any other purpose or purposes may be issued separately or issued in combination in one series or more.
4. Except as otherwise provided in NRS 349.322 to 349.328 , inclusive, any such funding bonds shall be issued as is provided herein for other bonds.

Legislative History

(Added to NRS by 1967, 790 ; A 1977, 36 )