§ 350.550 — “Pledged revenues” defined

Nevada § 350.550

• Jurisdiction: Nevada
• Title 30: PUBLIC BORROWING AND OBLIGATIONS
• Ch. 350: Municipal

Text

“Pledged revenues” means the moneys pledged wholly or in part for the payment of bonds or other municipal securities issued in accordance with the provisions of the Local Government Securities Law, and, subject to any existing pledges or other contractual limitations:
1. May include at the governing body’s discretion moneys derived from one, all or any combination of revenue resources appertaining to any facilities, including without limitation use and service charges, rents, fees and any other income derived from the operation or ownership of, from the use or services of, or from the availability of or services appertaining to, the lease of, any sale or other disposal of, any contract or other arrangement, or otherwise derived in connection with any facilities or all or any part of any property appertaining to any facilities;
2. May so include all loans, grants, or contributions to the municipality, if any, conditional or unconditional, from the Federal Government, the State or any public body for the payment of the principal of, the interest on, and any prior redemption premiums due in connection with any municipal securities issued hereunder, or any combination thereof; and
3. May so include the proceeds of any excise taxes levied and collected by the municipality or otherwise received by it and authorized by law (other than the Local Government Securities Law) to be pledged for the payment of municipal securities issued in accordance with the provisions of the Local Government Securities Law, but excluding the proceeds of any taxes as defined in NRS 350.560 .

Legislative History

(Added to NRS by 1967, 425 ; A 1971, 2115 )