Nevada § 350.604 Payment of municipal securities not to be secured by encumbrance, mortgage or pledge of municipality’s property; exception

Nevada Statutes

§ 350.604 — Payment of municipal securities not to be secured by encumbrance, mortgage or pledge of municipality’s property; exception

Nevada § 350.604

Title 30PUBLIC BORROWING AND OBLIGATIONS

Ch. 350Municipal

LOCAL GOVERNMENT SECURITIES LAW

This text of Nevada § 350.604 (Payment of municipal securities not to be secured by encumbrance, mortgage or pledge of municipality’s property; exception) 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. § 350.604 (2026).

Text

1. Except as otherwise provided in subsection 2:

(a)The payment of municipal securities may not be secured by an encumbrance, mortgage or other pledge of property of the municipality; and

(b)No property of the municipality is liable to be forfeited or taken in payment of the securities. 2. The payment of municipal securities may be secured by pledged revenues, proceeds of taxes and any other money pledged for the payment of the securities. A municipality may encumber, mortgage or otherwise pledge property purchased from the proceeds of a loan to secure repayment of that loan.

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1. Except as otherwise provided in subsection 2:
(a) The payment of municipal securities may not be secured by an encumbrance, mortgage or other pledge of property of the municipality; and
(b) No property of the municipality is liable to be forfeited or taken in payment of the securities.
2. The payment of municipal securities may be secured by pledged revenues, proceeds of taxes and any other money pledged for the payment of the securities. A municipality may encumber, mortgage or otherwise pledge property purchased from the proceeds of a loan to secure repayment of that loan.