reglab/housing_qa huggingface dataset:
NV Rev Stat § 268.524 (2021)
2021 Nevada Revised Statutes|Chapter 268 - Powers and Duties Common to Cities and Towns Incorporated Under General or Special Laws|NRS 268.524 - Legislative intent.

It is the intent of the Legislature to authorize cities to finance, acquire, own, lease, improve and dispose of properties to:  1. Promote industry and employment and develop trade by inducing manufacturing, industrial, warehousing and other commercial enterprises and organizations for research and development to locate in, remain or expand in this State to further prosperity throughout the State and to further the use of the agricultural products and the natural resources of this State.  2. Enhance public safety by protecting hotels, motels, apartment buildings, casinos, office buildings and their occupants from fire.  3. Protect the health, safety and welfare of the public and promote private industry, commerce and employment in this State by:  (a) Reducing, abating or preventing pollution or removing or treating any substance in processed material which would cause pollution; and  (b) Furnishing energy, including electricity to the public, if available on reasonable demand, and providing facilities to transmit electricity for sale outside the State.  4. Promote the health of residents of the city by enabling a private enterprise to acquire, develop, expand and maintain health and care facilities and supplemental facilities for health and care facilities which will provide services of high quality to those residents at reasonable rates.  5. Promote the social welfare of the residents of the city by enabling corporations for public benefit to acquire, develop, expand and maintain facilities that provide services for those residents.  6. Promote the social welfare of the residents of the city by financing the acquisition, development, construction, improvement, expansion and maintenance of affordable housing in the city.  (Added to NRS by 1967, 1752; A 1977, 591; 1981, 390, 1623; 1985, 2083; 1993, 1477)
NV Rev Stat § 268.525 (2021)
2021 Nevada Revised Statutes|Chapter 268 - Powers and Duties Common to Cities and Towns Incorporated Under General or Special Laws|NRS 268.525 - Exercise of powers by city; liberal construction.

  1. Each city is vested with all the powers necessary to accomplish the purposes set forth in NRS 268.524, but these powers must be exercised for the health, safety and welfare of the inhabitants of this state.  2. NRS 268.512 to 268.568, inclusive, must be liberally construed in conformity with the purposes set forth in NRS 268.524.  (Added to NRS by 1985, 2082)
NV Rev Stat § 268.526 (2021)
2021 Nevada Revised Statutes|Chapter 268 - Powers and Duties Common to Cities and Towns Incorporated Under General or Special Laws|NRS 268.526 - General powers.

In addition to any other powers which it may now have, each city shall have the following powers:  1. To finance or acquire, whether by construction, purchase, gift, devise, lease or sublease, or any one or more of such methods, and to improve and equip one or more projects, or part thereof. Such projects, upon completion of such acquisition, shall be located within, or within 10 miles of, the city.  2. To finance, sell, lease or otherwise dispose of any or all of its projects upon such terms and conditions as the governing body considers advisable.  3. To issue revenue bonds for the purpose of financing or defraying the cost of acquiring, improving and equipping any project as set forth in NRS 268.556.  4. To secure payment of such bonds as provided in NRS 268.512 to 268.568, inclusive, including, without limitation, from the proceeds of the surcharge imposed pursuant to NRS 244A.830.  5. To take such actions as are necessary or useful in order to undertake, carry out, accomplish and otherwise implement the provisions of NRS 268.512 to 268.568, inclusive, including the adoption of resolutions, which may be introduced and adopted at the same special or regular meeting of the governing body and which shall become effective upon adoption.  (Added to NRS by 1967, 1753; A 1977, 592; 2001, 2078; 2011, 3332)
NV Rev Stat § 268.527 (2021)
2021 Nevada Revised Statutes|Chapter 268 - Powers and Duties Common to Cities and Towns Incorporated Under General or Special Laws|NRS 268.527 - Restrictions on powers of city.

A city may not, under NRS 268.512 to 268.568, inclusive:  1. Operate any manufacturing, industrial, warehousing or other commercial enterprise or any organization for research and development to which it provided assistance; or  2. Assist any manufacturing, industrial, warehousing or other commercial enterprise or any organization for research and development to locate within the city or within 10 miles of the city which would compete substantially with an enterprise or organization already established in the city or the county in which the city is located. The provisions of this subsection do not apply to:  (a) Health and care facilities;  (b) Supplemental facilities for health and care;  (c) Enterprises located in a redevelopment area created under the provisions of chapter 279 of NRS;  (d) Facilities established by corporations for public benefit; and  (e) Affordable housing.  (Added to NRS by 1985, 2082; A 1993, 1478)
NV Rev Stat § 268.528 (2021)
2021 Nevada Revised Statutes|Chapter 268 - Powers and Duties Common to Cities and Towns Incorporated Under General or Special Laws|NRS 268.528 - Notice and public hearing by governing body.

Before availing itself of the powers conferred by NRS 268.526 with respect to any project, a governing body shall:  1. Give notice of its intention by publication at least once in a newspaper of general circulation published in the city, or if there is not such newspaper then in a newspaper of general circulation in the city published in the State; and  2. Hold at least one public hearing, not less than 10 nor more than 20 days after the date of publication of the notice.  (Added to NRS by 1967, 1753)
NV Rev Stat § 268.532 (2021)
2021 Nevada Revised Statutes|Chapter 268 - Powers and Duties Common to Cities and Towns Incorporated Under General or Special Laws|NRS 268.532 - Bonds to be special obligations.

  1. All bonds issued by a city under the authority of NRS 268.512 to 268.568, inclusive, shall be special, limited obligations of the city. The principal of and interest on such bonds shall be payable, subject to the security provisions herein, solely out of the revenues derived from the financing, leasing or sale of the project to be financed by the bonds.  2. The bonds and interest coupons, if any, appurtenant thereto shall never constitute the debt or indebtedness of the city within the meaning of any provision or limitation of the Constitution of the State of Nevada or statutes, and shall not constitute nor give rise to a pecuniary liability of the city or a charge against its general credit or taxing powers. Such limitation shall be plainly stated on the face of each such bond.  (Added to NRS by 1967, 1753; A 1977, 593)
NV Rev Stat § 268.534 (2021)
2021 Nevada Revised Statutes|Chapter 268 - Powers and Duties Common to Cities and Towns Incorporated Under General or Special Laws|NRS 268.534 - Bonds: Form; terms; variable rate of interest; sale.

  1. The bonds must:  (a) Be authorized by resolution;  (b) Be in such denominations;  (c) Bear such date or dates;  (d) Mature at such time or times not exceeding 40 years from their respective dates;  (e) Be in such form;  (f) Carry such registration privileges;  (g) Be executed in such manner;  (h) Be payable at such place or places within or without the State; and  (i) Be subject to such terms of redemption,  as the authorizing resolution may provide.  2. The resolution may fix a rate or rates of interest, or provide for the determination of the rate or rates from time to time by a designated agent according to a specified standard and procedure.  3. The bonds may be sold in one or more series at par, or below or above par, in such manner and for such price or prices as the city determines. As an incidental expense of the project, the city may employ financial and legal consultants in regard to the financing of the project.  4. The bonds are fully negotiable under the terms of the Uniform Commercial Code — Investment Securities.  (Added to NRS by 1967, 1754; A 1971, 2099; 1975, 844; 1977, 594; 1981, 392; 1985, 2)
NV Rev Stat § 268.536 (2021)
2021 Nevada Revised Statutes|Chapter 268 - Powers and Duties Common to Cities and Towns Incorporated Under General or Special Laws|NRS 268.536 - Security.

The principal of, the interest on and any prior redemption premiums due in connection with the bonds shall be payable from, secured by a pledge of, and constitute a lien on the revenues out of which such bonds shall be made payable. In addition, they may, in the discretion of the city, be secured by:  1. A mortgage covering all or any part of the project, or upon any other property of the lessee, purchaser or obligor, or by a pledge of the lease, the agreement of sale or the financing agreement with respect to such project, or both.  2. A pledge of one or more notes, debentures, bonds or other secured or unsecured debt obligations of the obligor.  3. No city is authorized to pledge any of its property or otherwise secure the payment of any bonds with its property, except that the city may pledge the property of the project or the revenues therefrom.  (Added to NRS by 1967, 1754; A 1977, 594)
NV Rev Stat § 268.538 (2021)
2021 Nevada Revised Statutes|Chapter 268 - Powers and Duties Common to Cities and Towns Incorporated Under General or Special Laws|NRS 268.538 - Terms of resolution and instruments.

The resolution under which the bonds are authorized to be issued, and any indenture or mortgage given to secure the same, may contain any provisions customarily contained in instruments securing bonds and constituting a covenant with the bondholders, including, but not limited to:  1. Custody of the proceeds from the sale of the bonds, including their investment and reinvestment until used to defray the cost of the project.  2. The fixing and collection of payments, with respect to the project to be made under the lease, the agreement of sale or the financing agreement.  3. The terms to be incorporated in the lease, the agreement of sale or the financing agreement with respect to the project.  4. The maintenance and insurance of the project.  5. The creation of funds and accounts into which any bond proceeds, revenues and income may be deposited or credited.  6. Limitation on the purpose to which the proceeds of any bonds then or thereafter to be issued may be applied.  7. Limitations on the issuance of additional bonds, the terms upon which additional bonds may be issued and secured, the refunding of bonds and the replacement of bonds.  8. The procedure, if any, by which the terms of any contract with bondholders may be amended or abrogated.  9. Vesting in a trustee or trustees located within or without this state such properties, rights, powers and duties in trust as the governing body may determine, and limiting the rights, duties and powers of such trustees.  10. The rights and remedies available in case of a default to the bondholders or to any trustee under the lease, agreement of sale, financing agreement, indenture or a mortgage.  (Added to NRS by 1967, 1754; A 1977, 595)
NV Rev Stat § 268.5385 (2021)
2021 Nevada Revised Statutes|Chapter 268 - Powers and Duties Common to Cities and Towns Incorporated Under General or Special Laws|NRS 268.5385 - Issuance by governing body of city of bonds for project for affordable housing or residential housing for corporation for public benefit: Requirements.

The governing body of a city may approve the issuance of bonds for a project for affordable housing or for any form of residential housing for the purposes of a corporation for public benefit only if:  1. The amount of the bonds to be issued is less than $15,000,000;  2. An independent consultant hired by the governing body has reported favorably on the financial feasibility of the project;  3. The bonds will be sold to not more than 10 investors, each of whom certifies that he or she:  (a) Has a net worth of $500,000 or more; and  (b) Is purchasing the bonds for investment and not for resale; and  4. The issuance of the bonds is approved by the State Board of Finance, unless the amount of the bonds to be issued is $5,000,000 or less.  (Added to NRS by 1993, 1476)
NV Rev Stat § 268.539 (2021)
2021 Nevada Revised Statutes|Chapter 268 - Powers and Duties Common to Cities and Towns Incorporated Under General or Special Laws|NRS 268.539 - Issuance by Director of Department of Business and Industry of bonds for governing body as special obligations of State.

  1. The governing body may exercise its power to issue bonds and to redeem them by requesting the Director of the Department of Business and Industry to issue bonds to finance any project for which bonds could be issued pursuant to NRS 268.512 to 268.568, inclusive.  2. If the Director believes that the bonds are marketable under the terms set forth in the resolution of the governing body requesting their issuance, the Director may proceed to issue them as special obligations of the State, secured only by the revenues, mortgage or pledge specified in the resolution.  3. The Director may receive and disburse the revenues of each project for which the Director has issued bonds, and may charge from those revenues, or directly to the city if those revenues are not sufficient, a reasonable compensation for his or her services. The Director may exercise any power which the governing body would have to collect payments due from the obligor.  (Added to NRS by 1981, 1622; A 1993, 1547)
NV Rev Stat § 268.540 (2021)
2021 Nevada Revised Statutes|Chapter 268 - Powers and Duties Common to Cities and Towns Incorporated Under General or Special Laws|NRS 268.540 - Investments and bank deposits.

  1. Unless prohibited by its charter, the city may provide that proceeds from the sale of bonds and special funds from the revenues of the project be invested and reinvested in such securities and other investments, whether or not any such investment or reinvestment is authorized under any other law of this state, as provided in the proceedings under which the bonds are authorized to be issued, including, but not limited to:  (a) Bonds or other obligations of the United States of America.  (b) Bonds or other obligations, the payment of the principal and interest of which is unconditionally guaranteed by the United States of America.  (c) Obligations issued or guaranteed as to principal and interest by any agency or person controlled or supervised by and acting as an instrumentality of the United States of America pursuant to authority granted by the Congress of the United States of America.  (d) Obligations issued or guaranteed by any state of the United States of America, or any political subdivision of any such state.  (e) Prime commercial paper.  (f) Prime finance company paper.  (g) Bankers’ acceptances drawn on and accepted by commercial banks.  (h) Repurchase agreements fully secured by obligations issued or guaranteed as to principal and interest by the United States of America or by any person controlled or supervised by and acting as an instrumentality of the United States of America pursuant to authority granted by the Congress of the United States of America.  (i) Certificates of deposit issued by credit unions or commercial banks, including banks domiciled outside of the United States of America.  (j) Money market mutual funds that:  (1) Are registered with the Securities and Exchange Commission;  (2) Are rated by a nationally recognized rating service as "AAA" or its equivalent; and  (3) Invest only in securities issued or guaranteed as to payment of principal and interest by the Federal Government, or its agencies or instrumentalities, or in repurchase agreements that are fully collateralized by the securities.  2. The city may also provide that such proceeds or funds or investments and the payments payable under the lease, the agreement of sale or the financing agreement be received, held and disbursed by one or more banks, credit unions or trust companies located within or out of this state.  (Added to NRS by 1967, 1755; A 1977, 595; 1985, 1307; 1997, 2871; 1999, 1465)
NV Rev Stat § 268.542 (2021)
2021 Nevada Revised Statutes|Chapter 268 - Powers and Duties Common to Cities and Towns Incorporated Under General or Special Laws|NRS 268.542 - Construction of project.

The city may also provide that:  1. The project and improvements to be constructed, if any, shall be constructed by the city, lessee or the lessee’s designee, purchaser or purchaser’s designee, obligor or obligor’s designee, or any one or more of them on real estate owned by the city, the lessee or the lessee’s designee, or the purchaser or the purchaser’s designee, or the obligor or the obligor’s designee, as the case may be.  2. The bond proceeds shall be disbursed by the trustee bank or banks, trust company or trust companies, during construction upon the estimate, order or certificate of the lessee or the lessee’s designee or of the purchaser or the purchaser’s designee, or of the obligor or the obligor’s designee.  (Added to NRS by 1967, 1755; A 1977, 596)
NV Rev Stat § 268.544 (2021)
2021 Nevada Revised Statutes|Chapter 268 - Powers and Duties Common to Cities and Towns Incorporated Under General or Special Laws|NRS 268.544 - Limitation on city’s obligation.

In making such agreements or provisions, a city shall not obligate itself, except with respect to the project and the application of the revenues therefrom and bond proceeds therefor.  (Added to NRS by 1967, 1756)
NV Rev Stat § 268.546 (2021)
2021 Nevada Revised Statutes|Chapter 268 - Powers and Duties Common to Cities and Towns Incorporated Under General or Special Laws|NRS 268.546 - Rights upon default.

  1. The resolution authorizing any bonds or any indenture or mortgage securing such bonds may provide that if there is a default in the payment of the principal of, the interest on, or any prior redemption premiums due in connection with the bonds or in the performance of any agreement contained in such resolution, indenture or mortgage, the payment and performance may be enforced by mandamus or by the appointment of a receiver with power to charge, collect and apply the revenues from the project in accordance with the resolution or the provisions of the indenture or mortgage.  2. Any mortgage to secure bonds issued thereunder, may also provide that if there is a default in the payment thereof or a violation of any agreement contained in the mortgage, it may be foreclosed and there may be a sale in any manner permitted by law. Such mortgage may also provide that any trustee under such mortgage or the holder of any bonds secured thereby may become the purchaser at any foreclosure sale if he or she is the highest bidder and may apply toward the purchase price unpaid bonds at the face value thereof.  (Added to NRS by 1967, 1756; A 1977, 596)
NV Rev Stat § 268.548 (2021)
2021 Nevada Revised Statutes|Chapter 268 - Powers and Duties Common to Cities and Towns Incorporated Under General or Special Laws|NRS 268.548 - Determination of costs of financing.

  1. Before the initial leasing, sale or financing of any project, the governing body shall by resolution determine:  (a) The amount, or reasonably anticipated range of amounts, necessary in each year to pay the principal of and the interest on the first bonds proposed to be issued to finance the project and on any subsequent issues of bonds which may be permitted under the lease, sale or financing and authorizing resolutions pertinent to financings hereunder.  (b) The amount necessary to be paid each year into any reserve funds which the governing body may deem advisable to establish in connection with the retirement of the proposed bonds and the maintenance of the project.  (c) The estimated cost of maintaining the project in good repair and keeping it properly insured, unless the terms under which the project is to be leased, sold or financed provide that the lessee, purchaser or obligor shall maintain the project and carry all proper insurance with respect thereto.  2. The determination and findings of the governing body, as required by subsection 1, must be set forth in the resolution under which the proposed bonds are to be issued, but those amounts need not be expressed in dollars and cents in the lease, agreement of sale or financing agreement and the resolution under which the bonds are to be issued, but may be set forth in the form of a formula.  (Added to NRS by 1967, 1756; A 1977, 596; 1985, 3)
NV Rev Stat § 268.550 (2021)
2021 Nevada Revised Statutes|Chapter 268 - Powers and Duties Common to Cities and Towns Incorporated Under General or Special Laws|NRS 268.550 - Lease, sale or financing of project.

Prior to the issuance of any bonds authorized by NRS 268.512 to 268.568, inclusive, the city shall lease, sell or finance the project under an agreement conditioned upon completion of the project and providing for payment to the city of such revenues as, upon the basis of such determinations and findings, will be sufficient to:  1. Pay the principal of and interest on the bonds issued to finance the project.  2. Build up and maintain any reserves deemed advisable by the governing body in connection therewith.  3. Pay the costs of maintaining the project in good repair and keeping it properly insured, unless the lease, agreement of sale or financing agreement obligates the lessee, purchaser or obligor to pay for the maintenance and insurance on the project.  (Added to NRS by 1967, 1756; A 1977, 597)
NV Rev Stat § 268.552 (2021)
2021 Nevada Revised Statutes|Chapter 268 - Powers and Duties Common to Cities and Towns Incorporated Under General or Special Laws|NRS 268.552 - Option to purchase.

  1. If the project is to be leased, the lease may grant the lessee an option to purchase all or a part of the project at a stipulated purchase price or prices or at a price or prices to be determined upon appraisal as provided in the lease.  2. The option may be exercised at such time or times as the lease may provide.  3. The city and the lessee may agree and provide in the lease that all or a part of the rentals paid by the lessee prior to and at the time of the exercise of such option shall be applied toward such purchase price and shall be in full or partial satisfaction thereof.  (Added to NRS by 1967, 1757; A 1977, 597)