reglab/statecodes huggingface dataset:
2023 Nevada Revised Statutes › Chapter 318A - Parks, Trails and Open Space Districts › NRS 318A.490 - Forms of borrowing; approval of debt management commission required for borrowing by certain districts.

1. Upon the conditions and under the circumstances set forth in this chapter, a district may borrow money and issue the following securities to evidence such borrowing:
(a) Short-term notes, warrants and interim debentures.
(b) General obligation bonds.
(c) Revenue bonds.
(d) Special assessment bonds.
2. The board of trustees of a district whose population within its boundaries is less than 5,000 shall not borrow money or issue securities to evidence such borrowing unless the board has obtained the approval of the debt management commission of the county in which the district is located.
3. The board of trustees of a district whose population within its boundaries is less than 5,000 shall not forward a resolution authorizing medium-term obligations to the Executive Director of the Department of Taxation unless such financing is approved by the debt management commission pursuant to subsection 2.
(Added to NRS by 2017, 2714)
2023 Nevada Revised Statutes › Chapter 318A - Parks, Trails and Open Space Districts › NRS 318A.500 - Debt limit of district.

A district may borrow money and incur or assume indebtedness therefor, as provided in this chapter, so long as the total of all such indebtedness, excluding revenue bonds, special assessment bonds and other securities constituting special obligations which are not debts, does not exceed an amount equal to 50 percent of the total of the last assessed valuation of taxable property, excluding motor vehicles, situated within such district.
(Added to NRS by 2017, 2714)
2023 Nevada Revised Statutes › Chapter 318A - Parks, Trails and Open Space Districts › NRS 318A.510 - Short-term notes, warrants and interim debentures.

1. A district, upon the affirmative vote of four trustees, is authorized to borrow money without an election in anticipation of the collection of taxes or other revenues, excluding special assessments, and to issue short-term notes, warrants and interim debentures to evidence the amount so borrowed.
2. Such short-term notes, warrants and interim debentures:
(a) Shall be payable from the fund for which the money was borrowed.
(b) Shall mature before the close of the fiscal year in which the money is so borrowed, except for interim debentures.
(c) Shall not be extended or funded except in compliance with the Local Government Securities Law.
(Added to NRS by 2017, 2714)
2023 Nevada Revised Statutes › Chapter 318A - Parks, Trails and Open Space Districts › NRS 318A.520 - Revenue bonds: Issuance for acquisition or improvement of facilities, improvements or projects.

A district with revenues from the operation of facilities, improvements or projects of the district may issue bonds without the necessity of holding an election and as an alternative or in addition to other forms of borrowing authorized in this chapter, for the purpose of acquiring or improving the facilities, improvements or projects and such bonds must be made payable solely out of the net revenues derived from the operation of such facilities, improvements or projects. A single bond issue may be had for more than one of such facilities, improvements or projects and the revenues for any and all of the income-producing facilities, improvements and projects may be pledged to pay for any other such facilities, improvements or projects. To that end, a single fund may be established and maintained.
(Added to NRS by 2017, 2715)
2023 Nevada Revised Statutes › Chapter 318A - Parks, Trails and Open Space Districts › NRS 318A.530 - Local Government Securities Law: Types of securities authorized to be issued.

1. Subject to the limitations and other provisions in this chapter, a board may issue on its behalf and in its name at any time or from time to time, as the board may determine, the following types of securities in accordance with the provisions of the Local Government Securities Law, except as otherwise provided in subsection 2:
(a) General obligation bonds and other general obligation securities payable from ad valorem taxes;
(b) General obligation bonds and other general obligation securities payable from ad valorem taxes, the payment of which securities is additionally secured by a pledge of and lien on net revenues;
(c) Revenue bonds and other securities constituting special obligations and payable from net revenues, but excluding the proceeds of any ad valorem taxes or any special assessments, which payment is secured by a pledge of and lien on such net revenues; or
(d) Any combination of such securities.
2. General obligation or revenue bonds may be sold at a discount only if the amount of discount permitted by the board has been capitalized as a cost of the project.
(Added to NRS by 2017, 2715)
2023 Nevada Revised Statutes › Chapter 318A - Parks, Trails and Open Space Districts › NRS 318A.540 - Assessments to pay expenses of improvements; exempt property.

1. Except as otherwise provided in subsection 2, such part of the expenses of making any public improvement, as the board determines by an affirmative vote of at least two-thirds of its members, may be defrayed by special assessments upon lands and premises located within the district and abutting upon that part of the street or alley so improved or proposed so to be, or the lands located within the district and abutting upon the improvement and the other lands as in the opinion of the board may be specially benefited by the improvement.
2. All property owned and used by a school district is exempt from any assessment made pursuant to the provisions of this chapter.
(Added to NRS by 2017, 2715)
2023 Nevada Revised Statutes › Chapter 318A - Parks, Trails and Open Space Districts › NRS 318A.550 - Initiation by resolution; notice of hearing; protests.

1. Except as otherwise provided in NRS 318A.380, the dissolution, merger or consolidation of a district may be initiated by resolution of a majority of the members of the governing body that created the district upon a finding that the dissolution, merger or consolidation is in the best interests of the district. Upon adoption of the resolution, the governing body must mail written notice to all property owners within the district setting forth the time and place for the hearing on the proposed dissolution, merger or consolidation.
2. Any person who owns property which is located within the district may, on or before the date of the hearing, protest against the dissolution of such district, in writing.
3. If, at or before the hearing, written protest is filed signed by a majority of the owners of property within the district, the district may not be dissolved, merged or consolidated.
(Added to NRS by 2017, 2715)
2023 Nevada Revised Statutes › Chapter 318A - Parks, Trails and Open Space Districts › NRS 318A.560 - Hearing; additional approval required if district contains areas within more than one county or city; filing of copies of action.

1. At the place, date and hour specified for the hearing in the notice or at any subsequent time to which the hearing may be adjourned, the governing body must give full consideration to all protests which may have been filed, hear all persons desiring to be heard and, except as otherwise provided in subsection 2, thereafter approve the dissolution, merger or consolidation or make a determination that district may not be dissolved, merged or consolidated.
2. Before a district that includes areas within more than one county or city may be dissolved, merged or consolidated, the governing bodies of the counties and cities must approve the dissolution, merger or consolidation and negotiate the distribution of property and funds of the district upon dissolution, merger or consolidation.
3. Within 30 days after the effective date of the dissolution, merger or consolidation of a district, the clerk must file a copy of the action of the governing body in the clerk’s office and the Office of the Secretary of State, which filings shall be without fee and be otherwise in the same manner as articles of incorporation are required to be filed under chapter 78 of NRS.
(Added to NRS by 2017, 2716)
2023 Nevada Revised Statutes › Chapter 318A - Parks, Trails and Open Space Districts › NRS 318A.570 - Surrender and transfer of property and money.

If a district located wholly within a county or city is dissolved or merged into or consolidated with another district, all property and all funds remaining in the treasury of any district must be:
1. Surrendered and transferred to the governing body of the county or city in which the district exists and become a part of the general fund of the county or city, as applicable, if the district is dissolved;
2. Transferred to the district which assumes its obligations and functions, if the district is merged; or
3. Transferred to the consolidated district, if the district is consolidated.
(Added to NRS by 2017, 2716)
2023 Nevada Revised Statutes › Chapter 318A - Parks, Trails and Open Space Districts › NRS 318A.580 - Collection and disposition of taxes, fees and special assessments for outstanding loans or indebtedness; liens.

1. If, at the time of the dissolution, merger or consolidation of a district there are any outstanding loans or bonded indebtedness of the district, the taxes, fees or special assessments for the payment of the bonds or other indebtedness must continue to be levied and collected in the same manner as if the district had not been dissolved, merged or consolidated until all outstanding indebtedness is repaid.
2. All outstanding and unpaid tax sales and levies and all special assessment liens of a dissolved district are valid and remain a lien against the property against which they are assessed or levied until paid, subject to the limitations of liens provided by general law. Taxes and special assessments paid after dissolution must be placed in the general fund of the county in which the property was assessed.
3. The governing body of the county or city, as applicable, has the same power to enforce the collection of all special assessments and outstanding tax sales of the district as the district had if it had not been dissolved, merged or consolidated.
(Added to NRS by 2017, 2716)
2023 Nevada Revised Statutes › Chapter 318A - Parks, Trails and Open Space Districts › NRS 318A.590 - Procedure for corrective action by governing body that created district: Notification or petition; hearing; adoption and challenge of ordinance or resolution.

1. Upon notification by the Department of Taxation or upon receipt of a petition signed by 20 percent of the qualified electors of the district, that:
(a) A district is not being properly managed by the board of trustees; or
(b) The board of trustees is not complying with the provisions of this chapter or with any other law,
the governing body that created the district must hold a hearing to consider the notification or petition.
2. The clerk shall mail written notice to all persons who own property within the district and to all qualified electors of the district, which notice shall set forth the substance of the notification or petition and the time and place of the hearing.
3. At the place, date and hour specified for the hearing, or at any subsequent time to which the hearing may be adjourned, the governing body must give full consideration to all persons desiring to be heard and shall thereafter:
(a) Adopt an ordinance constituting the governing body, ex officio, as the board of trustees of the district;
(b) Adopt an ordinance providing for the merger, consolidation or dissolution of the district pursuant to NRS 318A.550 to 318A.580, inclusive;
(c) File a petition in the district court for the county in which the district is located for the appointment of a receiver for the district; or
(d) Determine by resolution that management and organization of the district will remain unchanged.
4. The Department of Taxation or any interested person may, within 30 days immediately following the effective date of the ordinance adopted under paragraph (a) of subsection 3 or resolution adopted under paragraph (d) of subsection 3, commence an action in any court of competent jurisdiction to set aside the ordinance or resolution. After the expiration of 30 days, all actions attacking the regularity, validity and correctness of that ordinance or resolution are barred.
(Added to NRS by 2017, 2716)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.030 - Definitions.

As used in this chapter, the words and terms defined in NRS 319.040 to 319.135, inclusive, have the meanings ascribed to them in those sections.
(Added to NRS by 1975, 626; A 1979, 1186; 1987, 1354; 2009, 540; 2019, 1419)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.045 - "Collateralized mortgage obligation" defined.

"Collateralized mortgage obligation" means an obligation which represents an interest in a loan or a group of loans or which may be issued by the owner of one or more loans and secured by an assignment of or an interest in the principal or interest payable from such a loan or loans or by an interest in the underlying loan.
(Added to NRS by 1987, 1350)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.060 - "Eligible family" defined.

"Eligible family" means a person or family, selected without regard to race, creed, national origin, sex, sexual orientation, or gender identity or expression, determined by the Division to require such assistance as is made available by this chapter on account of insufficient personal or family income after taking into consideration, without limitation, such factors as:
1. The amount of the total income of that person or family available for housing needs;
2. The size of the family;
3. The cost and condition of housing facilities available;
4. The ability of the person or family to compete successfully in the normal private housing market and to pay the amounts at which private enterprise is providing decent, safe and sanitary housing;
5. If appropriate, standards established for various federal programs determining eligibility based on income of those persons and families; and
6. Service in the Armed Forces of the United States with a minimum of 90 days on active duty at some time between:
(a) April 21, 1898, and June 15, 1903;
(b) April 6, 1917, and November 11, 1918;
(c) December 7, 1941, and December 31, 1946;
(d) June 25, 1950, and January 31, 1955; or
(e) January 1, 1961, and May 7, 1975,
and at least 2 years’ continuous residence in Nevada immediately preceding any application for assistance under this chapter.
(Added to NRS by 1975, 626; A 1979, 1186; 1989, 1214; 2017, 1069)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.090 - "Lending institution" defined.

"Lending institution" means any bank or trust company, Federal National Mortgage Association approved mortgage company, national banking association, savings and loan association, savings bank or other financial institution or governmental agency of the United States which customarily provides service or otherwise aids in the financing of mortgages located in this state.
(Added to NRS by 1975, 626; A 2017, 3097)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.100 - "Mortgage" defined.

"Mortgage" means a mortgage deed, deed of trust or other instrument which constitutes a lien on real property in fee simple or on a leasehold under a lease whose remaining term, at the time such mortgage is acquired, does not expire for at least that number of years beyond the maturity date of the obligation secured by such mortgage as is established by the Division as necessary to protect its interest as mortgagee.
(Added to NRS by 1975, 627)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.120 - "Real property" defined.

"Real property" means all lands, including rights to space above the lands, improvements and fixtures on the lands and property of any nature appurtenant to or used in connection with the lands, and every estate, interest and right, legal or equitable, in the lands, including terms of years and liens by way of judgment, mortgage or otherwise and the indebtedness secured by such liens.
(Added to NRS by 1975, 627; A 1977, 50)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.130 - "Residential housing" defined.

"Residential housing" means one or more new or existing residential dwelling units financed pursuant to the provisions of this chapter for the primary purpose of providing decent, safe and sanitary dwelling accommodations for eligible families in need of housing, including any buildings, manufactured homes, mobile homes, mobile home parks, land, improvements, equipment, facilities, other real or personal property, or other related nonhousing facilities which are necessary, convenient or desirable in connection therewith, and including but not limited to streets, sewers, utilities, parks, site preparation, landscaping and other nonhousing facilities such as administrative, community, transportation, health, recreational, educational, commercial, retail, welfare and public facilities which the Division determines improve the quality of the residential living for eligible families.
(Added to NRS by 1975, 627; A 1981, 1664; 1983, 971)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.135 - "Sponsor" defined.

"Sponsor" means any natural person, association, corporation, joint venture, partnership, trust, state agency, municipality or other legal entity, or any combination thereof, which:
1. Has been approved by the Division to acquire, own, construct, rehabilitate, operate, lease, manage or maintain a housing project; and
2. Except for a state agency or municipality, has agreed to subject itself to regulation by the Division.
(Added to NRS by 1977, 195)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.141 - Housing Advocate: Creation of position; appointment; classification; qualifications; duties; removal.

1. The Housing Advocate is hereby created within the Division.
2. The Administrator shall appoint a person to serve in the position of Housing Advocate. The Housing Advocate is in the unclassified service of the State and serves at the pleasure of the Administrator.
3. The person so appointed pursuant to subsection 2 must be knowledgeable about affordable housing and manufactured housing.
4. The Housing Advocate shall:
(a) Respond to written and telephonic inquiries received from residents who reside in affordable housing and manufactured housing and provide assistance to such residents in understanding their rights and responsibilities;
(b) Conduct community outreach and provide information concerning housing to residents who reside in affordable housing and manufactured housing;
(c) Identify and investigate complaints of residents of affordable housing and manufactured housing that relate to their housing and provide assistance to such residents to resolve the complaints;
(d) Establish and maintain a system to collect and maintain information pertaining to written and telephonic inquiries received by the Division; and
(e) Any other duties specified by the Administrator.
5. The Administrator may remove the Housing Advocate from the office for any reason not prohibited by law.
(Added to NRS by 2017, 3615)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.145 - Designation as housing credit agency; authority to administer HOME Investment Partnership Act; duty to administer program to increase efficiency in use of energy in dwellings owned or occupied by persons of low income.

1. The Division is hereby designated as the housing credit agency for the State of Nevada, as that term is defined in 26 U.S.C. § 42(h)(7)(A), for the purpose of allocating and distributing credits for low-income housing pursuant to 26 U.S.C. § 42.
2. The Division:
(a) May adopt regulations establishing procedures necessary for the proper allocation and distribution of credits for low-income housing pursuant to 26 U.S.C. § 42; and
(b) Shall exercise all powers necessary to administer the allocation and distribution of those credits.
3. The Division may act for the State of Nevada as the agency to facilitate the state’s designation as a participating jurisdiction in the HOME Investment Partnership Act (42 U.S.C. §§ 12701 et seq.). Upon receiving such a designation, the Division may exercise all powers necessary to administer the program.
4. The Division shall administer the program established to increase the efficiency with which energy is used in dwellings owned or occupied by persons of low income pursuant to 42 U.S.C. §§ 6861 et seq.
(Added to NRS by 1987, 1352; A 1991, 1639; 1997, 2612)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.147 - Certification of assisted living facilities: Requirements; regulations.

1. The Division shall certify an assisted living facility for the purpose of providing services pursuant to the provisions of the home and community-based services waiver which are amended pursuant to NRS 422.3962 if the facility:
(a) Provides assisted living supportive services to senior citizens of low or moderate income;
(b) Provides or arranges for the provision of case management services for its residents;
(c) Guarantees affordable housing for a period of at least 15 years after the facility is certified;
(d) Is financed through tax credits relating to low-income housing or other public funds; and
(e) Satisfies any other requirements set forth by the Division in any regulations adopted by the Division.
2. The Division shall adopt regulations concerning the certification of assisted living facilities pursuant to this section.
3. As used in this section:
(a) "Assisted living facility" has the meaning ascribed to it in paragraph (a) of subsection 3 of NRS 422.3962.
(b) "Assisted living supportive services" has the meaning ascribed to it in paragraph (b) of subsection 3 of NRS 422.3962.
(Added to NRS by 2005, 922)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.167 - Division may enter into instruments, agreements and other transactions for certain purposes.

1. Upon the approval of the State Board of Finance, the Division may enter into instruments, agreements and other such transactions for one or more of the following purposes:
(a) Reducing or modifying the amount or duration of any payment, interest rate, spread or similar risk;
(b) Lowering the cost of borrowing when used in combination with the issuance or carrying of bonds or investments; or
(c) Enhancing the relationship between risk and return with respect to the programs of the Division for lending or investment or any portion thereof.
2. In entering into such instruments, agreements or other such transactions, the Division shall consider the creditworthiness of the counterparties and other relevant criteria relating to the objectives of the programs of the Division.
(Added to NRS by 2001, 2120; A 2003, 2194; 2009, 650)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.169 - Account for Housing Inspection and Compliance: Creation; administration; deposits; interest and income; claims; uses established by regulation.

1. The Account for Housing Inspection and Compliance is hereby created in the State General Fund.
2. The Account must be administered by the Division. Except as otherwise provided in NRS 118B.213 and 489.265, all money received by the Division pursuant to NRS 118B.185 or any other source must be deposited into the Account.
3. The interest and income earned on the money in the Account, after deducting any applicable charges, must be credited to the Account.
4. Claims against the Account must be paid as other claims against the State are paid.
5. The Administrator shall adopt regulations setting forth the use of the money in the Account, including, without limitation:
(a) Licensing, regulating and inspecting:
(1) Housing for persons of low-income that is financed pursuant to this chapter; and
(2) Manufactured homes, mobile homes, manufactured buildings, commercial coaches, factory-built housing or manufactured home parks pursuant to chapters 118B, 461, 461A and 489 of NRS;
(b) Licensing, regulating and inspecting manufacturers, general servicepersons, dealers, responsible managing employees, salespersons, distributors and specialty servicepersons pursuant to chapter 489 of NRS;
(c) Maintaining title records, and issuing certificates of title, property liens and conversions to real property of a mobile home or manufactured home;
(d) Investigating complaints, including, without limitation, complaints:
(1) Between a landlord and a tenant of a mobile home park; and
(2) Alleging unlicensed activity; and
(e) Administering any educational and training program for a provider of manufactured housing.
6. As used in this section:
(a) "Commercial coach" has the meaning ascribed to it in NRS 489.062.
(b) "Dealer" has the meaning ascribed to it in NRS 489.076.
(c) "Distributor" has the meaning ascribed to it in NRS 489.081.
(d) "Factory-built housing" has the meaning ascribed to it in NRS 461.080.
(e) "General serviceperson" has the meaning ascribed to it in NRS 489.102.
(f) "Manufactured building" has the meaning ascribed to it in NRS 461.132.
(g) "Manufactured home" has the meaning ascribed to it in NRS 489.113.
(h) "Manufactured home lot" has the meaning ascribed to it in NRS 118B.016.
(i) "Manufactured home park" has the meaning ascribed to it in NRS 118B.017.
(j) "Manufacturer" has the meaning ascribed to it in NRS 489.115.
(k) "Mobile home" has the meaning ascribed to it in NRS 489.120.
(l) "Mobile home park" has the meaning ascribed to "manufactured home park" in NRS 118B.017.
(m) "Responsible managing employee" has the meaning ascribed to it in NRS 489.1353.
(n) "Salesperson" has the meaning ascribed to it in NRS 489.137.
(o) "Specialty serviceperson" has the meaning ascribed to it in NRS 489.147.
(Added to NRS by 2017, 3614; A 2023, 38)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.170 - Funds and accounts; investments and deposits.

Except as otherwise provided in NRS 319.169 and 319.500, the Division may:
1. Establish such funds or accounts as may be necessary or desirable for furtherance of the purposes of this chapter.
2. Invest or deposit its money, subject to any agreement with bondholders or noteholders, and is not required to keep any of its money in the State Treasury. The provisions of chapters 355 and 356 of NRS do not apply to such investments or deposits.
(Added to NRS by 1975, 628; A 1989, 1214; 2017, 3616)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.171 - Investment in collateralized mortgage obligations or trusts.

Except as otherwise provided in NRS 319.169 and 319.500, the Division may invest its money in collateralized mortgage obligations or in trusts created to finance, acquire or invest in collateralized mortgage obligations if the collateralized mortgage obligations or trusts so created are:
1. In furtherance of the purposes of the Division; and
2. Rated within one of the top three rating categories of a national rating service at the time the investment is made.
(Added to NRS by 1987, 1351; A 1989, 1215; 2017, 3616)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.172 - Authority to make loans of investment securities.

1. The Division may lend any securities in which it invests pursuant to NRS 319.170 if the Division receives collateral from the borrower in the form of cash or marketable securities that are:
(a) Acceptable to the Division; and
(b) At least 102 percent of the value of the securities borrowed.
2. The Division may enter into such contracts as are necessary to extend and manage loans pursuant to this section.
(Added to NRS by 1999, 927)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.174 - Advisory Committee on Housing: Creation; members; terms; vacancies; Chair; meetings; duties.

1. There is hereby created the Advisory Committee on Housing, consisting of nine members as set forth in subsection 2.
2. The Advisory Committee consists of:
(a) One member who is a Legislator appointed by the Legislative Commission;
(b) One member appointed by the Nevada Rural Housing Authority;
(c) One member appointed by the Southern Nevada Regional Housing Authority;
(d) One member appointed by the Reno Housing Authority; and
(e) Five members appointed by the Director as follows:
(1) One member who is knowledgeable and has experience in supportive housing programs and projects;
(2) One member who is representative of builders and developers of multifamily housing projects;
(3) One member who is knowledgeable in banking and the financing of housing projects;
(4) One member who represents a local community development agency or regional planning agency in southern Nevada; and
(5) One member who represents a local community development agency or regional planning agency in northern Nevada.
The members of the Advisory Committee are not entitled to any additional compensation for their service in that capacity.
3. A member of the Advisory Committee serves a term of 2 years and until his or her successor is appointed. A member may be reappointed for additional terms of 2 years in the same manner as the original appointment.
4. A vacancy in the membership of the Committee must be filled in the same manner as the original appointment for the remainder of the unexpired term.
5. The members of the Advisory Committee shall select a Chair from among their membership. The term of office of the Chair is 2 years. The Advisory Committee shall meet at least once each calendar quarter, and at the call of the Chair or upon the written request of the Administrator or a majority of the members of the Advisory Committee.
6. The Division shall provide administrative support to the Advisory Committee.
7. The Advisory Committee shall:
(a) Review and comment on:
(1) The annual housing progress report compiled by the Division pursuant to NRS 278.235;
(2) The annual plan established by the Division for allocating tax credits for low-income housing pursuant to 26 U.S.C. § 42; and
(3) Any other matter or information submitted to it by the Division.
(b) Annually prepare and submit to the Private Activity Bond Council created by NRS 348A.050, a report concerning housing that addresses, without limitation:
(1) Community needs for housing in this State;
(2) Housing trends; and
(3) Housing goals for this State.
8. As used in this section:
(a) "Director" means the Director of the Department of Business and Industry.
(b) "Private activity bond" has the meaning ascribed to it in NRS 348A.010.
(Added to NRS by 2019, 2428)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.190 - Authority to make loans and issue letters of credit.

1. The Division may make, undertake commitments to make and participate with lending institutions in the making of mortgage loans and may make temporary loans and advances in anticipation of mortgage loans to finance the acquisition, construction, development, renewal, redevelopment, rehabilitation or refinancing of residential housing, including, without limitation, multifamily housing, within this state.
2. The Division may issue letters of credit to finance the acquisition, construction, development, renewal, redevelopment, rehabilitation or refinancing of residential housing, including, without limitation, multifamily housing, within this state if, at the time a letter of credit is issued, the Division has a credit rating within one of the three highest rating categories of a nationally recognized rating agency.
(Added to NRS by 1975, 628; A 1977, 195; 1987, 1354; 1991, 214; 2001, 2121; 2003, 2192, 2194; 2009, 650)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.200 - Terms and conditions of mortgage loan.

Any mortgage loan made by the Division must be secured in such manner, be repaid in such period and bear interest at such rate or rates as are determined by the Division.
(Added to NRS by 1975, 628; A 2001, 2122; 2003, 2194; 2009, 650)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.210 - Investment in mortgages.

1. The Division may:
(a) Invest in, purchase or make commitments to purchase, and take assignments from lending institutions of mortgage loans and promissory notes accompanying such mortgage loans, including mortgage loans or participations with lending institutions in such promissory notes and mortgage loans, for the construction, rehabilitation, purchase, leasing or refinancing of residential housing within this state.
(b) Sell, at public or private sale, with or without public bidding, any mortgage or other obligation held by the Division.
2. At or before the time of purchase, the lending institution shall certify to the Division with respect to all mortgage loans transferred to the Division:
(a) That the mortgage loans transferred to the Division are for residential housing for eligible families within this state; or
(b) That the proceeds of sale or its equivalent will be reinvested in mortgage loans for residential housing for eligible families within this state in an aggregate principal amount equal to the amount of such sale proceeds.
(Added to NRS by 1975, 628; A 2001, 2122; 2003, 2194; 2009, 650)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.220 - Mortgages in default: Foreclosure; modification of terms.

The Division may:
1. Renegotiate, refinance or foreclose, or contract for the foreclosure of, any mortgage in default;
2. Waive any default or consent to the modification of the terms of any mortgage;
3. Commence any action to protect or enforce any right conferred upon it by any law, mortgage, contract or other agreement;
4. Bid for and purchase property upon which it holds a mortgage at any foreclosure or at any other sale, or acquire and take possession of any such property;
5. Operate, manage, lease, dispose of and otherwise deal with such property in such manner as may be necessary to protect the interest of the Division and the holders of its bonds, notes and other obligations; and
6. Consent to any modification with respect to rate of interest, time and payment of any installment of principal or interest, security or any other term of any contract, mortgage, mortgage loan, mortgage loan commitment, contract or agreement of any kind to which the Division is a party, subject to any agreement with bondholders or noteholders.
(Added to NRS by 1975, 629)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.235 - Financing rental sites for mobile homes and equipment for conservation of energy in residential dwelling units.

The Division may finance, through the use of any power conferred on it by this chapter:
1. The acquisition and improvement of real property to be used for rental sites for mobile homes, whether or not the mobile homes are to be financed pursuant to this chapter; and
2. The purchase and installation of equipment and materials to be used in residential dwelling units for conservation of energy or for use of energy from alternative sources,
and any related improvements appropriate to any of these purposes.
(Added to NRS by 1981, 1664)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.260 - Prerequisites to financing residential housing.

The Division shall not finance any residential housing unless, prior to such financing, the Administrator finds that:
1. There exists a shortage of decent, safe and sanitary housing at rentals or prices which eligible families can afford within the general housing market area as determined by the Administrator.
2. Private enterprise and investment have been unable, without assistance, to provide an adequate supply of decent, safe and sanitary housing in such housing market area at rentals or prices which persons or families of low and moderate income can afford or to provide sufficient mortgage financing for residential housing for occupancy by such persons or families.
3. The proposed residential housing will increase the supply or improve the quality of decent, safe and sanitary housing for eligible families.
4. The residential housing to be developed or assisted by the Division pursuant to the provisions of this chapter will be of public use and will provide a public benefit.
5. The Division’s estimates of its revenues from the financing of the residential housing, together with all subsidies, grants or other financial assistance from governmental agencies or other entities to be received in connection with the residential housing, will be sufficient to pay the amount estimated by the Division as necessary for debt service on its notes and bonds to be issued for the financing of the residential housing.
(Added to NRS by 1975, 630)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.265 - Requirements for regulations adopted by Division that establish program for financing certain residential housing projects.

1. If the Division adopts regulations which establish a program for the financing of projects, the regulations must not include any provision which restricts or requires the deferral of more than 60 percent of the payment of profits and overhead to a developer of a project that is:
(a) Constructed, developed, financed or insured in whole or in part through any program established by the United States Department of Housing and Urban Development; and
(b) Secured by a performance bond,
except that such regulations may establish the maximum amount of pro forma profit and overhead for a developer of a project as a percentage of the appraised value of the project.
2. As used in this section, "project" means a housing facility for residential use which consists of two or more dwelling units for occupancy by eligible tenants on a rental basis. The term includes property which is to be leased, purchased or developed for sites for multifamily housing and upon which the Division takes a security interest and records a regulatory agreement, whether the Division issues bonds, a mortgage loan or a letter of credit for the lease, purchase or development of the multifamily housing.
(Added to NRS by 2009, 606)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.270 - Notes and bonds: Issuance; limitation on outstanding obligations.

1. Subject to the limitation imposed by subsections 4 and 5, the Division may issue its negotiable notes and bonds in such principal amount as the Administrator determines to be necessary to provide sufficient money for achieving any of its statutory purposes, including the payment of interest on notes and bonds of the Division, establishment of bond reserve funds and other reserves to secure the notes and bonds, and all other expenditures of the Division necessary or convenient to carry out its statutory purposes and powers.
2. Subject to any agreements with holders of notes or bonds, all notes and bonds issued by the Division are special obligations of the Division payable out of any revenues, money or other assets of the Division pledged thereto.
3. In issuing the notes and bonds, the Division acts as an agency or instrumentality of the State of Nevada.
4. Before any notes or bonds may be issued pursuant to this section, except those issued for the purpose of refunding outstanding notes or bonds, the Administrator must submit a copy of his or her finding of the conditions prerequisite to the financing of residential housing under this chapter to the State Board of Finance. If that Board approves, the Division may proceed to issue its notes or bonds in the amount approved, subject to the further limitation of subsection 5.
5. The aggregate principal amount of outstanding bonds, notes and other obligations of the Division must not exceed $5,000,000,000, of which $100,000,000 must be allocated to veterans who qualify for loans under this chapter, exclusive of any bonds, notes or obligations which have been refunded or which were issued at a time when the Division had a credit rating within one of the three highest rating categories of a nationally recognized rating agency. The establishment of this debt limitation does not prohibit the Division from issuing additional bonds, notes or other obligations if the debt limitation is subsequently increased.
(Added to NRS by 1975, 631; A 1977, 196; 1979, 1188; 1981, 877; 1985, 46; 1999, 959; 2003, 2193)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.280 - Notes and bonds: Execution; terms; chapter 349 of NRS inapplicable.

1. The notes and bonds must be signed by the Administrator, who may use a facsimile signature for this purpose, must bear the date or dates and must mature at such a time or times as the Administrator determines. The bonds may be issued as serial bonds payable in annual installments or as term bonds or as a combination thereof. The notes and bonds must bear interest at such a rate or rates, be in such denominations, have such registration privileges, be executed in such a manner, be payable in such a medium of payment, at such a place or places within or outside of the State, and be subject to such terms of redemption as the Administrator determines. The notes and bonds of the Division may be sold by the Division at public or private sale at such a price or prices as the Administrator determines except that no note, bond or other obligation issued by the Division may be initially distributed to the public unless it has received a rating in one of the three highest rating categories from a national rating service.
2. If the Administrator whose signature appears on any notes or bonds or coupons ceases to act in that capacity before the delivery of the notes or bonds, the signature of the Administrator is valid and sufficient for all purposes as if the Administrator had remained in office until their delivery.
3. The provisions of chapter 349 of NRS do not apply to any bonds, notes or other obligations issued by the Division under the provisions of this chapter.
(Added to NRS by 1975, 631; A 1979, 1189; 1987, 1354)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.300 - Bonds: Trust indentures as security.

In the discretion of the Administrator, bonds issued by the Division may be secured by a trust indenture or trust indentures by and between the Division and a corporate trustee, which may be any trust company or bank having the power of a trust company within or outside this state. Such trust indenture may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including covenants setting forth the duties of the Division in relation to the exercise of its statutory powers and the custody, safeguarding and application of all moneys. The Division may provide by such trust indenture for the payment of the proceeds of the bonds and the revenues to the trustee under such trust indenture or other depository, and for the method of disbursement thereof, with such safeguards and restrictions as the Administrator may determine. All expenses incurred in carrying out such trust indenture may be treated as part of the operating expenses of the Division. Such trust indenture may limit or abrogate the right of the holders of any bonds, notes or other obligations of the Division to appoint a trustee under this chapter or limit the rights, powers and duties of such trustee.
(Added to NRS by 1975, 632)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.310 - Notes and bonds: Guarantees of payment.

The Division may procure or agree to the procurement of insurance or guarantees from any governmental agency or from any private insurance company, of the payment of any bonds or notes or any other evidences of indebtedness thereof issued by the Division or by any lending institution, and may pay premiums on such insurance.
(Added to NRS by 1975, 633)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.320 - Notes and bonds: Redemption; remarketing or refunding.

1. The Division, subject to such agreements with noteholders or bondholders as may then exist, may, out of any money available therefor, purchase its notes or bonds to retire and cancel them. The price must not exceed:
(a) The redemption price then applicable plus accrued interest to the next interest payment thereon if the notes or bonds are then redeemable; or
(b) The redemption price applicable on the first date after the purchase upon which the notes or bonds become subject to redemption plus accrued interest to that date if the notes or bonds are not redeemable.
2. The Division may, in connection with any remarketing or refunding of its notes or bonds or for any of its purposes, acquire, or cause to be acquired, its notes or bonds without retiring and cancelling them.
(Added to NRS by 1975, 633; A 1987, 1354)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.323 - Issuance of collateralized mortgage obligations; use of proceeds; submission of findings to State Board of Finance.

1. The Division may, in addition to the notes and bonds authorized by NRS 319.270, issue from time to time its collateralized mortgage obligations or other negotiable notes, bonds or obligations which may be secured by collateral consisting of, otherwise secured in whole or in part by, or which may evidence loans or participations or other interests in loans or participations. Any money acquired from such an issuance must be applied by the Division to carry out its purposes.
2. Any such collateralized mortgage obligations or other notes, bonds or obligations are subject to the limitations of subsection 5 of NRS 319.270 to the extent they constitute a debt under generally accepted accounting principles.
3. Using the proceeds of collateralized mortgage obligations or other available money, the Division may purchase or otherwise acquire the loans or participations or other interests in loans or participations which are collateral for, secure or evidence or are evidenced by collateralized mortgage obligations or other notes, bonds or obligations issued by the Division pursuant to this section. Such loans may be secured by mortgages on real property outside of this state.
4. Before the issuance of any collateralized mortgage obligations or other bonds, notes or obligations pursuant to this section, the Administrator shall submit to the State Board of Finance a copy of his or her findings that:
(a) The issuance of the obligation is in furtherance of the purposes of the Division; and
(b) The estimate of the revenues and other amounts to be derived from such financing is sufficient to pay the amount estimated to be necessary for debt service on the collateralized mortgage obligations or other notes, bonds or obligations issued pursuant to this section.
If that Board approves, the Division may proceed to issue such collateralized mortgage obligations or other notes, bonds or obligations in the amount approved.
(Added to NRS by 1987, 1351)
2023 Nevada Revised Statutes › Chapter 319 - Assistance to Finance Housing › NRS 319.325 - Division may provide that bonds, notes or loans be insured or secured; payment of costs associated with insurance.

The Division may:
1. Provide that any bonds or notes issued by the Division be insured or be secured by surety bonds, letters of credit not issued by the Division, guaranties or other means of assuring repayment of such bonds or notes.
2. Require that any loans, including a mortgage loan, made or purchased by the Division be insured or be secured by surety bonds, letters of credit not issued by the Division, guaranties or other means of assuring repayment of such loans.
3. Pay the fees, charges, premiums and any other costs associated with obtaining and maintaining insurance, or other means of assuring repayment, from any available money of the Division including premiums, fees and charges assessed against sponsors, lending institutions or other participants or beneficiaries of the programs of the Division.
(Added to NRS by 1987, 1351; A 1991, 215)