reglab/statecodes huggingface dataset:
2023 Nevada Revised Statutes › Chapter 348 - Registration of Public Securities › NRS 348.380 - Signatures: Effect if officer ceases to fill his or her office; adoption of predecessor’s signature.

1. Any certificated public security signed by the authorized officers at the time of its signing is not invalid and must not be denied binding effect on the grounds that before its issuance any or all of those officers ceased to fill their respective offices.
2. Any authorized officer empowered to sign any such certificated public security may adopt as and for his or her signature the signature of a predecessor in office if the predecessor’s signature appears on the certificated public security.
(Added to NRS by 1983, 607)
2023 Nevada Revised Statutes › Chapter 348 - Registration of Public Securities › NRS 348.390 - Use of facsimile seal on certificated public security.

When a seal is required or permitted in the execution of any certificated public security, the authorized officer may cause a facsimile seal to be placed thereon. The facsimile seal has the same legal effect as the impression of a seal.
(Added to NRS by 1983, 607)
2023 Nevada Revised Statutes › Chapter 348 - Registration of Public Securities › NRS 348.410 - Statements describing registrants’ rights.

1. The issuer shall provide, with respect to its uncertificated public securities, for the sending of written statements which provide a record of certain rights as of the time of issuance of the statements.
2. These statements must be sent to each person acquiring rights by registration in uncertificated public securities, and the statements so sent must be signed by an authorized officer or by a person whose signature is required or permitted to be placed on a certificated public security of the same class or series.
3. Statements as such, confer no rights on the recipient. A statement is neither a negotiable instrument nor a public security.
(Added to NRS by 1983, 607)
2023 Nevada Revised Statutes › Chapter 348 - Registration of Public Securities › NRS 348.420 - Records of transferees and pledgees not subject to inspection or copying as public record; maintenance of records of issuer.

1. Records of the transferees and pledgees of public securities and their addresses are not subject to inspection or copying under any law of this state relating to the inspection or copying of public records.
2. Registration records of the issuer may be maintained at such locations within or without the State as the issuer determines.
(Added to NRS by 1983, 609)
2023 Nevada Revised Statutes › Chapter 348 - Registration of Public Securities › NRS 348.430 - Appointment of agents by issuer; agreement for establishment and maintenance of central depository system.

1. An issuer may:
(a) Appoint for such term as may be agreed, including for so long as an issue may be outstanding, corporate or other authenticating trustees, registrars, paying agents, other transfer agents, or other agents, and specify their rights, compensation and duties;
(b) Limit their liabilities; and
(c) Provide for their payment of liquidated damages in the event of a breach of certain of the duties imposed, which liquidated damages may be made payable to a financial intermediary.
2. None of the persons designated above in subsection 1 need have an office or do business within this state.
3. An issuer may enter into a binding agreement with custodian banks and financial intermediaries, and nominees of any of them, in connection with the establishment and maintenance by others of a central depository system for the transfer or pledge of federal securities, public securities or other securities for the benefit of the issuer.
4. Any such custodian banks, financial intermediaries and nominees may, if qualified and acting as fiduciaries, also serve as authenticating trustees, registrars, paying agents, other types of transfer agents and other agents of the issuer with respect to the same issue of public securities.
(Added to NRS by 1983, 607)
2023 Nevada Revised Statutes › Chapter 348 - Registration of Public Securities › NRS 348.440 - Payment of installments for principal, interest and premiums.

Payment of an installment of principal or interest, or both principal and interest, and any premium for prior redemption due at any designated date may be required by any authorizing instrument pertaining to the issuance of public securities to be by check, draft or other medium of payment and need not be conditioned upon presentation of any public security or coupon.
(Added to NRS by 1983, 607)
2023 Nevada Revised Statutes › Chapter 348 - Registration of Public Securities › NRS 348.450 - Acceptance of deposit of public securities as security.

Whenever under the laws of the State a deposit of public securities is authorized as security, public securities otherwise meeting the authorized criteria, which are issued under a system of full registration which provides for registration of pledges of such securities, may be deposited and must be accepted as security if the pledge is registered.
(Added to NRS by 1983, 609)
2023 Nevada Revised Statutes › Chapter 348A - Issuance of Private Activity Bonds › NRS 348A.010 - Definitions.

As used in this chapter:
1. "Council" means the Private Activity Bond Council created by NRS 348A.050.
2. "Director" means the Director of the Department of Business and Industry.
3. "Private activity bond" has the meaning ascribed to it in 26 U.S.C. § 141.
4. "State ceiling" has the meaning ascribed to it in 26 U.S.C. § 146(d).
5. "Volume cap" has the meaning ascribed to it in 26 U.S.C. § 146(b) and (c).
(Added to NRS by 1987, 479; A 1993, 1569; 2019, 2431)
2023 Nevada Revised Statutes › Chapter 348A - Issuance of Private Activity Bonds › NRS 348A.020 - Determination of aggregate face amount of bonds.

For the purpose of determining, within the limitations established by 26 U.S.C. § 146, the aggregate face amount of private activity bonds which may be issued during any calendar year:
1. The volume cap for the Director is, for any calendar year, 50 percent of the state ceiling for that year, subject to augmentation or diminution in accordance with any regulation adopted pursuant to NRS 348A.040.
2. The volume cap for any local government in this state is, for any calendar year, an amount which bears the same ratio to 50 percent of the state ceiling for that year as the population of that local government bears to the population of the entire state, subject to augmentation or diminution in accordance with any regulation adopted pursuant to NRS 348A.040.
(Added to NRS by 1987, 479)
2023 Nevada Revised Statutes › Chapter 348A - Issuance of Private Activity Bonds › NRS 348A.030 - Director or designee may make required certification.

The Director or any officer or employee of the State designated in writing by the Governor or the Director may make the certification required by 26 U.S.C. § 149(e)(2)(F).
(Added to NRS by 1987, 479)
2023 Nevada Revised Statutes › Chapter 348A - Issuance of Private Activity Bonds › NRS 348A.040 - Regulations.

The Director may adopt such regulations as are necessary to carry out the provisions of this chapter, including:
1. Procedures by which volume caps may be augmented or diminished within the state ceiling for any calendar year;
2. Requirements for the timely use or reversion of the volume cap for any local government; and
3. Provisions by which the Director, any local government or any agency of this or any other state may share or use any available volume cap.
(Added to NRS by 1987, 479)
2023 Nevada Revised Statutes › Chapter 348A - Issuance of Private Activity Bonds › NRS 348A.050 - Private Activity Bond Council: Creation; Chair; membership; terms; vacancies; compensation, allowances and expenses of members; members holding public office or employed by governmental entity; meetings; quorum; administrative support.

1. The Private Activity Bond Council is hereby created.
2. The Council consists of seven members as follows:
(a) The Director, or his or her designee, who shall serve as Chair of the Council;
(b) The Executive Director of the Office of Economic Development, or his or her designee;
(c) One member who is a member of the Senate appointed by the Legislative Commission;
(d) One member who is a member of the Assembly appointed by the Legislative Commission;
(e) One member appointed by the Nevada League of Cities;
(f) One member appointed by the Nevada Association of Counties; and
(g) One member who has experience in financing affordable housing projects appointed by the Director.
3. An appointed member of the Council serves a term of 2 years and until his or her successor is appointed. An appointed member may be reappointed for additional terms of 2 years in the same manner as the original appointment.
4. A vacancy in the appointed membership of the Council must be filled in the same manner as the original appointment for the remainder of the unexpired term.
5. Each member of the Council:
(a) Serves without compensation; and
(b) While engaged in the business of the Council, is entitled to receive the per diem allowance and travel expenses provided for state officers and employees generally.
6. A member of the Council who is an officer or employee of this State or a political subdivision of this State must be relieved from his or her duties without loss of regular compensation to prepare for and attend meetings of the Council and perform any work necessary to carry out the duties of the Council in the most timely manner practicable. A state agency or political subdivision of this State shall not require an officer or employee who is a member of the Council to:
(a) Make up the time he or she is absent from work to carry out his or her duties as a member of the Council; or
(b) Take annual leave or compensatory time for the absence.
7. The Council shall meet at the call of the Chair as frequently as required to perform its duties, but not less than twice each year.
8. A majority of the voting members of the Council constitutes a quorum for the transaction of business, and a majority of a quorum present at any meeting is sufficient for any official action taken by the Council.
9. The Department of Business and Industry shall provide the Council with administrative support.
(Added to NRS by 2019, 2430)
2023 Nevada Revised Statutes › Chapter 348A - Issuance of Private Activity Bonds › NRS 348A.060 - Private Activity Bond Council: Duties.

The Council shall:
1. Receive and consider the annual report concerning housing submitted by the Advisory Committee on Housing, created by NRS 319.174;
2. Advise the Governor, the State Board of Finance or the Director on the allocation of the state ceiling for the issuance of private activity bonds during any calendar year; and
3. Upon request, advise the Governor, the State Board of Finance or the Director on any other matter concerning private activity bonds.
(Added to NRS by 2019, 2431)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.010 - Submission of proposal to issue bonds at special, primary or general election; limitation on special elections.

1. Whenever the State of Nevada proposes to issue bonds or provide for loans in any amount which does not contravene the limit of indebtedness provided by the Constitution of the State of Nevada, the proposal for the bond issue or loan may be submitted to the electors of the State at a special, primary or general election.
2. A special election may be held only if the State Board of Finance determines, by a unanimous vote, that an emergency exists. The determination made by the Board is conclusive unless it is shown that the Board acted with fraud or a gross abuse of discretion. An action to challenge the determination made by the Board must be commenced within 15 days after the Board’s determination is final. As used in this subsection, "emergency" means any unexpected occurrence or combination of occurrences which requires immediate action by the State Board of Finance to prevent or mitigate a substantial financial loss to the State or to enable the State to provide an essential service to the residents of the State.
[Part 2:70:1937; A 1956, 219]—(NRS A 1959, 240; 1969, 1584; 1975, 856; 1993, 1065; 1995, 2236)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.013 - Publication of notice of election; Secretary of State to certify proposal to county clerks.

1. Whenever the State has ordered a bond election, the clerk of each county in the State shall cause notice of the election to be published in some newspaper printed in and having a general circulation in the county once in each calendar week for 2 successive calendar weeks by two weekly insertions a week apart, the first publication to be not more than 30 days nor less than 22 days next preceding the date of the election.
2. If no newspaper is printed in the county, then publication of the notice of election shall be made in some newspaper printed in the State of Nevada and having a general circulation in the county.
3. The Secretary of State shall certify to each county clerk the proposal for the bond issue or loan at least 40 days prior to the election.
(Added to NRS by 1969, 1584)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.015 - Contents of sample ballot and notice of election; consolidation with primary or general election.

1. Except as otherwise provided in subsection 3, the sample ballot required to be distributed pursuant to NRS 293.565 or 293C.530, and the notice of election must contain:
(a) The time and places of holding the election.
(b) The hours during the day in which the polls will be open, which must be the same as provided for general elections.
(c) The purposes for which the bonds are to be issued.
(d) A disclosure of any:
(1) Future increase or decrease in costs which can reasonably be anticipated in relation to the purposes for which the obligations are to be issued and its probable effect on the tax rate; and
(2) Requirement relating to the bond question which is imposed pursuant to a court order or state or federal statute and the probable consequences which will result if the bond question is not approved by the voters.
(e) An estimate of the annual cost to operate, maintain and repair any buildings, structures or other facilities or improvements to be constructed or acquired with the proceeds of the bonds.
(f) The maximum amount of the bonds.
(g) The maximum rate of interest.
(h) The maximum number of years which the bonds are to run.
2. Any election called pursuant to NRS 349.010 to 349.070, inclusive, may be consolidated with a primary or general election.
3. If the election is consolidated with a general election, the notice of election need not set forth the places of holding the election, but may instead state that the places of holding the election will be the same as those provided for the general election.
(Added to NRS by 1969, 1584; A 1987, 1468; 1993, 1065, 1418; 1995, 554; 1997, 3476; 2015, 2647, 3179)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.017 - Notice of registration of electors for special election; hours for registration.

1. If the bond question is submitted at a general election, no notice of registration of electors is required other than that required by the laws for a general election.
2. If the bond question is submitted at a special election, the clerk of each county shall cause to be published, at least once a week for 2 consecutive weeks by two weekly insertions a week apart, the first publication to be not more than 50 days nor less than 42 days next preceding the election, in a newspaper published within the county, if any is so published, and having a general circulation therein, a notice signed by him or her to the effect that registration for the special election will be closed on a date and time designated therein, as provided in this section.
3. The office of the county clerk in each county of this State must be open for such a special election, from 9 a.m. to 12 m. and 1 p.m. to 5 p.m. on Mondays through Fridays, with Saturdays, Sundays and legal holidays excepted, for the registration of any qualified elector.
4. The office of the county clerk must be open for registration of voters for such a special election up to but excluding the 30th day next preceding that election and during regular office hours.
(Added to NRS by 1969, 1584; A 1971, 91; 1973, 559; 1975, 856; 1997, 3476; 2011, 3075; 2019, 4129)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.020 - Ballots: Form.

1. The election officers of the State who are charged with the duty of providing for and conducting the election shall provide printed ballots for the use of the voters entitled to vote at the election. Any bond question may be submitted on the same ballot as otherwise used at the election, if any, or may be submitted by separate ballot, as the commission, board or other agency of the State ordering the submission of the bond question, if any, or otherwise the Secretary of State, may determine.
2. There shall be printed on all ballots:
(a) Instructions respecting the manner of marking the ballots.
(b) A statement of the proposal to be voted upon. No defect in the statement other than in the statement of the maximum amount of the bonds to be authorized shall invalidate the bonds.
[Part 3:70:1937; A 1953, 322]—(NRS A 1971, 92)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.030 - Ballot boxes; mechanical recording devices for voting.

1. The election officers of the State who are charged with the duty of providing for and conducting the election shall provide one ballot box at each polling place for the purpose of the election. If a bond election is held in conjunction with a general election or any other election for other than the submission of the bond question, the same single ballot box must be used at each polling place.
2. Notwithstanding any other provision of NRS 349.010 to 349.070, inclusive, at any bond election thereunder, ballots or votes may be cast, registered, recorded and counted by means of a mechanical recording device, as provided in the election laws of this state.
[Part 3:70:1937; A 1953, 322]—(NRS A 1969, 1585; 1971, 92; 1987, 1378)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.040 - Special election: Appointment and duties of inspectors and clerks; election board and precincts.

1. When a special election is called, on or before 15 days before the date of the election the several boards of county commissioners of this state shall, subject to the provisions of subsection 3, select and appoint suitable persons, who shall be citizens and qualified voters in the State, county and in the precinct where they are appointed, to act as inspectors and clerks of the election.
2. The inspectors and clerks of the election shall:
(a) Be selected, appointed and paid, if payment is claimed, as provided by law; and
(b) Perform such duties in holding the election and in making due return thereof as are required by the general election laws of this state, so far as the same are not inconsistent with or in conflict with the provisions of NRS 349.010 to 349.070, inclusive.
3. Only one election board shall be appointed for each voting precinct in the State. For the purposes of the special election, the several boards of county commissioners, in providing for and proclaiming the election precincts, shall divide their respective counties into any number of voting precincts as they may deem necessary without regard to the number of qualified voters in any one precinct.
[4.5:70:1937; added 1956, 219]
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.050 - Qualifications of electors; absent voting.

1. Every citizen of the United States, 18 years of age or over, who has resided in the State and in the county 30 days next preceding such election, is entitled to vote at the election if he or she has complied with the registration laws of this state.
2. The provisions of the election laws of this state relating to voting by mail shall apply to all bond elections under NRS 349.010 to 349.070, inclusive.
3. Subsection 1 does not exclude the registration of eligible persons whose 18th birthday or the date of whose completion of the required residence occurs on or before the election at which is submitted the proposal for a bond issue or otherwise for the incurrence of a loan under NRS 349.010 to 349.070, inclusive.
[Part 4:70:1937; A 1953, 322; 1955, 162]—(NRS A 1969, 1585; 1971, 92, 1267; 1975, 856)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.060 - Canvass of votes; certification of results; abstract transmitted by county clerk to Secretary of State.

1. Immediately after the closing of the polls, the election officers shall proceed to canvass the ballots.
2. The results disclosed by the canvass shall be certified by the election officers of each county to the county clerk.
3. The board of county commissioners of each county shall open the returns of votes cast, make abstracts of the votes, and cause the county clerk to make a copy of such abstract and to transmit the same to the Secretary of State as provided by the election laws of the State.
[Part 4:70:1937; A 1953, 322; 1955, 162]—(NRS A 1969, 1586)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.070 - Approval or rejection of bonds: Procedure.

1. If a majority of the electors voting on the bond question is in favor of the issuance of the bonds, the proposal to issue them shall have been carried, and the proper officers of the State shall, in the manner provided by law or in the manner expressed in the notice of the election, proceed to complete the printing, execution, advertisement and sale of the bonds.
2. If the majority of the electors voting on the bond question is against the issuance of the bonds, the proposal to issue them shall have failed, and the proper officers of the State shall proceed no further with the printing, execution, advertisement or sale of the bonds, but they shall certify the result of the election to the proper officers, board or governing board of the State.
[Part 4:70:1937; A 1953, 322; 1955, 162]—(NRS A 1971, 94)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.071 - Powers of State Board of Finance.

1. The State Board of Finance may issue and redeem securities on behalf of the State, when such issue is authorized by law, in the manner provided by the State Securities Law.
2. The State Board of Finance constitutes the successor of the State Board of Examiners, the State General Obligation Bond Commission and any similar commission created before April 25, 1967.
3. In connection with any outstanding state securities issued on behalf of the State of Nevada by the State Board of Examiners, the State General Obligation Bond Commission or any such predecessor commission, the State Board of Finance may fund, refund and reissue such securities and may otherwise exercise on behalf of the State the supplemental powers provided in the State Securities Law.
(Added to NRS by 1967, 1380; A 1973, 1471; 1995, 2237)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.072 - State Bond Issuance Account: Creation; appropriations.

There is hereby created in the General Fund in the State Treasury the State Bond Issuance Account to which moneys may be appropriated for the payment of incidental expenses pertaining to state securities and projects relating thereto.
(Added to NRS by 1967, 1380; A 1971, 373; 1973, 1472)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.075 - Definitions.

As used in NRS 349.075 to 349.078, inclusive:
1. "Par" means the principal amount of a security plus the accrued interest thereon from the date of the bonds to the date of delivery and full payment.
2. "Security" means a bond or other evidence of indebtedness.
(Added to NRS by 1967, 218)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.076 - Maximum rate of interest on securities issued by State.

Except as otherwise provided by a specific statute, including, without limitation, NRS 99.067, the rate or rates of interest on securities issued by the State must not exceed by more than 3 percent:
1. For general obligations, the Index of Twenty Bonds; and
2. For special obligations, the Index of Revenue Bonds,
which was most recently published before the bids are received or a negotiated offer is accepted.
(Added to NRS by 1967, 218; A 1969, 1288; 1971, 2110; 1975, 857; 1981, 1399; 1983, 570; 2009, 2659)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.077 - Discounts.

Except as otherwise provided by a specific statute, securities issued by the State may be sold at par, above par or below par at a discount of not more than 9 percent of the principal amount, but the effective interest rate must not exceed the limit provided in NRS 349.076.
(Added to NRS by 1967, 218; A 1969, 1288; 1971, 2110; 1975, 857; 1981, 1399; 1983, 570)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.080 - Purpose of NRS 349.080 to 349.140, inclusive.

The purpose of NRS 349.080 to 349.140, inclusive, is declared to be for the aid of, and not in limitation of, any act existing on March 28, 1939, or which may be enacted after March 28, 1939, providing for the payment of bonds and interest thereon which may have been or may be issued pursuant to any act of the Legislature of the State of Nevada or for any other purpose authorized by the Legislature.
[4:197:1939; 1931 NCL § 7056.03]—(NRS A 2010, 26th Special Session, 8)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.090 - Creation; records of accounting.

There is hereby created in the State Treasury a debt service fund to be known as the Consolidated Bond Interest and Redemption Fund. The State Treasurer shall maintain records of accounting reflecting the current condition of the Fund.
[1:197:1939; 1931 NCL § 7056]—(NRS A 1985, 711)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.100 - Deposits of money in Fund.

All moneys in the State Treasury on March 28, 1939, credited to the account of any bond issue theretofore created by the State of Nevada, and all funds to be received thereafter on account of and for the purpose of any bond issue the redemption of which is pledged by the faith of the people of the State of Nevada, shall be placed in the Consolidated Bond Interest and Redemption Fund.
[2:197:1939; 1931 NCL § 7056.01]
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.110 - Payment of principal, interest and administrative expenses for bonds.

1. After March 28, 1939, so long as there shall be any outstanding bonds in the name of the State of Nevada, the State Treasurer shall make payment for redemption of such bonds, the interest thereon and any bond administrative expenses from the Consolidated Bond Interest and Redemption Fund.
2. As used in this section, "bond administrative expense" means any expense incurred by the State Treasurer, the State Board of Finance, bond trustees, paying agents, arbitrage compliance agents or any other person or entity to administer an interim debenture line of credit, notes or bonds in the name of the State of Nevada, or as otherwise necessary to ensure compliance with state or federal law.
[3:197:1939; 1931 NCL § 7056.02]—(NRS A 1965, 55; 1967, 158; 2020, 31st Special Session, 3; 2021, 674)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.120 - Legislative appropriations from State General Fund.

1. For each biennium, moneys must be provided by direct legislative appropriation from the State General Fund sufficient in amount to meet the bond interest and redemption requirements of the State of Nevada, as designated by the various issues of bonds for which the faith of the State of Nevada has been or may hereafter be pledged. The amount must be determined by the Legislature from time to time so as to effectuate the purposes of NRS 349.080 to 349.140, inclusive.
2. All moneys so appropriated must be placed in the Consolidated Bond Interest and Redemption Fund. All moneys so appropriated and placed are hereby expressly set apart and appropriated to discharge the obligations of the State of Nevada for bond interest and redemption of bonds issued before, on or after March 28, 1939.
[5:197:1939; 1931 NCL § 7056.04]—(NRS A 1957, 232; 1997, 1610)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.130 - Deficiencies in Fund made up from State General Fund.

The moneys provided for by the terms of NRS 349.080 to 349.140, inclusive, to be paid into the Consolidated Bond Interest and Redemption Fund shall, on all occasions, be applied for the purposes of redemption and interest payments on bonds. If any bonds become due for redemption or any interest thereon becomes due when there is an insufficient sum of money in the Consolidated Bond Interest and Redemption Fund, then any such deficiency forthwith shall be appropriated and paid out of the General Fund of the State.
[6:197:1939; 1931 NCL § 7056.05]—(NRS A 1957, 233)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.140 - Effect of NRS 349.080 to 349.140, inclusive.

The provisions of NRS 349.080 to 349.140, inclusive, are not intended to repeal, modify or otherwise affect the obligations of the State of Nevada or the faith thereof, nor the payment of interest and the redemption of bonds which have been issued prior to March 28, 1939, or which may be issued after March 28, 1939, pursuant to any act of the Legislature.
[7:197:1939; 1931 NCL § 7056.06]
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.150 - Short title.

NRS 349.150 to 349.364, inclusive, may be cited as the State Securities Law.
(Added to NRS by 1967, 771; A 1985, 2088; 1993, 2279; 1995, 2237; 1997, 1291, 3012)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.152 - Purpose; supplemental nature.

It is the purpose of the State Securities Law to provide a procedure for financing any projects otherwise authorized by law and for the issuance of securities to evidence or reevidence obligations incurred in connection with any projects. The State Securities Law is supplemental in nature, and nothing herein contained shall be construed as authorizing any particular project nor as authorizing the incurrence of any obligations to defray the cost of any project.
(Added to NRS by 1967, 771)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.154 - Definitions.

The following terms, defined for all purposes of the State Securities Law and of any act amendatory thereof, supplemental thereto, or relating thereto, and of any instrument or document appertaining thereto, unless the context otherwise requires, have the meanings ascribed to them in NRS 349.156 to 349.210, inclusive.
(Added to NRS by 1967, 771)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.156 - "Acquisition" and "acquire" defined.

"Acquisition" or "acquire" includes the opening, laying out, establishment, purchase, construction, securing, installation, reconstruction, lease, gift, grant from the Federal Government, this state, any body corporate and politic therein, or any person, the endowment, bequest, devise, condemnation, transfer, assignment, option to purchase, other contract, or other acquirement, or any combination thereof, of any properties pertaining to a project, or an interest therein.
(Added to NRS by 1967, 771)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.160 - "Commercial bank" defined.

"Commercial bank" means:
1. A state or national bank or trust company that is a member of the Federal Deposit Insurance Corporation, including, without limitation, a branch of the Federal Reserve Bank.
2. A credit union whose deposits are insured by the National Credit Union Share Insurance Fund or by a private insurer approved pursuant to NRS 672.755.
(Added to NRS by 1967, 771; A 1999, 1469)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.162 - "Commission" defined.

"Commission" means the State Board of Finance, any State General Obligation Bond Commission or any other commission, board or other agency of the State which is authorized by law to issue bonds or other securities in the name and on behalf of the State in accordance with the provisions of the State Securities Law, and means any such successor agency of this state.
(Added to NRS by 1967, 771; A 1973, 1472; 1995, 2237)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.164 - "Condemnation" and "condemn" defined.

"Condemnation" or "condemn" means the acquisition by the exercise of the power of eminent domain of property for any project, or an interest therein, herein designated.
(Added to NRS by 1967, 771; A 1985, 276)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.168 - "Cost of any project" defined.

"Cost of any project," or any phrase of similar import, means all or any part designated by the Commission of the cost of any project, or interest therein, which cost at the option of the Commission may include all or any part of the incidental costs pertaining to the project, including without limitation:
1. Preliminary expenses advanced by the State from funds available for use therefor, or advanced by the Federal Government, or from any other source, with the approval of the Commission or any board or other agency of the State responsible for the project or defraying the cost thereof, or any combination thereof;
2. The costs in the making of surveys, audits, preliminary plans, other plans, specifications, estimates of costs and other preliminaries;
3. The costs of premiums on builders’ risk insurance and performance bonds, or a reasonably allocable share thereof;
4. The costs of appraising, printing, estimates, advice, services of engineers, architects, financial consultants, attorneys at law, clerical help or other agents or employees;
5. The costs of making, publishing, posting, mailing and otherwise giving any notice in connection with a project, the filing or recordation of instruments, the taking of options, the issuance of bonds and other securities, and bank fees and expenses;
6. The cost of contingencies;
7. The costs of the capitalization with proceeds of bonds or other securities issued hereunder of any operation and maintenance expenses appertaining to any facilities to be acquired as a project and of any interest on bonds or other securities for any period not exceeding the period estimated by the Commission to effect the project plus 1 year, of any discount on bonds or other securities, and of any reserves for the payment of the principal of and interest on the bonds or other securities, or any replacement expenses, and of any other cost of issuance of the bonds or other securities;
8. The costs of amending any resolution or other instrument authorizing the issuance of or otherwise appertaining to outstanding bonds or other securities of the State;
9. The costs of funding any short-term financing, construction loans and other temporary loans of not exceeding 5 years appertaining to a project and of the incidental expenses incurred in connection with such loans;
10. The costs of any properties, rights, easements or other interests in properties, or any licenses, privileges, agreements and franchises;
11. The costs of demolishing, removing or relocating any buildings, structures or other facilities on land acquired for any project, and of acquiring lands to which such buildings, structures or other facilities may be moved or relocated; and
12. All other expenses necessary or desirable and appertaining to a project, as estimated or otherwise ascertained by the commission.
(Added to NRS by 1967, 772; A 1975, 857)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.169 - "Disposal" and "dispose" defined.

"Disposal" or "dispose" means the sale, destruction, razing, loan, lease, grant, transfer, assignment, option to sell, other contract, or other disposition, or any combination thereof, of facilities, other property, or any interest therein.
(Added to NRS by 1971, 2109)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.1695 - "Equip" and "equipment" defined.

"Equip" or "equipment" means the furnishing of all related or appurtenant machinery, furnishings, apparatus, paraphernalia, and other gear, or any combination thereof, pertaining to any project or other property, or any interest therein.
(Added to NRS by 1971, 2110)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.170 - "Facilities" defined.

"Facilities" means buildings, structures, utilities or other income-producing facilities from the operation of which or in connection with which pledged revenues for the payment of any bonds or other securities issued hereunder are derived, including without limitation any facilities to be acquired with the proceeds of the bonds or securities issued hereunder.
(Added to NRS by 1967, 773)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.180 - "Hereby," "herein," "hereinabove," "hereinafter," "hereinbefore," "hereof," "hereto," "hereunder," "heretofore" and "hereafter" defined.

"Hereby," "herein," "hereinabove," "hereinafter," "hereinbefore," "hereof," "hereto," "hereunder" and any similar term refer to the State Securities Law and not solely to the particular portion thereof in which such word is used; "heretofore" means before the adoption of the State Securities Law; and "hereafter" means after the adoption of the State Securities Law.
(Added to NRS by 1967, 773)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.182 - "Holder" defined.

"Holder," or any similar term, when used in conjunction with any coupons, any bonds or any other securities, means the person in possession and the apparent owner of the designated item if such obligation is registered for payment to bearer or is not registered, or the term means the registered owner of the designated item if it is at the time registered for payment otherwise than to bearer.
(Added to NRS by 1967, 773)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.184 - "Improvement" and "improve" defined.

"Improvement" or "improve" includes the extension, widening, lengthening, betterment, alteration, reconstruction or other major improvement, or any combination thereof, of any properties pertaining to a project or an interest therein, but does not mean renovation, reconditioning, patching, general maintenance or other minor repair.
(Added to NRS by 1967, 774)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.188 - "Operation and maintenance expenses" defined.

1. "Operation and maintenance expenses," or any phrase of similar import, means all reasonable and necessary current expenses of the State, paid or accrued, of operating, maintaining and repairing the facilities or of levying, collecting and otherwise administrating any excise taxes pertaining to the pledged revenues for the payment of the bonds or other securities issued hereunder; and the term may include at the Commission’s option (except as limited by contract or otherwise limited by law), without limiting the generality of the foregoing:
(a) Engineering, auditing, reporting, legal and other overhead expenses of the various state departments directly related and reasonably allocable to the administration of the facilities;
(b) Fidelity bond and property and liability insurance premiums appertaining to the facilities, or a reasonably allocable share of a premium of any blanket bond or policy pertaining to the facilities;
(c) Payments to pension, retirement, health and hospitalization funds and other insurance;
(d) Any taxes, assessments, excise taxes or other charges which may be lawfully imposed on the State, any facilities, revenues therefrom, or any privilege in connection with any facilities or their operation;
(e) The reasonable charges of any paying agent, or commercial bank, trust bank or other depositary bank appertaining to any securities issued by the State or appertaining to any facilities;
(f) Contractual services, professional services, salaries, other administrative expenses, and costs of materials, supplies, repairs and labor, appertaining to the issuance of any state securities and to any facilities, including without limitation the expenses and compensation of any trustee, receiver or other fiduciary under the State Securities Law;
(g) The costs incurred by the Commission in the collection and any refunds of all or any part of the pledged revenues, including without limitation revenues appertaining to any facilities;
(h) Any costs of utility services furnished to the facilities by the State or otherwise;
(i) Any lawful refunds of any pledged revenues;
(j) Reasonable allowances for the depreciation of furniture and equipment for the facilities; and
(k) All other administrative, general and commercial expenses.
2. The term "operation and maintenance expenses" does not include:
(a) Any allowance for depreciation, except as otherwise provided in paragraph (j) of subsection 1 of this section;
(b) Any costs of reconstruction, improvements, extensions or betterments;
(c) Any accumulation of reserves for capital replacements;
(d) Any reserves for operation, maintenance or repair of any facilities;
(e) Any allowance for the redemption of any bond or other state security evidencing a loan or other obligation or for the payment of any interest thereon;
(f) Any liabilities incurred in the acquisition or improvement of any properties comprising any project or any existing facilities, or any combination thereof; and
(g) Any other ground of legal liability not based on contract.
(Added to NRS by 1967, 774)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.192 - "Pledged revenues" defined.

"Pledged revenues" means the moneys pledged wholly or in part for the payment of bonds or other state securities issued in accordance with the provisions of the State Securities Law, and, subject to any existing pledges or other contractual limitations:
1. May include at the Commission’s discretion moneys derived from one, all or any combination of revenue sources 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 State, if any, conditional or unconditional, from the Federal Government for the payment of the principal of, the interest on, and any prior redemption premiums due in connection with any state securities issued hereunder, or any combination thereof; and
3. May so include the proceeds of any excise taxes levied and collected by the State and authorized by law (other than the State Securities Law) to be pledged for the payment of state securities issued in accordance with the provisions of the State Securities Law, but excluding the proceeds of any taxes as defined in NRS 349.204.
(Added to NRS by 1967, 775; A 1971, 2110)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.194 - "Project" defined.

"Project" means any undertaking or undertakings which the Commission is authorized by law (other than the State Securities Law) to complete in its name or in the name of the State, the cost of which the Commission is authorized by law (other than the State Securities Law) to defray by the issuance of bonds or other securities of the Commission or the State as provided hereunder.
(Added to NRS by 1967, 775)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.200 - "State" defined.

"State" means the State of Nevada, or any board, department or other agency or instrumentality thereof. Where the context so indicates, "State" means the geographical area comprising the State of Nevada. "State" does not include the Nevada Rural Housing Authority.
(Added to NRS by 1967, 775; A 1971, 2110; 1995, 815)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.202 - "Taxation" defined.

"Taxation" means the levy and collection of taxes as defined in NRS 349.204, but in NRS 349.354 "taxation" pertains to any type of tax, including, without limitation, any business, occupation or privilege tax, any other excise tax, and any property tax, except for the tax on estates imposed pursuant to the provisions of chapter 375A of NRS and the tax on generation-skipping transfers imposed pursuant to the provisions of chapter 375B of NRS.
(Added to NRS by 1967, 775; A 1969, 1586; 1989, 2107; 1991, 1710)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.208 - "Trust bank" defined.

"Trust bank" means:
1. A commercial bank as defined in NRS 349.160 that is authorized to exercise and is exercising trust powers.
2. A branch of the Federal Reserve Bank.
3. A credit union whose deposits are insured by the National Credit Union Share Insurance Fund or by a private insurer approved pursuant to NRS 672.755 that is authorized to exercise and is exercising trust powers.
(Added to NRS by 1967, 775; A 1999, 1470)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.212 - Powers of State in connection with projects.

In connection with any project, the State, acting by and through the Commission, except as herein otherwise provided, may:
1. Sue and be sued;
2. Acquire and hold real or personal property, or rights or interests therein, and water rights;
3. Dispose of unnecessary or obsolete property, or property obtained for persons or political subdivisions within the State, including without limitation water or water rights, or rights or interests in any such property;
4. Make contracts and execute all instruments necessary or convenient, as determined by the Commission;
5. Acquire by contract or contracts or by its own agents and employees or otherwise acquire any properties for any project or projects, and operate and maintain such properties; and
6. Accept grants of money or materials or property of any kind from the Federal Government, the State, any agency or political subdivision thereof, or any person, upon such terms and conditions as the Federal Government, the State or such agency or political subdivision or person may impose.
(Added to NRS by 1967, 775)
2023 Nevada Revised Statutes › Chapter 349 - State Obligations › NRS 349.213 - Power of eminent domain; reimbursement of public utility for removal and relocation.

1. The Commission may:
(a) Exercise on behalf of the State the power of eminent domain in the manner provided in chapter 37 of NRS, except as herein otherwise provided;
(b) Take any property necessary to carry out any of the objects or purposes concerning such a project, whether the property is already devoted to the same use by any person (but not the Federal Government, the State or any other body corporate and politic); and
(c) Condemn any existing works or improvements of any such person now or hereafter used.
2. The power of eminent domain vested in the Commission includes the power to condemn, in the name of the State, either the fee simple or any lesser estate or interest in any real property which the Commission by resolution determines is necessary for carrying out the purposes hereof. The resolution is prima facie evidence that the taking of the fee simple, easement or other interest, as the case may be, is necessary. The Commission shall not abandon any condemnation proceedings after the date upon which it has taken possession of the property being acquired.
3. If the construction or other acquisition of any project, or any part thereof, makes necessary the removal and relocation of any public utilities, whether on private or public right-of-way, or otherwise, the Commission shall reimburse the owner of the public utility facility for the expense of removal and relocation, including the cost of any necessary land or rights in land, except where the cost of removal and relocation is or has been considered a proper element of just compensation in any settlement by negotiation or in any eminent domain proceeding.
(Added to NRS by 1985, 275)