reglab/statecodes huggingface dataset:
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.7992 - Formation of nonprofit corporation: Powers of Board of Regents.

The Board of Regents, in the name and on behalf of the System, may:
1. Cause to be formed a nonprofit corporation pursuant to chapter 82 of NRS for the acquisition of real property for the future development and expansion of the University of Nevada, Reno, in Washoe County.
2. Provide the name of the corporation.
3. Specify that it is formed for charitable and educational purposes, subject to the basic object provided therefor in subsection 1.
4. Specify incidental powers which the corporation may exercise, including without limitation:
(a) The power to solicit and receive contributions, gifts, grants, devises and bequests of real and personal property, or any combination thereof;
(b) The powers enumerated in NRS 82.121; and
(c) The power to do all acts and things as may be necessary or convenient or desirable to carry out the objects and purposes for which the corporation is formed.
5. Provide for:
(a) The location and relocation of the principal office of the corporation;
(b) The distribution of its assets, after the liquidation of its obligations, if any, to the System or its Board of Regents, as it may determine, for the benefit of the System upon any dissolution and liquidation of the corporation;
(c) Its perpetual existence;
(d) Its governing body and appointments and reappointments of members thereto; and
(e) The adoption and alteration from time to time of bylaws by the corporation.
(Added to NRS by 1968, 2; A 1969, 1439; 1981, 696; 1991, 1314; 1993, 356)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.7993 - System and Board of Regents not obligated to acquire property from nonprofit corporation.

Neither the System nor the Board of Regents is obligated to acquire from such a nonprofit corporation any property acquired by it, except as is otherwise provided in NRS 396.7998.
(Added to NRS by 1968, 3; A 1969, 1448; 1993, 357)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.7994 - Status of nonprofit corporation on formation.

Such a nonprofit corporation, upon its formation, is:
1. A corporate agency of the System and the Board of Regents;
2. A body corporate and politic; and
3. A political subdivision of this state.
(Added to NRS by 1968, 3; A 1969, 1448; 1993, 357)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.7995 - Limitations on activities of nonprofit corporation.

No part of the activities of such corporation shall consist of carrying on propaganda, or otherwise attempting to influence legislation, or participation or intervention in (including without limitation the publishing or distribution of statements) any political campaign on behalf of any candidate for public office.
(Added to NRS by 1968, 3)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.7997 - Income of nonprofit corporation.

Any income of the corporation shall not inure to any member thereof or to any other private person, partnership or corporation, excluding any payment of the nonprofit corporation’s operation and maintenance expenses, any securities requirements, and any other obligations based on contract or tort.
(Added to NRS by 1968, 3)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.7998 - Beneficial interest of System and Board of Regents in nonprofit corporation.

The System, or the Board of Regents, as it may determine, has the beneficial interest in the corporation while any obligations evidenced by its bonds or other securities remain outstanding. The System or the Board of Regents, as it may determine, may obligate itself to take full legal title to the property of the corporation upon the retirement of its securities.
(Added to NRS by 1968, 3; A 1969, 1448; 1993, 357)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.7999 - Approval of corporate acts by System.

The System, acting by and through the Board of Regents may:
1. Approve the corporation and any securities issued thereby.
2. Do all acts necessary, convenient or desirable, as the Board may determine, to carry out the provisions of this section.
(Added to NRS by 1968, 3; A 1993, 357)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.801 - Formation of nonprofit corporation: Powers of Board of Regents.

The Board of Regents, in the name and on the behalf of the System, may:
1. Cause to be formed a nonprofit corporation pursuant to chapter 82 of NRS for the acquisition of real property for the future development and expansion of the University of Nevada, Las Vegas, in Clark County.
2. Provide the name of the corporation.
3. Specify that it is formed for charitable and educational purposes, subject to the basic object provided therefor in subsection 1.
4. Specify incidental powers which the corporation may exercise, including without limitation:
(a) The power to solicit and receive contributions, gifts, grants, devises and bequests of real and personal property, or any combination thereof;
(b) The powers enumerated in NRS 82.121; and
(c) The power to do all acts and things as may be necessary or convenient or desirable to carry out the objects and purposes for which the corporation is formed.
5. Provide for:
(a) The location and relocation of the principal office of the corporation;
(b) The distribution of its assets, after the liquidation of its obligations, if any, to the System or the Board of Regents, as it may determine, for the benefit of the University of Nevada, Las Vegas, upon any dissolution and liquidation of the corporation;
(c) Its perpetual existence;
(d) Its governing body and appointments and reappointments of members thereto; and
(e) The adoption and alteration from time to time of bylaws by the corporation.
(Added to NRS by 1967, 1342; A 1969, 1439; 1981, 696; 1991, 1315; 1993, 357)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.802 - System and Board of Regents not obligated to acquire property from nonprofit corporation.

Neither the System nor the Board of Regents is obligated to acquire from such a nonprofit corporation any property acquired by it, except as is otherwise provided in NRS 396.807.
(Added to NRS by 1967, 1342; A 1969, 1448; 1993, 358)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.803 - Status of nonprofit corporation on formation.

Such a nonprofit corporation, upon its formation, is:
1. A corporate agency of the System and the Board of Regents;
2. A body corporate and politic; and
3. A political subdivision of this state.
(Added to NRS by 1967, 1342; A 1969, 1448; 1993, 358)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.804 - Limitations on activities of nonprofit corporation.

No part of the activities of such corporation shall consist of carrying on propaganda, or otherwise attempting to influence legislation, or participation or intervention in (including without limitation the publishing or distribution of statements) any political campaign on behalf of any candidate for public office.
(Added to NRS by 1967, 1343)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.806 - Income of nonprofit corporation.

Any income of the corporation shall not inure to any member thereof or to any other private person, partnership or corporation, excluding any payment of the nonprofit corporation’s operation and maintenance expenses, any securities requirements, and any other obligations based on contract or tort.
(Added to NRS by 1967, 1343)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.807 - Beneficial interest of System and Board of Regents in nonprofit corporation.

The System, or the Board of Regents, as it may determine, has the beneficial interest in the corporation while any obligations evidenced by its bonds or other securities remain outstanding and the System or the Board of Regents, as it may determine, may obligate itself to take full legal title to the property of the corporation upon the retirement of its securities.
(Added to NRS by 1967, 1343; A 1969, 1448; 1993, 358)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.808 - Approval of corporate acts by System.

The System, acting by and through the Board of Regents may:
1. Approve the corporation and any securities issued thereby.
2. Do all acts necessary, convenient or desirable, as the Board may determine, to carry out the provisions of this section.
(Added to NRS by 1967, 1343; A 1993, 358)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.810 - Purpose; supplemental nature.

It is the purpose of the University 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 University 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, 3)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.811 - Definitions.

The terms in NRS 396.812 to 396.838, inclusive, defined for all purposes of the University Securities Law and of any act amendatory thereof, supplemental thereto or relating thereto, and of any instrument or document appertaining thereto, except where the context by clear implication otherwise requires, have the meanings herein specified.
(Added to NRS by 1967, 3)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.812 - "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, 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, 3)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.813 - "Board" defined.

"Board" means the Board of Regents of the University of Nevada, constituting the governing body of the State University and a body corporate and politic by the name of the "Board of Regents of the University of Nevada," is a political subdivision of this state, and means any successor governing body of the University.
(Added to NRS by 1967, 3; A 1969, 1440)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.8145 - "Chancellor of the University" defined.

"Chancellor of the University" means the de facto or de jure presiding officer of the System and its Chief Administrative Officer, now designated as the Chancellor of the System, and formerly designated as the Chancellor of the University of Nevada System and the President of the University of Nevada, or his or her successor in functions, if any. "Chancellor of the University" does not mean the chief administrative officer of either the branch of the University in Washoe County or the branch of the University in Clark County, now designated respectively as the "President of the University of Nevada, Reno" and the "President of the University of Nevada, Las Vegas." The latter officer was formerly designated as the "Chancellor of Nevada Southern University." Both of these officers are responsible and subordinate to the Chancellor of the System.
(Added to NRS by 1971, 2126; A 1993, 358)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.815 - "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, 3; A 1999, 1491)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.816 - "Cost of any project" defined.

"Cost of any project," or any phrase of similar import, means all or any part designated by the Board of the cost of any project, or interest therein, which cost at the option of the Board may include all or any part of the incidental costs pertaining to the project, including, without limitation:
1. Preliminary expenses advanced by the University or the Board from funds available for use therefor, or advanced by this state, the Federal Government, or from any other source, with the approval of the Board, 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 costs 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 Board 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, of 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 University or the Board;
9. The costs of funding any medium-term obligations, 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; and
10. All other expenses necessary or desirable and appertaining to a project, as estimated or otherwise ascertained by the Board.
(Added to NRS by 1967, 3; A 1975, 872; 1997, 558)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.8163 - "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, 2126)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.8167 - "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, 2126)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.817 - "Facilities" defined.

"Facilities" means buildings, structures 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, 4)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.820 - "Gross revenues" and "gross pledged revenues" defined.

"Gross revenues" or "gross pledged revenues" means all pledged revenues received by the University or the Board, or both the University and the Board, and pledged for the payment of any securities issued hereunder.
(Added to NRS by 1967, 4)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.821 - "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 University Securities Law and not solely to the particular portion thereof in which such word is used; "heretofore" means before the adoption of the University Securities Law; and "hereafter" means after the adoption of the University Securities Law.
(Added to NRS by 1967, 4)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.822 - "Holder" defined.

"Holder," or any similar term, when used in conjunction with any coupons, any bonds or any other securities issued hereunder, 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, 4)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.823 - "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, 4)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.825 - "Operation and maintenance expenses" defined.

"Operation and maintenance expenses," or any phrase of similar import, means all reasonable and necessary current expenses of the University or the Board, or of both the University and the Board, as the case may be, paid or accrued, of operating, maintaining and repairing the facilities pertaining to the pledged revenues for the payment of the bonds or other securities issued hereunder; and the term may include at the Board’s option (except as limited by contract or otherwise limited by law), without limiting the generality of the foregoing:
1. Legal and overhead expenses of the various university departments directly related and reasonably allocable to the administration of the facilities;
2. Fidelity bond and insurance premiums appertaining to the facilities, or a reasonably allocable share of a premium of any blanket bond or policy pertaining to the facilities;
3. The reasonable charges of any paying agent, or commercial bank, trust bank, or other depository bank appertaining to any securities issued by the University or by the Board or appertaining to any facilities;
4. Contractual services, professional services, salaries, administrative expenses, and costs of labor appertaining to facilities;
5. The costs incurred by the Board in the collection of all or any part of the pledged revenues, including without limitation revenues appertaining to any facilities;
6. Any costs of utility services furnished to the facilities by the University or otherwise; and
7. Reasonable allowances for the depreciation of furniture and equipment for the facilities.
(Added to NRS by 1967, 5)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.826 - "Operation and maintenance expenses": Exclusions from definition.

The term "operation and maintenance expenses" does not include:
1. Any allowance for depreciation, except as otherwise provided in subsection 7 of NRS 396.825;
2. Any costs of reconstruction, improvements, extensions or betterments;
3. Any accumulation of reserves for capital replacements;
4. Any reserves for operation, maintenance or repair of any facilities;
5. Any allowance for the redemption of any bond or other security evidencing a loan or other obligation or the payment of any interest thereon;
6. Any liabilities incurred in the acquisition or improvement of any properties comprising any project or any existing facilities, or any combination thereof; and
7. Any other ground of legal liability not based on contract.
(Added to NRS by 1967, 5)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.828 - "Pledged revenues" defined.

"Pledged revenues" means the money pledged wholly or in part for the payment of bonds or other securities issued hereunder and, subject to any existing pledges or other contractual limitations, may include at the Board’s discretion, all loans, grants or contributions to the University or the Board, if any, conditional or unconditional, from the Federal Government, the State, any public body or other donor for the payment of the principal of, the interest on and any prior redemption premiums due in connection with any securities issued hereunder, or any combination thereof, and may include income or money derived from one, all or any combination of the following sources of revenue, including, without limitation, student fees and other fees, rates and charges appertaining thereto:
1. Dormitories, apartments and other facilities for housing;
2. Cafeterias, dining halls and other facilities for food service;
3. Student union and other facilities for student activities;
4. Store or other facilities for the sale or lease of books, stationery, student supplies, faculty supplies, office supplies and like material;
5. Stadium, arena, theater, field house and other athletic or recreational facilities for use in part by spectators or otherwise;
6. Land and any structures, other facilities, or other improvements thereon used or available for use for the parking of vehicles used for the transportation by land or air of persons to or from such land and any improvements thereon;
7. Properties for providing heat or any other utility furnished by the University or the Board to any facilities on its campus;
8. Investments and reinvestments of unrestricted endowments;
9. Any revenue derived from or otherwise pertaining to the imposition and collection of fees for dental services provided at a facility of the University; and
10. Facilities of the University or the Board, including, without limitation, money from:
(a) Grants by any person or the Federal Government;
(b) Contracts and leases with any person or governmental entity;
(c) The operation of any buildings, structures or other facilities of the University or the Board;
(d) The investment of any money of the Desert Research Institute; and
(e) Any other revenue received by the Desert Research Institute, or by the Board on behalf of the Desert Research Institute pursuant to NRS 396.795 to 396.7956, inclusive.
(Added to NRS by 1967, 5; A 1971, 2120; 1987, 1125; 1999, 2646; 2003, 1617)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.829 - "Pledged revenues": Exclusions from definition.

The term "pledged revenues" does not include any of the following:
1. The proceeds of any tuition charges and registration fees;
2. The principal of any endowments, restricted or unrestricted;
3. The proceeds of any levy of any general (ad valorem) property taxes; and
4. The proceeds of any grants, appropriations or other donations from the Federal Government, this state or any other donor except as otherwise provided in NRS 396.828 and any other statute which may authorize the pledge of particular revenues.
(Added to NRS by 1967, 6; A 1971, 2121; 1979, 359; 2003, 1618)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.831 - "Project" defined.

"Project" means any undertaking or undertakings which the Board is authorized by law (other than NRS 396.809 to 396.885, inclusive) to complete in its name or in the name of the University, the cost of which the Board is authorized by law (other than NRS 396.809 to 396.885, inclusive) to defray by the issuance of bonds or other securities of the Board or the University as provided hereunder.
(Added to NRS by 1967, 6)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.834 - "State" defined.

"State" means the State of Nevada, or any board, department or other agency or instrumentality thereof, in the United States; and where the context so indicates, "State" means the geographical area comprising the State of Nevada.
(Added to NRS by 1967, 6; A 1971, 2121)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.835 - "Treasurer of the University" defined.

"Treasurer of the University" means the de facto or de jure Treasurer of the Board and ex officio Treasurer of the System, or his or her successor in functions, if any.
(Added to NRS by 1967, 6; A 1969, 1440; 1993, 358)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.836 - "Trust bank" defined.

"Trust bank" means:
1. A commercial bank 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, 6; A 1999, 1491)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.838 - "University" defined.

"University" means the Nevada System of Higher Education, the State University constituting a body corporate and politic, a political subdivision of this State, with the seat located in the City of Reno, in the County of Washoe and State of Nevada.
(Added to NRS by 1967, 7; A 1969, 1440; 1993, 358; 2005, 362)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.839 - Bonds and other securities are special obligations payable solely out of net pledged revenues.

1. Any bonds or other securities issued hereunder, together with any interest accruing thereon and any prior redemption premiums due in connection therewith, shall be payable and collectible solely out of net pledged revenues; the holder or holders thereof may not look to any general or other fund for such payment of such securities, except the net revenues pledged therefor; the securities shall not constitute an indebtedness or a debt within the meaning of any constitutional or statutory provision or limitation, if any such limitation appertains thereto; the bonds or other securities shall not be considered or held to be general obligations of the University or the Board but shall constitute the special obligations of either the University or the Board; and the Board shall not pledge the full faith and credit for their payment of either the University or the Board.
2. None of the covenants, agreements, representations and warranties contained in any resolution authorizing the issuance of bonds or other securities hereunder or in any other instrument appertaining thereto, in the absence of any breach thereof, shall ever impose or shall be construed as imposing any liability, obligation or charge against the University or the Board (except the special funds pledged therefor) or against the general credit of either the University or Board, payable out of the general fund of either, or out of any funds derived from taxation.
(Added to NRS by 1967, 7)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.8395 - Revenues which may be included as pledged revenues.

Subject to any existing pledges or other contractual limitations and to the provisions of NRS 396.810:
1. The Board may include, without limitation, as pledged revenues for the payment of bonds or other securities issued hereunder:
(a) The gross revenues derived from the fees designated as the capital improvement fee, the student union building fee, the student center building fee, and the student union capital improvement fee, or words of similar import, except for the words pertaining to any such fee designating the campus or campuses of the System to which the pledged fee or fees pertain, or any combination thereof; and
(b) The gross revenues derived from the fee designated as the general fund fee, except for the words pertaining thereto designating the campus or campuses of the system to which the pledged fee pertains, but subject to the limitation stated in subsection 5 of NRS 396.840.
2. The Board may also include, without limitation, as pledged revenues for the payment of bonds or other securities issued hereunder, regardless of the location of the campus or campuses on which the project or projects are to be done for which the securities are authorized, the pledged revenues designated in subsection 1 pertaining to:
(a) One, all or any combination of the campuses relating to the community colleges if the project or projects relate thereto and to one or more campuses thereof; or
(b) Either or both the University of Nevada, Reno, and the University of Nevada, Las Vegas, if the project or projects relate to either of those campuses, the Desert Research Institute or any combination thereof.
(Added to NRS by 1979, 359; A 1987, 1126; 1993, 359)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.841 - Payment of securities not to be secured by encumbrance, mortgage or pledge of property; exception.

The payment of securities shall not be secured by an encumbrance, mortgage or other pledge of property of the University or the Board, except for the pledged revenues of the University or the Board. No property of either the University or the Board, subject to such exception, shall be liable to be forfeited or taken in payment of securities.
(Added to NRS by 1967, 8)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.842 - Recourse against individual Regents: Acceptance of securities constitutes waiver and release.

No recourse shall be had for the payment of the principal of, any interest on, and any prior redemption premiums due in connection with any bonds or other securities of the University or the Board or for any claim based thereon or otherwise upon the resolution authorizing their issuance or other instrument appertaining thereto, against any individual Regent of the Board, past, present or future, either directly or indirectly through the Board or the University, or otherwise, whether by virtue of any Constitution, statute or rule of law, or by the enforcement of any penalty or otherwise, all such liability, if any, being by the acceptance of the securities and as a part of the consideration of their issuance specially waived and released.
(Added to NRS by 1967, 8; A 1975, 872)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.843 - Bonds and other securities not obligations of or enforceable against State; restrictions on pledges, assignments and encumbrances.

1. Any bonds or other securities issued hereunder shall not be considered to be obligations general, special or otherwise of the State, nor to be securities or debt of the State, and shall not be enforceable against the State.
2. Nothing in the University Securities Law shall be construed to authorize the University or the Board in any way to obligate the State (except as herein otherwise expressly provided in NRS 396.844), or to pledge, assign or encumber in any way, or to permit the pledging, assigning or encumbering in any way, of any tuition charges and registration fees paid to the University or the Board, of the proceeds of any general (ad valorem) property taxes derived directly or indirectly by the University or the Board for the benefit of the University, of any income or gain derived from the investment and reinvestment of moneys accounted for in either the Irreducible University Fund or the Contingent University Fund, of grants, appropriations or other donations made by the Federal Government, the State Legislature or any other donor (except for the interest or other gain derived from the investment and reinvestment of the principal of unrestricted endowments, as permitted by subsection 8 of NRS 396.828), and of any revenues derived from the operation of or otherwise appertaining to any buildings, structures or other facilities of the Board or University (except for those classifications thereof designated in subsections 1 to 6, inclusive, of NRS 396.828).
(Added to NRS by 1967, 8)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.844 - Faith of State pledged against repeal, amendment or modification of University Securities Law.

1. The faith of the State is hereby pledged that the University Securities Law, any law supplemental or otherwise appertaining thereto, and any other act concerning the bonds and other securities of the Board or the University or the pledged revenues, or both such securities and such revenues, shall not be repealed nor amended or otherwise directly or indirectly modified in such a manner as to impair adversely any outstanding securities of the University or the Board, until all such securities payable from the pledged revenues have been discharged in full or provision has been fully made therefor, including without limitation the known minimum yield from the investment or reinvestment of moneys pledged therefor in federal securities.
2. The State may at any time provide by act that no further obligations appertaining to any pledged revenues or any part thereof shall be incurred thereafter.
(Added to NRS by 1967, 9)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.845 - Power of University or Regents to become obligated and issue securities for project; other powers.

1. Where any project is otherwise authorized by law and where the University or the Board is otherwise authorized by law to issue its securities to defray the cost of the project, at any time or from time to time the University or the Board may borrow money or otherwise become obligated for the project and may evidence any such obligation by the issuance of the University’s or the Board’s securities.
2. In connection with any project so authorized, the University or the Board, except as herein otherwise provided, may:
(a) Have a corporate seal and alter the same at pleasure;
(b) Sue and be sued;
(c) Acquire and hold real or personal property, or rights or interests therein, and water rights;
(d) Dispose of unnecessary or obsolete property, or rights or interests therein;
(e) Make contracts and execute all instruments necessary or convenient, as determined by the Board;
(f) Acquire by contract or contracts or by its own agents and employees, or otherwise acquire any properties as any project or projects so authorized, and operate and maintain such properties; and
(g) 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, 9)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.8455 - Board of Regents authorized to delegate its authority to sign contract for purchase of securities or to accept bid for securities; certain terms of securities must be approved by Board of Regents.

1. The Board may, before any sale of securities, whether by competitive bid or negotiated sale, delegate to the Chancellor of the University or the Vice Chancellor for Finance of the University the authority to sign a contract for the purchase of the securities or to accept a binding bid for the securities subject to the requirements specified by the Board concerning:
(a) The rate of interest on the securities;
(b) The dates on which and the prices at which the securities may be called for redemption before maturity;
(c) The price at which the securities will be sold; and
(d) The principal amount of the securities and the amount of principal maturing in any particular year.
2. All terms of the securities other than:
(a) The rate of interest;
(b) The dates and prices for the redemption of the securities;
(c) The price for the sale of the securities;
(d) The principal amount of the securities; and
(e) The requirements for the principal maturing in particular years,
must be approved by the Board before the securities are delivered.
3. The final rate of interest, dates and prices of redemption, price for the sale of the securities, principal amount and the requirements for the principal amount maturing in particular years are not required to be approved by the Board if each of those terms complies with the requirements specified by the Board before the contract for the purchase of the securities is signed or the bid for the securities is accepted.
(Added to NRS by 2001, 2647)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.846 - Types of securities which may be issued; series.

The University or the Board may issue in one series or more, without their being authorized at any election, in anticipation of net pledged revenues, and constituting special obligations of the University or the Board, any one or more or all of the following types of securities:
1. Notes, evidencing any amount borrowed by the University or the Board;
2. Warrants, evidencing the amount due to any person for any services, or supplies, equipment or other materials furnished to the University or the Board for the benefit of the University and appertaining to an authorized project;
3. Bonds, evidencing any amount borrowed by the University or the Board and constituting long-term financing;
4. Temporary bonds, pending the preparation of and exchangeable for definitive bonds of like character and in principal amount when prepared and issued in compliance with the conditions and limitations herein provided; and
5. Interim debentures, evidencing any emergency loans, construction loans, and other temporary loans of not exceeding 3 years, in supplementation of long-term financing and the issuance of bonds, as provided in NRS 396.868 to 396.871, inclusive.
(Added to NRS by 1967, 10)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.847 - Notes and warrants: Maturity; extension or funding.

Notes and warrants may mature at such time or times not exceeding 1 year from the date or the respective dates of their issuance as the Board may determine. They shall not be extended or funded except by the issuance of bonds or interim debentures in compliance with NRS 396.868 and other provisions herein supplemental thereto.
(Added to NRS by 1967, 10)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.848 - Temporary bonds: Conditions, terms and provisions; holder’s rights and remedies.

Each temporary bond shall set forth substantially the same conditions, terms and provisions as the definitive bond for which it is exchanged. Each holder of a temporary bond shall have all the rights and remedies which he or she would have as a holder of the definitive bond for which the temporary bond is to be exchanged.
(Added to NRS by 1967, 10)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.8495 - Resolution authorizing issuance of securities may fix rate of interest; Board of Regents authorized to enter into agreement for assurance of payment in connection with securities; exemption from limitation on rates of interest.

1. The resolution authorizing the issuance of any securities or any trust indenture or other instrument appertaining thereto may fix a rate or rates of interest or provide for the determination of the rate or rates from time to time by a designated agent according to the procedure specified in that resolution or other instrument. The rate so determined must approximate the rates then being paid for other securities which contain similar provisions and have an equivalent rating. The Board may contract with or select any person to make that determination.
2. The Board may enter into an agreement with a third party for an assurance of payment of the principal of, the interest on, or premiums, if any, due in connection with any securities issued by the Board. The obligation of the Board to reimburse that third party for any advances made pursuant to that agreement may be provided in that agreement, recited in those securities or evidenced by another instrument as designated in the resolution authorizing the issuance of those securities or any other instrument appertaining thereto. The Board may assign its rights under that agreement.
3. In fixing the rate or rates of interest for securities pursuant to subsection 1 or the rate or rates of interest imposed on the Board for reimbursement of any advances made under an agreement pursuant to subsection 2, the Board is not subject to any limitations on rates of interest provided by statute, including, without limitation, NRS 396.852. The resolution fixing that rate or rates of interest must contain the findings of the Board that the procedure specified therein for determining that rate or rates is reasonable under existing or anticipated conditions in the market and is necessary and advisable for marketing the securities. These findings are conclusive. This section does not prohibit the Board from fixing a maximum rate of interest.
(Added to NRS by 2001, 2647)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.850 - Details of securities provided by resolution.

Except as herein otherwise provided and as otherwise provided in any other act the provisions of which are relevant by express reference herein thereto, any securities issued hereunder must be:
1. In such form;
2. Issued in such manner, at, above or below par at such a discount not exceeding 9 percent of the principal amount of the securities, at public or private sale, and at a price which will result in an effective interest rate which does not exceed by more than 3 percent the Index of Revenue Bonds which was most recently published before the bids are received or a negotiated offer is accepted; and
3. Issued with such recitals, terms, covenants, conditions and other provisions,
as may be provided by the Board in a resolution authorizing their issuance and in any indenture or other proceedings appertaining thereto.
(Added to NRS by 1967, 10; A 1969, 1298; 1971, 2120; 1975, 873; 1981, 1416; 1983, 584)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.851 - Recital in securities conclusive evidence of validity and regularity of issuance.

A resolution providing for the issuance of bonds or other securities hereunder or an indenture or other proceedings appertaining thereto may provide that the securities contain a recital that they are issued pursuant to the University Securities Law, which recital shall be conclusive evidence of their validity and the regularity of their issuance.
(Added to NRS by 1967, 11)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.852 - Denomination, negotiability and maturity of securities; interest and interest coupons.

1. Except as otherwise provided in this section and NRS 99.067, as the Board may determine, any bonds and other securities issued hereunder must:
(a) Be of a convenient denomination or denominations;
(b) Be fully negotiable within the meaning of and for all the purposes of the Uniform Commercial Code—Investment Securities;
(c) Mature at such time or serially at such times in regular numerical order at annual or other designated intervals in amounts designated and fixed by the Board, but not exceeding 50 years from their date;
(d) Bear interest at a rate or rates which do not exceed by more than 3 percent the Index of Revenue Bonds which was most recently published before the bids are received or a negotiated offer is accepted, the interest on each bond to be payable annually, semiannually, or at other designated intervals, but the first interest payment date may be for interest accruing for any other period;
(e) Be made payable in lawful money of the United States, at the office of the Treasurer of the University or any commercial bank or commercial banks within or without or both within and without the State as may be provided by the Board; and
(f) Be printed at such place within or without this state, as the Board may determine.
2. Any bonds issued hereunder must have one or two sets of interest coupons, bearing the number of the bond to which they are respectively attached, numbered consecutively in regular numerical order, and attached in such a manner that they can be removed upon the payment of the installments of interest without injury to the bonds, except as herein otherwise provided.
(Added to NRS by 1967, 11; A 1969, 1298; 1971, 2121; 1975, 873; 1981, 1416; 1983, 584; 2009, 2661)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.853 - Execution, signing, countersigning and authentication of securities and coupons; facsimile signature.

1. Bonds and other securities issued hereunder shall be executed in the name of the University or the Board, shall be signed by the Chair of the Board, shall be attested by the Secretary of the Board, shall be countersigned by the Chancellor of the University, and shall be countersigned by the Treasurer of the University; and the bonds or other securities shall be authenticated by the official seal of the University or the Board. Any coupons shall be signed by the Treasurer of the University. Facsimile signatures may be used on any coupons.
2. Any bonds or other securities, including without limitation any certificates endorsed thereon, may be executed as provided in the Uniform Facsimile Signatures of Public Officials Act, cited as chapter 351 of NRS. (A compliance therewith is not a condition precedent to the execution of any coupon with a facsimile signature.)
3. The bonds, any coupons appertaining thereto, and other securities, bearing the signatures of the officers in office at the time of the signing thereof, shall be the valid and binding obligations of the University or the Board, as the case may be, notwithstanding that before the delivery thereof and payment therefor, any or all of the persons whose signatures appear thereon have ceased to fill their respective offices.
4. Any officer authorized or permitted to sign any bonds, any coupons, or any other securities, at the time of their execution and of a signature certificate appertaining thereto, may adopt as and for his or her own facsimile signature the facsimile signature of his or her predecessor in office in the event that such facsimile signature appears upon the bonds, coupons and other securities appertaining thereto, or any combination thereof.
(Added to NRS by 1967, 11; A 1969, 1441)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.854 - Redemption before maturity.

The Board may provide for the redemption of any or all of the bonds or other securities before maturity, in such order, by lot or otherwise, at such time or times, without or with the payment of such premium or premiums not exceeding 9 percent of the principal amount of each bond or other security so redeemed, and otherwise upon such terms as may be provided by the Board in the resolution authorizing the issuance of the securities or other instrument appertaining thereto.
(Added to NRS by 1967, 12; A 1971, 2122; 1975, 873; 1981, 1416)