reglab/statecodes huggingface dataset:
Nevada Administrative Code › Chapter 348A - Issuance of Private Activity Bonds › Section 348A.110 - "Special Committee" defined

Current through June 11, 2024
"Special Committee" means the Special Committee to Provide Advice on Private Activity Bonds created pursuant to NAC 348A.280.
Added to NAC by Dep't of Commerce, eff. 2-18-88
NRS 348A.040
Nevada Administrative Code › Chapter 348A - Issuance of Private Activity Bonds › Section 348A.120 - "State agency" defined

Current through June 11, 2024
"State agency" means the Department, any division thereof or any other entity authorized to issue private activity bonds in the name of the State of Nevada or any agency of the State.
Added to NAC by Dep't of Commerce, eff. 2-18-88
NRS 348A.040
Nevada Administrative Code › Chapter 348A - Issuance of Private Activity Bonds › Section 348A.140 - "State estimate of the population" defined

Current through June 11, 2024
"State estimate of the population" means the estimate of the population of the State and its subdivisions published by the Department of Taxation and certified by the Governor pursuant to NRS NRS NRS 360.285.
Added to NAC by Dep't of Commerce, eff. 2-18-88
NRS 348A.040
Nevada Administrative Code › Chapter 348A - Issuance of Private Activity Bonds › Section 348A.150 - "Volume cap" defined

Current through June 11, 2024
"Volume cap" has the meaning ascribed to it in 26 U.S.C. §
								146(b) and (c).
Added to NAC by Dep't of Commerce, eff. 2-18-88
NRS 348A.040
Nevada Administrative Code › Chapter 348A - Issuance of Private Activity Bonds › Section 348A.160 - Determination of volume cap for local government

Current through June 11, 2024
The local population share of a local government in this State will be used to determine the volume cap for that government at the beginning of each calendar year, pursuant to NRS NRS NRS 348A.020.
Added to NAC by Dep't of Commerce, eff. 2-18-88
NRS 348A.040
Nevada Administrative Code › Chapter 348A - Issuance of Private Activity Bonds › Section 348A.165 - Reports to Office of Business Finance and Planning; consideration of whether local government or local agency has abandoned any of its volume cap

Current through June 11, 2024
1. Each local government or local agency which, on or before December 31 of any year, has indicated, through adoption of a resolution or otherwise, that it has used, intends to use or has reserved its entire allocation of volume cap, or a portion thereof, for a specific project or use for that year, or which has carried forward any volume cap in any of the immediately preceding 3 years, shall file a report concerning that year with the Office of Business Finance and Planning of the Department.
2. The report must be filed on or before February 15 of the subsequent year, and set forth with respect to the local government or local agency for the year covered by the report:
(a) The amount and source of its volume cap used during that year for each project and authorized use;
(b) The amount and authorized use of its volume cap carried forward from that year to the subsequent year; and
(c) The amount of its volume cap carried forward from each of the immediately preceding 3 years and available during that year, including:
(1) The amount of such volume cap used during that year;
(2) The amount of such volume cap carried forward to the subsequent year;
(3) The amount of such volume cap abandoned during that year; and
(4) The name of the project or authorized use to which such volume cap relates.
Nevada Administrative Code › Chapter 348A - Issuance of Private Activity Bonds › Section 348A.170 - Augmentation by Director of volume cap for local government

Current through June 11, 2024
1. A local government may apply to the Director for a transfer of any portion of the state ceiling allocated to the Director pursuant to NRS NRS NRS NRS 348A.020, or any augmentation of the Director's allocation. The application must contain such information as the Director may require.
2. The Director will augment the volume cap for any local government only for a specific project.
3. The Director, upon the advice of the Special Committee, may transfer to a local government a portion of the state ceiling assigned as an allocation to or controlled by the Director, upon such terms and conditions as the Director may determine.
4. An allocation made or transferred to a local government by the Director is irrevocable upon the issuance of private activity bonds for the project being financed pursuant thereto to the extent of the principal amount of the bonds so issued. The local government to which the allocation is made or the local agency to which the allocation is transferred for the eventual issuance of private activity bonds may treat all or any portion of the allocation or transfer as a carry forward pursuant to the Code unless the allocation or transfer provides otherwise.
Added to NAC by Dep't of Commerce, eff. 2-18-88
NRS 348A.040
Nevada Administrative Code › Chapter 348A - Issuance of Private Activity Bonds › Section 348A.180 - Transfer of volume cap or local population share by local government

Current through June 11, 2024
1. A local government may, by resolution, transfer to any other local government located within the same county, all or any portion of its volume cap or local population share for a specific project. Any portion that is transferred is subject to the provisions of NAC 348A.220 in the same manner as the local population share of the local government receiving the transfer. A copy of the resolution must:
(a) Be mailed to the Director and the Secretary of the State Board of Finance;
(b) Identify a representative of the local government with whom the Director may communicate regarding the resolution; and
(c) Provide a means of contacting the representative.
Nevada Administrative Code › Chapter 348A - Issuance of Private Activity Bonds › Section 348A.190 - Project by local agency without local population share

Current through June 11, 2024
1. A local agency which does not have a local population share of the state ceiling shall apply to the local government in which the project to be financed is located for use of the local government's local population share for the project.
2. If the project of the local agency requires an augmentation of the local government's local population share, the local government may request an augmentation of its local population share for the project in any manner permitted in this chapter.
Added to NAC by Dep't of Commerce, eff. 2-18-88
NRS 348A.040
Nevada Administrative Code › Chapter 348A - Issuance of Private Activity Bonds › Section 348A.200 - Priority for local government that transfers volume cap

Current through June 11, 2024
The Director will give priority to the issuance of private activity bonds by or on behalf of a local government, in an amount which does not exceed the amount of the volume cap transferred to the Director by the local government in the current calendar year.
Added to NAC by Dep't of Commerce, eff. 2-18-88; A 11-13-90
NRS 348A.040
Nevada Administrative Code › Chapter 348A - Issuance of Private Activity Bonds › Section 348A.210 - Consent required for certain augmentations and transfers

Current through June 11, 2024
No augmentation of the volume cap for or transfer made to a local government pursuant to NAC 348A.170 and 348A.180 may be transferred by the initial recipient to any other local government, state agency or agency of any other state without the written consent of the Director.
Added to NAC by Dep't of Commerce, eff. 2-18-88
NRS 348A.040
Nevada Administrative Code › Chapter 348A - Issuance of Private Activity Bonds › Section 348A.220 - Reversion to Director of volume cap for local government

Current through June 11, 2024
1. After September 1 of any calendar year, the volume cap for the Director will, for the remainder of that calendar year, be augmented by an amount equal to any unused portion of the volume cap assigned for that calendar year to any local government pursuant to chapter 348A of NRS, and augmented pursuant to this chapter, unless the local government adopts a resolution on or before September 1 of that year indicating that it has used, intends to use or has reserved its entire allocation, or a portion thereof, for a specified project or use for the remainder of that calendar year.
2. Any portion of a local government's volume cap allocated for a calendar year which is not committed to a specified project by September 1, or is not sufficiently identified or adequately described in a resolution adopted by the local government, reverts to the Director.
3. A copy of the resolution required by subsection 1 must:
(a) Identify a representative of the local government with whom the Director may communicate regarding the resolution;
(b) Provide a means of contacting that representative;
(c) Be mailed to the Director and Secretary of the State Board of Finance; and
(d) Be received on or before September 15 of the calendar year to which it applies, or the local government's local population share reverts to the Director.
Nevada Administrative Code › Chapter 348A - Issuance of Private Activity Bonds › Section 348A.230 - Transfer of volume cap or state ceiling by Director

Current through June 11, 2024
1. An agency of this State or the agency of any other state which has the authority to issue private activity bonds may apply to the Director for a transfer of a portion of the Director's volume cap or any share of the state ceiling controlled by the Director. The application must contain such information as the Director may require.
2. An application filed pursuant to subsection 1 must be for a specific project.
3. The Director, upon the advice of the Special Committee, may transfer to an applicant a portion of the state ceiling controlled by the Director upon such terms and conditions as the Director may determine.
Added to NAC by Dep't of Commerce, eff. 2-18-88
NRS 348A.040
Nevada Administrative Code › Chapter 348A - Issuance of Private Activity Bonds › Section 348A.240 - Application for issuance of bonds; allocation certificate

Current through June 11, 2024
1. An application for the issuance of private activity bonds by the Director must be submitted on a form approved by the Director. Before any private activity bonds are issued, the Director will execute, issue and file with the Office of Business Finance and Planning and the Secretary of the State Board of Finance an allocation certificate in a form approved by the Secretary in the amount of the bonds to be issued for the benefit of the applicant or the sponsor of the project, reserving a portion of the state ceiling for the project for 45 days after the date of the issuance of the certificate.
2. An allocation certificate issued pursuant to this section may only be extended by the Director, upon the advice of the Special Committee, for a term and under such conditions as he or she determines. An extension will not be granted if it would cause the amount of private activity bonds issued for the calendar year to exceed the state ceiling.
Added to NAC by Dep't of Commerce, eff. 2-18-88; A by Dep't of Business & Industry by R095-05, 10-31-2005
NRS 348A.040
Nevada Administrative Code › Chapter 348A - Issuance of Private Activity Bonds › Section 348A.250 - Director: Determination of state ceiling; notification of local government; posting of information

Current through June 11, 2024
The Director will, at the beginning of each calendar year:
1. Determine the state ceiling for that year, based upon the state estimate of the population;
2. Notify the appropriate representative of each local government of the state ceiling and the amount of the state ceiling allocated to that local government; and
3. Post the information concerning the allocation for each local government on the website of the Office of Business Finance and Planning.
Added to NAC by Dep't of Commerce, eff. 2-18-88; A by Dep't of Business & Industry by R095-05, 10-31-2005
NRS 348A.040
Nevada Administrative Code › Chapter 348A - Issuance of Private Activity Bonds › Section 348A.260 - Certificates: Issuance of bonds; transfer of volume cap

Current through June 11, 2024
1. The Director, any state agency, any local government and any local agency which issues private activity bonds subject to the limitations established in the Code shall file a certificate with the Office of Business Finance and Planning describing the amount of the bonds and the purpose for which they were issued. The certificate must be filed within 15 days after the date on which the bonds are issued.
2. A local government shall or the Director will, within 5 days after transferring any portion of the volume cap of the local government or the allocation of the state ceiling under the control of the Director, file a certificate with the Office of Business Finance and Planning indicating that the transfer was made. The transfer becomes effective on the date on which the certificate is filed with the Office of Business Finance and Planning.
3. If good cause is shown, the Special Committee may grant upon referral from the Director a variance from the provisions of this section if the variance does not cause the amount of private activity bonds issued for the calendar year to exceed the state ceiling.
Added to NAC by Dep't of Commerce, eff. 2-18-88; A by Dep't of Business & Industry by R095-05, 10-31-2005
NRS 348A.040
Nevada Administrative Code › Chapter 348A - Issuance of Private Activity Bonds › Section 348A.270 - Certificates: Official record; duties of Director

Current through June 11, 2024
The official record of all certificates filed pursuant to NAC 348A.260 must be maintained in the Office of Business Finance and Planning. The Director will:
1. File a copy of each certificate executed pursuant to NAC 348A.260 with the Secretary of the State Board of Finance; and
2. Post a copy of each certificate on the website of the Office of Business Finance and Planning.
Added to NAC by Dep't of Commerce, eff. 2-18-88; A by Dep't of Business & Industry by R095-05, 10-31-2005
NRS 348A.040
Nevada Administrative Code › Chapter 348A - Issuance of Private Activity Bonds › Section 348A.280 - Special Committee to Provide Advice on Private Activity Bonds

Current through June 11, 2024
1. The Special Committee to Provide Advice on Private Activity Bonds is hereby created, consisting of the following members:
(a) The Director, who will act as Chair.
(b) The Executive Director of the Commission on Economic Development, or a designee thereof.
(c) The Administrator of the Housing Division of the Department, or a designee thereof.
(d) The Chief of the Office of Business Finance and Planning, who shall act as the ex officio Secretary of the Committee and as the Chair in the Director's absence.
(e) The Director of the Nevada Association of Counties, or a designee thereof.
(f) The Director of the Nevada League of Cities, or a designee thereof.
Nevada Administrative Code › Chapter 348A - Issuance of Private Activity Bonds › Section 348A.290 - Requests for clarification, relief or information

Current through June 11, 2024
Any person who wishes:
1. A clarification of the application of the provisions of this chapter;
2. Relief from the strict application of any provision of this chapter; or
3. Information concerning the procedures for submitting requests to the Director or the Special Committee,
may address a written request therefor as follows:
Attn: Director
Department of Business and Industry
555 East Washington Avenue, Suite 4900
Las Vegas, Nevada 89101-1075
Added to NAC by Dep't of Commerce, eff. 2-18-88; A by Dep't of Business & Industry by R038-02, 6-26-2002
NRS 348A.040
Nevada Administrative Code › Chapter 348A - Issuance of Private Activity Bonds › Section 348A.300 - Fee for allocation of portion of state ceiling

Current through June 11, 2024
1. If a portion of the state ceiling for private activity bonds allocated to or controlled by the Director is assigned, transferred or committed to a recipient or an allocation certificate is issued by the Director, the sponsor of the project shall pay or become obligated to pay to the Director a fee for the allocation of that portion of the state ceiling for private activity bonds in the amount of $600 per $1,000,000 or any fraction thereof of the portion that is the subject of the transfer, assignment, commitment or allocation certificate.
2. The payment must be remitted at the time of:
(a) The assignment or transfer;
(b) The issuance of the allocation certificate; or
(c) The issuance of the bonds,
whichever date of payment is agreed to by the Director and the applicant or recipient.
Nevada Administrative Code › Chapter 349 - State Obligations › REVENUE BONDS FOR INDUSTRIAL DEVELOPMENT › Section 349.010 - Definitions

Current through June 11, 2024
As used in NAC 349.010 to 349.080, inclusive, unless the context otherwise requires, the words and terms defined in NAC 349.012 to 349.019, inclusive, have the meanings ascribed to them in those sections.
Dep't of Commerce, Industrial Development Revenue Bond Reg. § 2, eff. 12-30-81-NAC A by Dep't of Business & Industry by R039-02, 6-26-2002
NRS 349.630
Nevada Administrative Code › Chapter 349 - State Obligations › REVENUE BONDS FOR INDUSTRIAL DEVELOPMENT › Section 349.012 - "Bond facilitator" defined

Current through June 11, 2024
"Bond facilitator" means a person or business entity with special education or experience in the financing of revenue bonds that is hired to provide any or all of the following services:
1. Consultation with applicants or prospective applicants regarding the requirements for issuance of revenue bonds and the making of preliminary assessments regarding eligibility.
2. Management of the application process for the applicant, including the preparation, distribution and review of the application.
3. Management of the process for completing a financing pursuant to the program for the issuance of revenue bonds, including, without limitation, communicating with the finance team, local agencies, underwriters, bond counsel and trustee, reviewing financing documents and coordinating public meetings.
4. Coordination of the activity of all participants in each financing.
Added to NAC by Dep't of Business & Industry by R039-02, eff. 6-26-2002
NRS 349.630
Nevada Administrative Code › Chapter 349 - State Obligations › REVENUE BONDS FOR INDUSTRIAL DEVELOPMENT › Section 349.013 - "Bonds" defined

Current through June 11, 2024
"Bonds" has the meaning ascribed to it in NRS 349.420.
Added to NAC by Dep't of Business & Industry by R039-02, eff. 6-26-2002
NRS 349.630
Nevada Administrative Code › Chapter 349 - State Obligations › REVENUE BONDS FOR INDUSTRIAL DEVELOPMENT › Section 349.016 - "Finance" and "financing" defined

Current through June 11, 2024
"Finance" or "financing" has the meaning ascribed to it in NRS NRS 349.460.
Added to NAC by Dep't of Business & Industry by R039-02, eff. 6-26-2002
NRS 349.630
Nevada Administrative Code › Chapter 349 - State Obligations › REVENUE BONDS FOR INDUSTRIAL DEVELOPMENT › Section 349.018 - "Obligor" defined

Current through June 11, 2024
"Obligor" has the meaning ascribed to it in NRS 349.500.
Added to NAC by Dep't of Business & Industry by R039-02, eff. 6-26-2002
NRS 349.630
Nevada Administrative Code › Chapter 349 - State Obligations › REVENUE BONDS FOR INDUSTRIAL DEVELOPMENT › Section 349.020 - Purpose and objectives

Current through June 11, 2024
The provisions of NAC 349.010 to 349.080, inclusive, are established to effectuate and will be applied so as to accomplish the general purposes of chapter 349 of NRS and the specific objectives of NRS NRS 349.560.
Dep't of Commerce, Industrial Development Revenue Bond Reg. § 2, eff. 12-30-81-NAC A by Dep't of Business & Industry by R039-02, 6-26-2002
NRS 349.630
Nevada Administrative Code › Chapter 349 - State Obligations › REVENUE BONDS FOR INDUSTRIAL DEVELOPMENT › Section 349.025 - Issuance of bonds

Current through June 11, 2024
Any bonds issued pursuant to NAC 349.010 to 349.080, inclusive, must:
1. Be at the lowest cost of capital to the obligor, as measured by a standard true interest cost calculation;
2. Have an interest rate commensurate with the level of risk of the bonds, as determined by the Director; and
3. Have their proposed structure approved by the State Board of Finance.
Added to NAC by Dep't of Business & Industry by R104-08, eff. 12-17-2008
NRS 349.630
Nevada Administrative Code › Chapter 349 - State Obligations › REVENUE BONDS FOR INDUSTRIAL DEVELOPMENT › Section 349.030 - Financing

Current through June 11, 2024
The Department will finance:
1. Construction loans for the interim financing of the new construction, improvement, rehabilitation or redevelopment of a project.
2. Loans for the permanent financing of projects, including their acquisition.
Dep't of Commerce, Industrial Development Revenue Bond Reg. § 4, eff. 12-30-81
NRS 349.630
Nevada Administrative Code › Chapter 349 - State Obligations › REVENUE BONDS FOR INDUSTRIAL DEVELOPMENT › Section 349.033 - Bond facilitators: Availability of, application and conditions for placement on, and removal from list of approved bond facilitators; authority

Current through June 11, 2024
1. The Director may maintain and make available a list of approved bond facilitators to applicants and prospective applicants.
2. A person or business entity may apply to the Director for placement on the list of approved bond facilitators.
3. The Director will place a person or business entity on the list of approved bond facilitators if the person or business entity:
(a) Presents evidence satisfactory to the Director that the person or business entity is qualified by education or experience to assist applicants and prospective applicants in the financing of revenue bonds pursuant to the provisions of NAC 349.010 to 349.080, inclusive; and
(b) Agrees to follow the provisions for bond facilitators as set forth in NAC 349.036.
Nevada Administrative Code › Chapter 349 - State Obligations › REVENUE BONDS FOR INDUSTRIAL DEVELOPMENT › Section 349.036 - Bond facilitators: Duties

Current through June 11, 2024
An approved bond facilitator shall inform:
1. The applicant or prospective applicant, at the earliest time practicable, that the decision to use the services of a bond facilitator is solely that of the applicant or prospective applicant and that the applicant or prospective applicant is not required to use those services in order to apply for or obtain the financing of revenue bonds.
2. The applicant or prospective applicant, at the earliest time practicable, that the bond facilitator acts as the sole agent of the applicant or prospective applicant and does not represent or have any influence over the Director in his or her decision to issue revenue bonds pursuant to the provisions of NAC 349.010 to 349.080, inclusive.
3. The applicant or prospective applicant, at the earliest time practicable, that the Director is not responsible or liable for the acts of the bond facilitator.
4. The Director, upon his or her request, of the financial arrangement between the bond facilitator and the applicant or prospective applicant.
Added to NAC by Dep't of Business & Industry by R039-02, eff. 6-26-2002
NRS 349.630
Nevada Administrative Code › Chapter 349 - State Obligations › REVENUE BONDS FOR INDUSTRIAL DEVELOPMENT › Section 349.045 - Requirements for bonds

Current through June 11, 2024
1. Bonds issued pursuant to NAC 349.010 to 349.080, inclusive, whether tax-exempt or taxable:
(a) If the amount of the requested bonds is $5,000,000 or more, must have a credit enhancement and be sold into the public bond market;
(b) If the amount of the requested bonds is less than $5,000,000, may be:
(1) Sold into the public bond market; or
(2) Privately placed with sophisticated investors if all bond purchase agreements and transaction documents ensure that the bonds are only sold or transferred to other sophisticated investors;
(c) If variable-rate bonds, must:
(1) Use hedging or interest rate protection mechanisms to maintain the interest rate of the bonds within an acceptable range, as determined by the Director, for so long as the bonds are outstanding; and
(2) Have the cost of any hedging or interest rate protection mechanisms fully accounted for when calculating the cost of the bonds for comparison with alternative bond structures;
(d) Must have the proposed costs of bond issuance preapproved by the Director before any preliminary official statement or marketing materials are released; and
(e) Must be for a project which:
(1) Does not have less than 25 percent of its total financing from equity sources;
(2) Maintains its funds from equity sources in the form of cash or other similarly liquid assets; and
(3) Conforms with all applicable environmental and energy-efficiency related federal and state laws and regulations.
Nevada Administrative Code › Chapter 349 - State Obligations › REVENUE BONDS FOR INDUSTRIAL DEVELOPMENT › Section 349.048 - Duties of Director: Determinations of ratio of taxable to tax-exempt bonds; selection of investment banking companies and financial institutions for financing

Current through June 11, 2024
The Director will:
1. Determine the ratio of taxable to tax-exempt bonds that a project may receive, taking into consideration the volume cap for tax-exempt private activity bonds authorized by 26 U.S.C. §
									146;
2. For investment banking services for financing pursuant to NAC 349.010 to 349.080, inclusive:
(a) Establish criteria for use in selecting an investment banking company; and
(b) Based on a competitive selection process, assign an investment banking company for every issuance of publicly sold bonds; and
Nevada Administrative Code › Chapter 349 - State Obligations › REVENUE BONDS FOR INDUSTRIAL DEVELOPMENT › Section 349.050 - Authorized investments

Current through June 11, 2024
The obligor will direct the trustee, if any, of the applicable bond issue, to invest and reinvest the proceeds from the sale of the bonds, subject to the bond certificate, indenture or resolution, in any of the investments listed in subsection 1 of NRS 349.630.
Dep't of Commerce, Industrial Development Revenue Bond Reg. § 6, eff. 12-30-81
NRS 349.630
Nevada Administrative Code › Chapter 349 - State Obligations › REVENUE BONDS FOR INDUSTRIAL DEVELOPMENT › Section 349.070 - Examination of books and records

Current through June 11, 2024
The obligor's books, accounts and other records pertaining to the project must be open to inspection by representatives of the Department during regular business hours. The Department will conduct such examinations of the records as it deems appropriate to determine compliance with chapter 349 of NRS and NAC 349.010 to 349.080, inclusive. The Department may require each obligor to pay the costs of any examination.
Dep't of Commerce, Industrial Development Revenue Bond Reg. § 8, eff. 12-30-81
NRS 349.630
Nevada Administrative Code › Chapter 349 - State Obligations › REVENUE BONDS FOR INDUSTRIAL DEVELOPMENT › Section 349.080 - Requests for clarification, relief or information

Current through June 11, 2024
Any person desiring clarification of NAC 349.010 to 349.080, inclusive, relief from the strict application of any of the terms of those sections or information concerning procedures for dealing with the Department may address a written request to the Director at:
Director of the Department of Business and Industry
901 South Stewart Street, Suite 1003
Carson City, Nevada 89701
Dep't of Commerce, Industrial Development Revenue Bond Reg. § 2, eff. 12-30-81-NAC A by Dep't of Business & Industry by R039-02, 6-26-2002; R104-08, 12-17-2008
NRS 349.630
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › General Provisions › Section 349.100 - Definitions

Current through June 11, 2024
As used in NAC 349.100 to 349.425, inclusive, unless the context otherwise requires, the words and terms defined in NAC 349.105 to 349.190, inclusive, have the meanings ascribed to them in those sections.
Added to NAC by Dep't of Commerce, eff. 4-22-88; A 11-13-90
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › General Provisions › Section 349.105 - "Applicant" defined

Current through June 11, 2024
"Applicant" means the person or legal entity which has the legal authority to represent the obligor of a water project. The term includes any partnership, corporation or business entity qualified to do business in the State of Nevada, any person as defined in NRS 533.010, any municipality, any political subdivision of the State of Nevada, any water district or quasi-governmental agency, any governmental agency, any citizen of the United States, and any public utility, association, trust, estate or other legal entity.
Added to NAC by Dep't of Commerce, eff. 4-22-88
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › General Provisions › Section 349.110 - "Application" defined

Current through June 11, 2024
"Application" means the form used to officially commence proceedings for the financing of a water project pursuant to NRS 349.935 to 349.961, inclusive, and NAC 349.275 to 349.320, inclusive.
Added to NAC by Dep't of Commerce, eff. 4-22-88
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › General Provisions › Section 349.120 - "Cost of water project" defined

Current through June 11, 2024
"Cost of water project" has the meaning ascribed to it in NRS NRS 349.937.
Added to NAC by Dep't of Commerce, eff. 4-22-88
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › General Provisions › Section 349.145 - "Expense of operation and maintenance" defined

Current through June 11, 2024
"Expense of operation and maintenance" has the meaning ascribed to it in NRS 349.939.
Added to NAC by Dep't of Commerce, eff. 4-22-88
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › General Provisions › Section 349.150 - "Letter of intent" defined

Current through June 11, 2024
"Letter of intent" means any written document addressed to the Board to initiate an application pursuant to the requirements of NAC 349.100 to 349.415, inclusive.
Added to NAC by Dep't of Commerce, eff. 4-22-88
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › General Provisions › Section 349.157 - "Municipal obligor" defined

Current through June 11, 2024
"Municipal obligor" means a municipality, political subdivision or state agency that agrees to make the payments sufficient to pay the principal of, premium, if any, and interest on the state securities by issuing to the Director, on behalf of the State, general obligations additionally secured by the revenues of the water project.
Added to NAC by Dep't of Commerce, eff. 11-13-90
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › General Provisions › Section 349.190 - "Water right" defined

Current through June 11, 2024
"Water right" means the legal right to use water which has been appropriated pursuant to chapters 533 and 534 of NRS by means of application, permit, certificate, decree or claim of vested right.
Added to NAC by Dep't of Commerce, eff. 4-22-88
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › General Provisions › Section 349.195 - Requests for clarification, relief or information

Current through June 11, 2024
Any person desiring clarification of any provision of NAC 349.100 to 349.415, inclusive, relief from the strict application of any provision of NAC 349.100 to 349.415, inclusive, or information concerning procedures for submitting any forms or information to the Director may address a written request to the Director at:
Department of Business and Industry
555 East Washington Avenue, Suite 4900
Las Vegas, Nevada 89101-1075
Added to NAC by Dep't of Commerce, eff. 4-22-88; A by Dep't of Business & Industry by R039-02, 6-26-2002
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › General Provisions › Section 349.200 - General criteria and policies for consideration and approval of projects

Current through June 11, 2024
1. Except as otherwise provided in NAC 349.420 and 349.425, the Board and the Director will consider only those water projects which comply with NAC 349.100 to 349.415, inclusive, and the procedures and policies established by the Board related to the planning, selection, financing, construction, acquisition and operation of a project for the management, control, delivery, use or distribution of water necessary to preserve or increase the water available in the State of Nevada for beneficial use.
2. Any water project approved by the Board must encourage:
(a) The development of water facilities which will preserve or increase the water available for beneficial use in this State; and
(b) One or more of the following:
(1) The reduction of damage sustained from floods.
(2) The abatement of pollution.
(3) The preservation and development of fish and wildlife resources.
(4) The protection and improvement of public lands.
(5) The utilization or conservation of the waters of this State for any beneficial use, including, but not limited to, municipal, domestic, agricultural, industrial, mining, instream flows, hydroelectric power, wildlife, and recreational purposes, the conservation of land resources and the protection of the health, safety and general welfare of the people of the State of Nevada.
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › General Provisions › Section 349.205 - General considerations: Effect on existing rights; development of resources in State; expected cost; severability of commitments for loans

Current through June 11, 2024
1. Any proposed water project submitted by an applicant or obligor, other than a municipal obligor, to the Board for its review must not adversely affect or impair existing water rights.
2. Except as otherwise provided in NAC 349.420 and 349.425, the proposed water project must contribute to the optimum development of water resources within the State and must be supported by reliable and persuasive evidence which demonstrates that:
(a) The project would promote the public interests of the State by achieving the objectives set forth in NAC 349.200 and one or more of the priorities set forth in NAC 349.210; and
(b) If the project requires the appropriation or transfer of water rights, the applicant can put the water to beneficial use within a reasonable time or that the applicant has entered into operating agreements with entities which can put the water to beneficial use within a reasonable time.
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › General Provisions › Section 349.210 - Priorities for projects

Current through June 11, 2024
To be eligible for consideration by the Board, any proposed water project must satisfy one or more of the following priorities:
1. Resolve or abate an emergency situation.
2. Provide for the best utilization of surface and ground waters.
3. Promote reclamation.
4. Provide storage.
5. Facilitate offstream storage.
6. Accomplish aquifer recharge.
7. Achieve the acquisition of a site for a reservoir or the protection of a site for a reservoir, or both.
8. Generate or develop benefits from the rehabilitation or modernization of existing facilities or projects.
9. Obtain significant economic, environmental and water conservation benefits directly from the project.
Added to NAC by Dep't of Commerce, eff. 4-22-88
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › Preliminary Procedures › Section 349.215 - Letter of intent: Filing; contents

Current through June 11, 2024
Any applicant or obligor, other than a municipal obligor, who wishes to apply for the financing of a water project must file with the Board a letter of intent. The letter must include:
1. The name, address and telephone number of the applicant or the name, address and telephone number of the obligor or principal representative of the obligor.
2. The title or name, location and a brief description of the proposed water project, including maps or preliminary plans.
3. A preliminary estimate of the cost of the water project and any additional costs necessary for financing the water project.
4. A brief description of the general benefits to be realized by the water project and a statement indicating how the project will contribute to the optimum development of water resources within the State and otherwise promote the public interest of the State by achieving one or more of the priorities listed in NAC 349.210 and the objectives listed in NAC 349.200.
5. A statement of the obligor's willingness to prepare or cause to be prepared any necessary engineering and economic feasibility studies, if the Board determines the water project is feasible.
6. A statement indicating whether an environmental assessment or environmental impact statement is or is not required, if known, and a statement that the obligor will resolve any environmental problems identified in connection with the review of the project which are subject to any state or federal environmental law or regulation.
7. Additional information as required by the Board or its authorized representative to explain fully the intent of the request and to assure that the information required pursuant to subsections 1, 2 and 3 of NAC 349.205 is included with the letter of intent.
Added to NAC by Dep't of Commerce, eff. 4-22-88; A 11-13-90
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › Preliminary Procedures › Section 349.220 - Letter of intent: Address

Current through June 11, 2024
A letter of intent must be addressed to:
Board For Financing Water Projects
Division of Environmental Protection
333 West Nye Lane
Carson City, Nevada 89706-0851
Added to NAC by Dep't of Commerce, eff. 4-22-88; A by Dep't of Business & Industry by R039-02, 6-26-2002
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › Preliminary Procedures › Section 349.225 - Letter of intent: Procedure upon receipt

Current through June 11, 2024
Upon receipt of a letter of intent, the Department will:
1. Record the date of receipt;
2. Maintain an updated file containing all documents and information pertaining to the financing of the proposed water project; and
3. Promptly forward a copy of the letter of intent to the State Engineer, the Nevada State Energy Office for a review to be performed by the State Clearinghouse Coordinator, and the Board for its review.
Added to NAC by Dep't of Commerce, eff. 4-22-88
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › Preliminary Procedures › Section 349.230 - Letter of intent: Forwarding comments to Board; consideration without comments or deferral of action

Current through June 11, 2024
If the Department receives comments from the Nevada State Energy Office within 30 days after forwarding a copy of a letter of intent for a review to be performed by the State Clearinghouse Coordinator, the comments will be forwarded to the Board as soon as practicable. If the Board does not receive comments as a result of such a review within 30 days after receipt of a letter of intent, it may proceed to consider the letter of intent without the review or may defer taking any action until written comments are received from the Department reporting the results of the review.
Added to NAC by Dep't of Commerce, eff. 4-22-88
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › Preliminary Procedures › Section 349.235 - Requesting advice and information from State Engineer

Current through June 11, 2024
The Board may request advice and pertinent information from the State Engineer on the existence and status of any water rights which affect a proposed water project described in a letter of intent.
Added to NAC by Dep't of Commerce, eff. 4-22-88
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › Preliminary Procedures › Section 349.240 - Factors for determination by Board

Current through June 11, 2024
The Board shall consider any letter of intent forwarded from the Department and shall, in a motion or resolution adopted by the Board, determine the following:
1. Whether the obligor is a person or an entity eligible for financing pursuant to NRS 349.941;
2. Whether the obligor has reasonably demonstrated its ability to generate sufficient revenues from the proposed water project or other sources to amortize the requested loan and cost of financing;
3. Whether the benefits of the proposed water project, including social, economic and environmental benefits, are greater than any identifiable or known adverse costs or detriments;
4. Whether the proposed water project, when completed, would conform to all applicable provisions of law; and
5. Whether the proposed water project complies with the policies and criteria set forth in NAC 349.200.
Added to NAC by Dep't of Commerce, eff. 4-22-88
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › Preliminary Procedures › Section 349.245 - Approval of letter; right to prepare and file application

Current through June 11, 2024
If the Board makes the determinations set forth in NAC 349.240 and finds that the proposed water project satisfies the general policies in NAC 349.200 and at least one of the priorities set forth in NAC 349.210, the Board shall approve the letter of intent, and the applicant or obligor may then prepare and file an application pursuant to NAC 349.275.
Added to NAC by Dep't of Commerce, eff. 4-22-88
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › Preliminary Procedures › Section 349.250 - Assistance with preliminary plan and application; issuance of certificate of inducement

Current through June 11, 2024
If the Board has approved a letter of intent, it may request the State Engineer and the Director, within the limits of available resources, to assist the applicant or obligor to prepare a preliminary plan and application. The Board may also request the Director to issue an inducement certificate or other document evidencing an intent to proceed with a comprehensive review of the proposed water project and final consideration of the financing.
Added to NAC by Dep't of Commerce, eff. 4-22-88
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › Preliminary Procedures › Section 349.255 - Disapproval of letter; finality of decision

Current through June 11, 2024
1. If the Board cannot make the determinations required by NAC 349.240 and finds that the letter of intent does not meet any essential requirement of NAC 349.100 to 349.415, inclusive, it shall disapprove the letter of intent, by motion or resolution, and promptly notify the Director and the applicant or obligor of its decision, listing the reasons for disapproval.
2. The Board's decision is final for the purposes of judicial review.
Added to NAC by Dep't of Commerce, eff. 4-22-88
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › Preliminary Procedures › Section 349.260 - Subsequent application after disapproval of letter

Current through June 11, 2024
If a letter of intent is disapproved by the Board, the applicant or obligor may reapply 12 months after the date of disapproval or at such time as permitted by the Board, whichever is earlier.
Added to NAC by Dep't of Commerce, eff. 4-22-88
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › Preliminary Procedures › Section 349.265 - Period for filing application

Current through June 11, 2024
Upon approval of a letter of intent by the Board, the applicant or obligor must file an application for the financing of the proposed water project within 1 year after the date of approval or within a time specified by the Board.
Added to NAC by Dep't of Commerce, eff. 4-22-88
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › Preliminary Procedures › Section 349.270 - Effect of approval of letter

Current through June 11, 2024
The approval of a letter of intent by the Board does not guarantee or assure that any proposed water project will be financed, and only constitutes a preliminary step by which the Board may reasonably determine the likelihood that a viable water project can be developed, necessary permits obtained, and a feasible financial plan presented after an application is filed and processed.
Added to NAC by Dep't of Commerce, eff. 4-22-88
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › Filing, Review and Approval of Applications › Section 349.275 - Submission of application and preliminary plan

Current through June 11, 2024
Except as otherwise provided in NAC 349.420 and 349.425, after a letter of intent for a proposed water project is approved, an application and preliminary plan may be submitted to the Board for review and possible approval, subject to the conditions stated in NAC 349.280 to 349.320, inclusive.
Added to NAC by Dep't of Commerce, eff. 4-22-88; A 11-13-90
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › Filing, Review and Approval of Applications › Section 349.285 - Addressing and filing application

Current through June 11, 2024
The application must be addressed to the Board and filed in the same manner as provided in NAC 349.220.
Added to NAC by Dep't of Commerce, eff. 4-22-88
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › Filing, Review and Approval of Applications › Section 349.290 - Application fee: Payment; use; liability for additional expenses; action by Director

Current through June 11, 2024
1. A nonrefundable application fee of $2,000 or 0.25 percent of the principal amount of the total financing for the water project, whichever is less, must be paid to the Director at the time an application is filed. The Director will use the application fee exclusively to support the operations of his or her office that are in connection with the administration of the provisions of NRS 349.935 to 349.961, inclusive, and any regulations adopted pursuant thereto. For the purpose of calculating the fee charged to the obligor pursuant to subsection 1 of NRS 349.951, the amount of the application fee must be included in the total amount of all fees charged to the obligor by the Director for issuing revenue bonds or state securities.
2. All expenses incurred by the Director in excess of the application fee will be charged to the applicant.
3. The Director will establish the appropriate accounts and procedures for the deposit and expenditure of money received pursuant to this section.
Added to NAC by Dep't of Commerce, eff. 4-22-88; A 7-6-92
NRS 349.946
Nevada Administrative Code › Chapter 349 - State Obligations › FINANCING OF WATER PROJECTS › Filing, Review and Approval of Applications › Section 349.300 - Preparation of data and studies for Board

Current through June 11, 2024
The applicant or obligor, other than a municipal obligor, must acknowledge in writing that the obligor will prepare all necessary data and feasibility studies for presentation of the application and preliminary plan for the proposed water project to the Board for approval.
Added to NAC by Dep't of Commerce, eff. 4-22-88; A 11-13-90
NRS 349.946