The issuer on behalf of the borrowing local government may issue revenue securities in order to finance a facility. The revenue securities and the interest must be repaid solely from:
1. The proceeds of the revenue securities and interest earned;
2. Revenues of any facility financed with the revenue securities;
3. Repayments of loans to borrowing local governments made with the proceeds of the revenue securities;
4. Rentals or payments for installment purchases made with respect to facilities financed with revenue securities; and
5. The proceeds of the sale of any facility financed with the proceeds of the revenue securities or any part of it.
Repayment may be additionally secured by a mortgage, security interest or other encumbrance on a facility financed with the revenue securities.
(Added to NRS by 1987, 1620)
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