1. Chapter 16, Statutes of Nevada 1975, shall not impair or affect any act done, offense committed or right accruing, accrued or acquired, or liability, penalty, forfeiture or punishment incurred prior to July 1, 1975, but the same may be enjoyed, asserted, enforced, prosecuted or inflicted, as fully and to the same extent as if it had not been passed.

2. Chapter 16, Statutes of Nevada 1975, shall not affect the corporate existence of any authority established or operating under the Housing Authorities Law of 1943 or the Housing Law of 1951 prior to July 1, 1975.

3. The passage of chapter 16, Statutes of Nevada 1975, shall not repeal or in any way affect or modify:

(a) Any law authorizing the issuance of any outstanding bonds and other securities by any authority established or operating prior to July 1, 1975, under the Housing Authorities Law of 1943 or the Housing Law of 1951.

(b) Any other contract of any such authority.

(c) Any law pursuant to which there have been levied by or on behalf of any such authority and there have not been paid in full, including without limitation the principal and any interest and penalties, any rents, fees and charges pertaining to the facilities or services, or both facilities and services, provided by any such authority.

(d) The running of the statutes of limitations in force on July 1, 1975.

4. All incomplete proceedings had and taken by any such authority, under any law repealed by chapter 16, Statutes of Nevada 1975, preliminary to and in the acquisition or improvement of any housing project or the issuance of any interim or temporary bond, or any definitive bond, which proceedings are in substantial compliance with the provisions of NRS 315.140 to 315.7813, inclusive, may, at the option of the commissioners of the authority, be completed under the provisions of NRS 315.140 to 315.7813, inclusive, the same as if such incomplete proceedings had been had and taken pursuant to such provisions.

5. The passage of chapter 16, Statutes of Nevada 1975, shall not repeal or in any way affect or modify the power of the commissioners of any authority established or operating under the Housing Authorities Law of 1943 or the Housing Law of 1951 prior to July 1, 1975, concerning the borrowing of money or the acceptance of any grant of public or private money, which power was exercised prior to July 1, 1975.

6. All bonds, notes, contracts, agreements and obligations of authorities relating to financing or undertaking (including cooperating with or acting as agent of the Federal Government in) the development or administration of any project to assure the availability of safe and sanitary dwellings for persons engaged in national defense activities, which bonds, notes, contracts, agreements and obligations were issued or entered into prior to July 1, 1951, are validated and declared legal in all respects, notwithstanding any defect or irregularity therein or any want of statutory authority.

(Added to NRS by 1975, 21; A 1977, 1185)