NRS 350.5755 - Issuance of negotiable notes or bonds to finance restoration of historic structure; maturity; interest.

NV Rev Stat § 350.5755 (2019) (N/A)

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1. Whenever the governing body of any municipality is authorized to enter into financing for restoration of a historic structure, as provided in NRS 350.575, the governing body may issue, as evidence thereof, negotiable notes or bonds.

2. The negotiable notes or bonds must:

(a) Mature not later than 15 years after the date of issuance.

(b) Bear interest at a rate or rates which do not exceed by more than 3 percent the Index of Twenty Bonds which was most recently published before the bids are received or a negotiated offer is accepted.

(Added to NRS by 1985, 2178)

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NRS 350.575 - Resolution to finance preservation or restoration of historic structure; approval of Executive Director of Department of Taxation; appeal to Nevada Tax Commission.

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NRS 350.576 - Temporary bonds: Conditions, terms and provisions; holder’s rights and remedies.

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