1. Each ordinance or resolution providing for the issuance of any bond or security issued under this chapter payable from the receipts of the tax imposed pursuant to paragraph (b) of subsection 1 of NRS 377A.030 may, in addition to covenants and other provisions authorized in the Local Government Securities Law, contain a covenant or other provision to pledge and create a lien upon the receipts of the tax or upon the proceeds of any bond or security pending their application to defray the cost of establishing or operating a public transit system, constructing, maintaining or repairing public roads or improving air quality, or both tax proceeds and security proceeds, to secure the payment of any bond or security issued under this chapter.
2. Each ordinance providing for the issuance of any bond or security issued under this chapter payable from the receipts of the tax imposed pursuant to paragraph (d) of subsection 1 of NRS 377A.030 may, in addition to covenants and other provisions authorized in the Local Government Securities Law, contain a covenant or other provision to pledge and create a lien upon:
(a) The receipts of the tax;
(b) The proceeds of any bond or security pending their application to defray the cost of acquiring, developing, constructing, equipping, operating, maintaining, improving and managing libraries, parks, recreational programs and facilities, and facilities and services for senior citizens, and for preserving and protecting agriculture, or for any combination of those purposes; or
(c) Both tax proceeds and security proceeds,
to secure the payment of any bond or security issued under this chapter. The provisions of this subsection do not authorize the board of county commissioners of a county to obtain money to acquire, develop, construct, equip, operate, maintain, improve and manage recreational programs by the issuance of bonds.
3. Any money pledged to the payment of bonds or other securities pursuant to subsection 1 or 2 may be treated as pledged revenues of the project for the purposes of subsection 3 of NRS 350.020.
(Added to NRS by 1981, 1650; A 1985, 736; 1991, 41; 1993, 1075; 1997, 2974; 2003, 956; 2005, 1400; 2011, 3322)
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