1. When a contract has been or may hereafter be made with the United States, bonds of the district may be transferred to or deposited with the United States, if so provided by the contract and authorized as set forth in this chapter, at not less than 95 percent of their par value at the amount or any part thereof to be paid by the district to the United States.
2. The interest on or principal of the bonds, or both, must be raised by assessment and levy as prescribed in this chapter and be regularly paid to the United States and applied as provided in the contract.
3. Bonds transferred to or deposited with the United States may call for the payment of that interest, which must not exceed by more than 5 percent the Index of Revenue Bonds which was most recently published before the bids are received or a negotiated offer is accepted, may be of such denomination, and may call for the repayment of the principal at such times as may be agreed upon between the board and the Secretary of the Interior.
[Part 55:64:1919; 1919 RL p. 3288; NCL § 8073] — (NRS A 1971, 2126; 1975, 875; 1981, 1418; 1983, 586; 1985, 2061)
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.