Nevada § 244A.701 - Project for generation and transmission of electricity: Studies, surveys and options

§ 244A.701. Project for generation and transmission of electricity: Studies, surveys and options

A county may issue bonds to finance solely the costs of studies, surveys and options

with respect to a project for the generation and transmission of electricity. Before doing so, the county shall arrange for the repayment of those costs under an

agreement or agreements which may provide for the purchase by the obligor or obligors

thereunder of the studies, surveys and options through payments sufficient to pay

the principal of and interest on the bonds issued to finance those costs if and to

the extent the principal of and interest on such bonds are not paid from the proceeds

of additional bonds issued to finance the remaining costs of the project. If the obligor or obligors decide that the project is not feasible, they shall pay

the costs of the studies, surveys and options within 1 year. Such agreements may also include a commitment or agreement by the county to enter

into contracts at a later date for the sale of all or part of the capacity of the

project to or for the use of the transmitting facilities of the project by the obligors

and for the construction and operation of such project by one or more purchasers of

capacity of the project. The terms and provisions of such contracts to be executed at a later date must be

approved by the board of county commissioners at the time of or before the first issuance

of bonds.