Nevada § 244A.729 - Determination of costs of financing

§ 244A.729. Determination of costs of financing

1. Prior to the initial leasing, sale or financing of any project, the board shall

by resolution determine: (a) The amount, or reasonably anticipated range of amounts, necessary in each year

to pay the principal of and the interest on the first bonds proposed to be issued

to finance such project and on any subsequent issues of bonds which may be permitted

under the lease, sale or financing and authorizing resolutions pertinent to financings

hereunder. (b) The amount necessary to be paid each year into any reserve funds which the board

may deem advisable to establish in connection with the retirement of the proposed

bonds and the maintenance of the project. (c) The estimated cost of maintaining the project in good repair and keeping it properly

insured, unless the terms under which the project is to be leased, sold or financed

provide that the lessee, purchaser or obligor shall maintain the project and carry

all proper insurance with respect thereto. 2. The determination and findings of the board, required to be made by subsection

1, shall be set forth in the resolution under which the proposed bonds are to be issued,

but the foregoing amounts need not be expressed in dollars and cents in the lease,

agreement of sale or financing agreement and the resolution under which the bonds

are authorized to be issued, but may be set forth in the form of a formula or formulas,

or if the project is for the generation and transmission of electricity, in any other

form which provides a basis for determining the required amounts.