Nevada § 244A.737 - Application of proceeds; components of cost of project

§ 244A.737. Application of proceeds; components of cost of project

1. The proceeds from the sale of any bonds shall be applied only for the purpose for

which the bonds were issued and if, for any reason, any portion of such proceeds is

not needed for the purpose for which the bonds were issued, such unneeded portion

of such proceeds shall be applied to the payment of the principal of or the interest

on the bonds. 2. The cost of acquiring, improving and equipping any project shall be deemed to include

the actual cost of acquiring and improving a site or the cost of the construction

of any part of a project which may have been constructed, plus the total of all reasonable

or necessary costs incidental to the acquisition, construction, reconstruction, repair,

alteration, improvement, equipment and extension of any project, including, without

limitation: (a) The cost of studies and surveys, and the acquisition of options to purchase any

real or personal property or interest therein; (b) Plans, specifications, architectural and engineering costs; (c) Legal, organization, marketing or other special services; (d) Financing, acquisition, demolition, construction, equipment and site development

of new and rehabilitated buildings; (e) Rehabilitation, reconstruction, repair or remodeling of existing buildings; (f) Acquisition, installation, construction, reconstruction, repair, alteration and

improvement of fixtures, machinery, equipment and furnishings; (g) Acquisition of resources, facilities and supplies, including rights thereto, for

fuel, fuel transportation and water; (h) Working capital and reserves; (i) An initial bond and interest reserve together with interest on bonds issued to

finance such projects to a date 6 months subsequent to the estimated date of completion;

and (j) All other necessary and incidental expenses, including expenses incurred to assist

in meeting the financial demands placed by a project upon the population of, or services

furnished by, this state, a county, city or town, or any political subdivision, agency

or district thereof or created thereby, and capital contributions made by the county

to, or facilities provided by the county for the use of, any corporation or other

legal entity to minimize pollution in the vicinity of the project, if that pollution

relates to the simultaneous operations of the project and the corporation or other

legal entity in those areas. 3. The authorization to expend money for the purposes listed in paragraph (g) of subsection

2 does not preempt the authority of any state regulatory agency which has jurisdiction

over the resources, facilities or supplies to be acquired. 4. In establishing the budget to determine the rate of ad valorem taxation for a particular

taxing entity for a fiscal year, the amount to be paid in that fiscal year by the

county which owns or is financing a project, from the revenues of or the proceeds

of bonds issued for the project, as assistance in meeting the financial demands placed

by the project upon the people of or the services furnished by that taxing entity,

must be offset against the expenditures to be made by the taxing entity in that fiscal

year for those purposes.