Nevada § 333A.0906 - Refunding of obligations: Resolution; purposes

§ 333A.0906. Refunding of obligations: Resolution; purposes

Any obligations of this State issued in accordance with this chapter may be refunded

on behalf of the State by the Board without the necessity of the refunding obligations

being authorized by this chapter by the adoption of a resolution by the Board authorizing

the issuance of obligations to refund, pay and discharge all or any part of such outstanding

obligations of any one or more or all outstanding issues: 1. For the acceleration, deceleration or other modification of the payment of such

obligations, including, without limitation, any interest on such obligations that

is in arrears or about to become due for any period not exceeding 3 years after the

date of the issuance of the refunding obligations, unless the capitalization of interest

on obligations constituting an indebtedness increases the debt of the State in excess

of the limitation set forth in Section 3 of Article 9 of the Nevada Constitution . 2. For the purpose of reducing interest costs or effecting other economies. 3. For the purpose of modifying or eliminating restrictive contractual limitations

appertaining to the issuance of additional obligations, otherwise concerning the outstanding

obligations, or otherwise relating to any operating cost-savings measure appertaining

thereto. 4. For any combination of the purposes set forth in subsections 1, 2 and 3.