Nevada § 349.324 - Interim debentures: Security for payment
Full text of Nevada Nevada Revised Statutes § 349.324 — Interim debentures: Security for payment, with citation guidance and answers to common questions.
§ 349.324. Interim debentures: Security for payment
1. Except as otherwise provided in NRS 349.320 , the proceeds of taxes, pledged revenues and other money, including without limitation
proceeds of bonds to be issued or reissued after the issuance of interim debentures,
and bonds issued to secure the payment of interim debentures, or any combination thereof,
may be pledged to secure the payment of interim debentures; but the proceeds of taxes
and the proceeds of bonds payable from taxes, or any combination thereof, must not
be used to pay any special obligation interim debentures nor may their payment be
secured by a pledge of any such general obligation bonds. 2. Any bonds pledged as collateral security for the payment of any interim debentures
must mature at such time or times as the Commission may determine, except as otherwise
provided in subsections 3 and 4 of NRS 349.276 . 3. Any bonds pledged as collateral security must not be issued in an aggregate principal
amount exceeding the aggregate principal amount of the interim debenture or interim
debentures secured by a pledge of such bonds, nor shall they bear interest at any
time which, with any interest accruing at the same time on the interim debenture or
interim debentures so secured, exceeds the rate permitted on the debenture or debentures
secured, computed from the appropriate index which was most recently published before
the bids are received or a negotiated offer is accepted.
Frequently Asked Questions About Nevada § 349.324
What does Nevada Revised Statutes § 349.324 cover?
Section 349.324 ("Interim debentures: Security for payment") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 349.324?
A common citation format is "Nevada Revised Statutes § 349.324" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 349.324 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.