Nevada § 349.950 - Issuance of state securities or revenue bonds: Limitation on amount; payment; legislative declaration
Full text of Nevada Nevada Revised Statutes § 349.950 — Issuance of state securities or revenue bonds: Limitation on amount; payment; legislative declaration, with citation guidance and answers to common questions.
§ 349.950. Issuance of state securities or revenue bonds: Limitation on amount; payment; legislative declaration
1. The Director may, to pay the cost of any water project, borrow money or otherwise
become obligated, and may provide evidence of those obligations by issuing, except
as otherwise provided in this subsection, state securities or revenue bonds. If the obligor is not a governmental entity, the Director shall issue only revenue
bonds to fulfill the obligation. 2. Except as otherwise provided in this subsection, state obligations may be outstanding
pursuant to this section in an aggregate principal amount of not more than $200,000,000.
No state obligations, other than refunding obligations, may be issued pursuant to
this section after August 1, 2003. 3. State securities must be payable from taxes and may be additionally secured by
all or any designated revenues from one or more water projects. Any governmental entity statutorily authorized to levy taxes for the payment of
bonded indebtedness may use the proceeds of those taxes to pay the principal of, interest
on and redemption premiums due in connection with state securities issued pursuant
to this section. Any such state securities may be issued without an election or other preliminaries. No state securities may be issued to refund any municipal securities issued to finance
a water project before July 1, 1987. 4. Provisions of NRS 349.150 to 349.364 , inclusive, which are not inconsistent with the provisions of NRS 349.935 to 349.961 , inclusive, apply to the issuance of state securities under this section. Provisions of NRS 349.400 to 349.670 , inclusive, which are not inconsistent with the provisions of NRS 349.935 to 349.961 , inclusive, apply to the issuance of revenue bonds under this section. 5. The Legislature finds and declares that the issuance of state securities pursuant
to NRS 349.935 to 349.961 , inclusive, is necessary for the protection and preservation of the natural resources
of this state and for the purpose of obtaining the benefits thereof, and constitutes
an exercise of the authority conferred by the second paragraph of Section 3 of Article 9 of the Constitution of the State of Nevada .
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 349.950
What does Nevada Revised Statutes § 349.950 cover?
Section 349.950 ("Issuance of state securities or revenue bonds: Limitation on amount; payment; legislative declaration") 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 § 349.950?
A common citation format is "Nevada Revised Statutes § 349.950" (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 § 349.950 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.