Nevada § 377A.100 - Ordinances or resolutions for issuance of certain bonds or other securities: Authorized covenants; pledged revenues

§ 377A.100. Ordinances or resolutions for issuance of certain bonds or other securities: Authorized covenants; pledged revenues

1. Each ordinance or resolution providing for the issuance of any bond or security

issued under this chapter payable from the receipts of the tax imposed pursuant to

paragraph (b) of subsection 1 of NRS 377A.030 may, in addition to covenants and other provisions authorized in the Local Government

Securities Law, contain a covenant or other provision to pledge and create a lien

upon the receipts of the tax or upon the proceeds of any bond or security pending

their application to defray the cost of establishing or operating a public transit

system, constructing, maintaining or repairing public roads or improving air quality,

or both tax proceeds and security proceeds, to secure the payment of any bond or security

issued under this chapter. 2. Each ordinance providing for the issuance of any bond or security issued under

this chapter payable from the receipts of the tax imposed pursuant to paragraph (d)

of subsection 1 of NRS 377A.030 may, in addition to covenants and other provisions authorized in the Local Government

Securities Law, contain a covenant or other provision to pledge and create a lien

upon: (a) The receipts of the tax; (b) The proceeds of any bond or security pending their application to defray the cost

of acquiring, developing, constructing, equipping, operating, maintaining, improving

and managing libraries, parks, recreational programs and facilities, and facilities

and services for senior citizens, and for preserving and protecting agriculture, or

for any combination of those purposes; or (c) Both tax proceeds and security proceeds, to secure the payment of any bond or security issued under this chapter. The provisions of this subsection do not authorize the board of county commissioners

of a county to obtain money to acquire, develop, construct, equip, operate, maintain,

improve and manage recreational programs by the issuance of bonds. 3. Any money pledged to the payment of bonds or other securities pursuant to subsection

1 or 2 may be treated as pledged revenues of the project for the purposes of subsection

3 of NRS 350.020 .