Nevada § 396.852 - Denomination, negotiability and maturity of securities; interest and interest coupons

§ 396.852. Denomination, negotiability and maturity of securities; interest and interest coupons

1. Except as otherwise provided in this section and NRS 99.067 , as the Board may determine, any bonds and other securities issued hereunder must: (a) Be of a convenient denomination or denominations; (b) Be fully negotiable within the meaning of and for all the purposes of the Uniform

Commercial Code--Investment Securities; (c) Mature at such time or serially at such times in regular numerical order at annual

or other designated intervals in amounts designated and fixed by the Board, but not

exceeding 50 years from their date; (d) Bear interest at a rate or rates which do not exceed by more than 3 percent the

Index of Revenue Bonds which was most recently published before the bids are received

or a negotiated offer is accepted, the interest on each bond to be payable annually,

semiannually, or at other designated intervals, but the first interest payment date

may be for interest accruing for any other period; (e) Be made payable in lawful money of the United States, at the office of the Treasurer

of the University or any commercial bank or commercial banks within or without or

both within and without the State as may be provided by the Board; and (f) Be printed at such place within or without this state, as the Board may determine. 2. Any bonds issued hereunder must have one or two sets of interest coupons, bearing

the number of the bond to which they are respectively attached, numbered consecutively

in regular numerical order, and attached in such a manner that they can be removed

upon the payment of the installments of interest without injury to the bonds, except

as herein otherwise provided.