Nevada § 396.874 - Conditions for refunding bonds
Full text of Nevada Nevada Revised Statutes § 396.874 — Conditions for refunding bonds, with citation guidance and answers to common questions.
§ 396.874. Conditions for refunding bonds
1. No bonds may be refunded hereunder unless the holders thereof voluntarily surrender
them for exchange or payment, or unless they either mature or are callable for prior
redemption under their terms within 25 years after the date of issuance of the refunding
bonds. Provision must be made for paying the securities within that period. 2. The maturity of any bond refunded may not be extended beyond 25 years, or beyond
1 year next following the date of the last outstanding maturity, whichever limitation
is later, nor may any interest thereon be increased to any rate which exceeds 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. 3. The principal amount of the refunding bonds may exceed, be less than or be the
same as the principal amount of the bonds being refunded so long as provision is duly
and sufficiently made for their payment.
Frequently Asked Questions About Nevada § 396.874
What does Nevada Revised Statutes § 396.874 cover?
Section 396.874 ("Conditions for refunding bonds") 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 § 396.874?
A common citation format is "Nevada Revised Statutes § 396.874" (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 § 396.874 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.