Nevada § 445A.155 - Issuance of bonds to support Account

§ 445A.155. Issuance of bonds to support Account

1. The Administrator may authorize the State Treasurer to issue, sell or deliver general

obligation bonds of the State or revenue bonds if viable to support the purposes of

the Account. 2. If the Administrator authorizes the issuance of those bonds, the State Treasurer

may: (a) Sue and be sued to establish or enforce any right arising out of a project receiving

financial assistance or of any state securities issued pursuant to this authorization; (b) Acquire and hold municipal securities, and exercise all of the rights of holders

of those securities; (c) Sell or otherwise dispose of municipal securities and assets acquired in connection

with those securities, unless limited by any agreement which relates to the securities; (d) Make contracts and execute all necessary or convenient instruments; (e) Accept grants of money from the Federal Government, the State, any agency or political

subdivision, or any other person; (f) Adopt regulations relating to projects receiving financial assistance and the

administration of those projects; (g) Employ for the Administrator or for any eligible recipient any necessary legal,

fiscal, engineering and other expert services in connection with projects receiving

financial assistance and with the authorization, sale and issuance of state securities

and municipal securities; (h) Enter into agreements and arrangements consistent with NRS 445A.060 to 445A.160 , inclusive, concerning the issuance of state securities and the purchase of municipal

securities; and (i) Undertake other matters which the Administrator determines to be necessary or

desirable to accomplish the purposes of NRS 445A.060 to 445A.160 , inclusive. 3. Before any bonds are issued pursuant to this section, the State Board of Finance

must certify that sufficient revenue will be available in the Account to pay the interest

and installments of principal as they become due. 4. The money in the Account that is available for the payment of the interest and

installments of principal on the bonds must be pledged as the primary source for the

payment of the bonds. The full faith and credit of the State may be pledged.