Nevada § 539.639 - Trustees and receivers

§ 539.639. Trustees and receivers

1. If a resolution of the board authorizing or providing for the issuance of any bonds

of any series or any other proceedings appertaining thereto contains a provision authorized

by subsection 19 of NRS 539.6375 and further provides in substance that any trustee appointed pursuant to subsection

16 of NRS 539.6375 has the powers provided by that subsection, then that trustee, whether or not all

of the bonds of that series have been declared due, is entitled as of right to the

appointment of a receiver of the project and other facilities which generate pledged

revenues. 2. Any receiver appointed as permitted by subsection 19 of NRS 539.6375 may enter upon and take possession of the project and other facilities appertaining

thereto, and, subject to any pledge or contract with the holders of those bonds, shall

take possession of all money and other property derived from or applicable to the

acquisition, operation, maintenance or improvement of the project or other facilities,

proceed with such acquisition, operation, maintenance or improvement which the board

on the behalf of the district is under any obligation to do, operate, maintain, equip

and improve the facilities, fix, charge, collect, enforce and receive the charges

for services and all revenues thereafter arising subject to any pledge thereof or

contract with the holders of the bonds relating thereto and perform the duties and

carry out the contracts and obligations of the district in the same manner as the

board itself might do and under the direction of the court.