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Nevada Revised Statutes Title 18. State Executive Department § 226.793. Qualified borrower: Required entry into financing agreement to obtain loan or other financial assistance; authorized uses of loan proceeds

Current as of January 01, 2025 | Updated by Findlaw Staff

1. A qualified borrower that wishes to obtain a loan or other financial assistance from the Bank must enter into a financing agreement with the Bank and may be required to issue a loan obligation to the Bank. Except as otherwise provided by specific statute, a qualified borrower entering into a financing agreement with the Bank or issuing a loan obligation to the Bank may perform any act, take any action, adopt any proceedings and make and carry out any contract or agreement with the Bank as may be agreed to by the Bank and the qualified borrower for carrying out the purposes contemplated by NRS 226.700 to 226.832, inclusive.

2. A qualified borrower may, in addition to any authorization set forth in this section, use any authorization granted by any other statute that allows the qualified borrower to borrow money and issue obligations in obtaining a loan or other financial assistance from the Bank to the extent determined necessary or useful by the qualified borrower in connection with any financing agreement or the issuance, securing or sale of a loan obligation to the Bank.

3. A qualified borrower may:

(a) Receive, apply, pledge, assign and grant security interests in its project revenues to secure its loan obligations as provided in NRS 226.700 to 226.832, inclusive; and

(b) Impose and collect fees, rates, rents, assessments and other charges of general or special application for the operation of a qualified project, the system of which the qualified project is a part and any other revenue producing facilities from which the qualified borrower derives project revenues to meet its loan obligations under a financing agreement or to otherwise provide for the development, construction, repair, improvement, operation, maintenance, decommissioning or ownership of a qualified project.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 18. State Executive Department § 226.793. Qualified borrower: Required entry into financing agreement to obtain loan or other financial assistance; authorized uses of loan proceeds - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-18-state-executive-department/nv-rev-st-226-793/

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