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Nevada Revised Statutes Title 21. Cities and Towns § 268.534. Bonds: Form; terms; variable rate of interest; sale

Current as of January 01, 2021 | Updated by FindLaw Staff

1. The bonds must:

(a) Be authorized by resolution;

(b) Be in such denominations;

(c) Bear such date or dates;

(d) Mature at such time or times not exceeding 40 years from their respective dates;

(e) Be in such form;

(f) Carry such registration privileges;

(g) Be executed in such manner;

(h) Be payable at such place or places within or without the State; and

(i) Be subject to such terms of redemption,

as the authorizing resolution may provide.

2. The resolution may fix a rate or rates of interest, or provide for the determination of the rate or rates from time to time by a designated agent according to a specified standard and procedure.

3. The bonds may be sold in one or more series at par, or below or above par, in such manner and for such price or prices as the city determines. As an incidental expense of the project, the city may employ financial and legal consultants in regard to the financing of the project.

4. The bonds are fully negotiable under the terms of the Uniform Commercial Code--Investment Securities.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 21. Cities and Towns § 268.534. Bonds: Form; terms; variable rate of interest; sale - last updated January 01, 2021 | https://codes.findlaw.com/nv/title-21-cities-and-towns/nv-rev-st-268-534/

Read this complete Nevada Revised Statutes Title 21. Cities and Towns § 268.534. Bonds: Form; terms; variable rate of interest; sale on Westlaw. Westlaw subscription required.

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