Nevada Revised Statutes 350.5755 – Issuance of negotiable notes or bonds to finance restoration of historic structure; maturity; interest
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1. Whenever the governing body of any municipality is authorized to enter into financing for restoration of a historic structure, as provided in NRS 350.575, the governing body may issue, as evidence thereof, negotiable notes or bonds.
Terms Used In Nevada Revised Statutes 350.5755
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
2. The negotiable notes or bonds must:
(a) Mature not later than 15 years after the date of issuance.
(b) Bear interest at a rate or rates which do not exceed by more than 3 percent the Index of Twenty Bonds which was most recently published before the bids are received or a negotiated offer is accepted.