Nevada Revised Statutes 279.662 – Power of agency to provide for powers and duties of bondholders’ trustee or bondholders
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An agency may:
Terms Used In Nevada Revised Statutes 279.662
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Trustee: A person or institution holding and administering property in trust.
1. Vest in a trustee or the holders of bonds or any proportion of them the right to enforce the payment of the bonds or any covenants securing or relating to the bonds.
2. Vest in a trustee the right, in the event of a default by the agency, to take possession of all or part of any redevelopment project, to collect the rents and revenues arising from it and to dispose of such money pursuant to the agreement of the agency with the trustee.
3. Provide for the powers and duties of a trustee and limit his or her liabilities.
4. Provide the terms and conditions upon which the trustee or the holders of bonds or any proportion of them may enforce any covenant or rights securing or relating to the bonds.