Nevada Revised Statutes 315.690 – Limitation of further indebtedness; bond proceeds; lost and destroyed bonds; extension of bond and interest payment; redemption
An authority may:
Terms Used In Nevada Revised Statutes 315.690
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Personal property: All property that is not real property.
1. Covenant against pledging all or any part of its rents, fees and revenues, or against mortgaging all or any part of its real or personal property, to which its right or title then exists or may thereafter come into existence, or against permitting or suffering any lien on such revenues or property.
2. Covenant with respect to its right to sell, lease or otherwise dispose of any housing project or any part thereof.
3. Covenant as to what other, or additional debts or obligations may be incurred by it.
4. Covenant as to the bonds to be issued and as to the issuance of such bonds in escrow and otherwise, and as to the use and disposition of the proceeds thereof.
5. Provide for the replacement of lost, destroyed or mutilated bonds.
6. Covenant against extending the time for the payment of its bonds or interest thereon.
7. Covenant for the redemption of the bonds, and to provide the terms and conditions thereof.