Permissible forms of security for issuance of revenue bonds by Bank. [Effective on the date on which the Director of the Department of Transportation notifies the Governor and the Director of the Legislative Counsel Bureau that sufficient money is available to capitalize and carry out the business of the Nevada State Infrastructure Bank created by NRS 408.55069.]

  1. Law
  2. Nevada Revised Statutes
  3. Highways, Roads and Transportation Facilities
  4. Permissible forms of security for issuance of revenue bonds by Bank. [Effective on the date on which the Director of the Department of Transportation notifies the Governor and the Director of the Legislative Counsel Bureau that sufficient money is available to capitalize and carry out the business of the Nevada State Infrastructure Bank created by NRS 408.55069.]

Checkout our iOS App for a better way to browser and research.

The Bank may provide security for any issue of revenue bonds by the Bank through any commonly accepted financial instrument, including, without limitation:

1. A deed of trust on the resources, facilities and revenues of one or more qualified projects financed by the Bank;

2. A credit enhancement, including, without limitation, a letter of credit, bond insurance or surety bond provided by a private financial institution; and

3. Insurance, reinsurance or a guarantee provided by the Bank itself.

(Added to NRS by 2017, 4135, effective on the date on which the Director of the Department of Transportation notifies the Governor and the Director of the Legislative Counsel Bureau that sufficient money is available to capitalize and carry out the business of the Nevada State Infrastructure Bank created by NRS 408.55069)


Download our app to see the most-to-date content.