Nev. Rev. Stat. § 349.294
Use of money received from issuance of state securities
Nevada · Nevada Revised Statutes Chapter 349 — State Obligations · Status: effective
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- Citation
- Nev. Rev. Stat. § 349.294, Use of money received from issuance of state securities, Nevada, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2104536
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Full text
All moneys received from the issuance of any securities herein authorized shall be used solely for the purpose or purposes for which issued and to defray wholly or in part the cost of the project thereby delineated, including, without limitation, any proceeds received from the general obligation bonds issued pursuant to section 49.7 of chapter 432, Statutes of Nevada 2025, at page 2815. Any accrued interest and any premium shall be applied to the cost of the project or to the payment of the interest on or the principal of the securities, or both interest and principal, or shall be deposited in a reserve therefor, or any combination thereof, as the Commission may determine.