NRS386.637. Bonds: Form and terms; sale; employment of financial and legal consultants authorized as incidental expense to project.

      1.  Any bonds issued pursuant to NRS 386.612 to 386.649, inclusive, must be authorized by an order of the Director of the Department of Business and Industry and must:

      (a) Be in denominations;

      (b) Bear the date or dates;

      (c) Mature at the time or times, not exceeding 40 years after their respective dates;

      (d) Bear interest at a rate or rates;

      (e) Be in the form;

      (f) Carry the registration privileges;

      (g) Be executed in the manner;

      (h) Be payable at the place or places within or without the State; and

      (i) Be subject to the terms of redemption,

Ê as provided by the order authorizing their issuance.

      2.  Any bonds issued pursuant to NRS 386.612 to 386.649, inclusive, may be sold in one or more series at par, or below or above par, in the manner and for the price or prices which the Director of the Department of Business and Industry determines in his or her discretion, and are not required to obtain a credit rating. As an incidental expense to any project to be financed by the bonds, the Director may employ financial and legal consultants in regard to the financing of the project on an ongoing basis.

      3.  Any bonds issued pursuant to NRS 386.612 to 386.649, inclusive, are fully negotiable under the terms of the Uniform Commercial Code—Investment Securities.

      (Added to NRS by 2013, 1592)