NRS543.690. Forms of borrowing; applicability of Local Government Securities Law; additional security; notice of proposed issuance of long-term general obligation bonds required.

      1.  Upon the conditions and under the circumstances set forth in NRS 543.170 to 543.830, inclusive, a district or, if requested by the district, the board of county commissioners of the county in which the district is situated, may:

      (a) Borrow money and issue the following securities to evidence the borrowing, subject to the provisions of NRS 350.020 to 350.070, inclusive:

             (1) Notes;

             (2) Warrants;

             (3) Bonds;

             (4) Temporary bonds;

             (5) Interim debentures; and

             (6) Special assessment bonds; and

      (b) Make any other contract creating an indebtedness.

      2.  Subject to the provisions of subsection 1, the board of directors of a district or the board of county commissioners may, on the behalf and in the name of the district or the county, as the case may be, issue the securities, and in connection with any undertaking or facilities authorized in NRS 543.170 to 543.830, inclusive, may otherwise proceed as provided in the Local Government Securities Law.

      3.  The payment of general obligation securities issued pursuant to subsection 1 may be additionally secured by a pledge of any revenue from a tax imposed pursuant to NRS 543.600 on retail sales and the storage, use or other consumption of tangible personal property in the county.

      4.  At least 60 days before any general obligation bonds for a term of more than 10 years are issued pursuant to this section, the board of directors of the district shall publish a notice of the proposed issuance of long-term general obligation bonds in a newspaper of general circulation within the district. The notice must be published at least twice during the first 3 weeks of the 60 days. Each time the notice is published it must be at least as large as 5 inches high by 4 inches wide.

      (Added to NRS by 1961, 441; A 1969, 1633; 1975, 750; 1985, 306; 1987, 726; 1991, 1373)