NAC319.714. Payment of cost of issuance of bonds.

Latest version.

     1. Upon approval of a loan application by the Division, a sponsor must submit:

     (a) If the application is for a new project, a down payment of $75,000 toward the cost of issuance of the bonds for the project; or

     (b) If the application is for refinancing of an existing project, a deposit in an amount that is less than $75,000, as determined by the Division, toward the cost of issuance of the bonds for the project.

     2. The balance of the cost of issuance of the bonds is due at closing.

(Added to NAC by Housing Div. by R093-00, eff. 11-20-2000)

                    
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