NAC349.360. Contents of resolution giving final approval; setting final terms of bonds.

     1. In addition to setting forth findings of fact, the resolution of the Board giving final approval to a proposed water project, other than a water project proposed by a municipal obligor, must also identify:

     (a) The applicant;

     (b) The purpose of the loan;

     (c) The location of the project;

     (d) The maximum amount of the loan;

     (e) A range of permissible rates of interest and the repayment period; and

     (f) Any conditions to be placed on the loan commitment.

     2. The final terms, including the rates of interest and repayment period must be set by the date of the successful issuance of the bonds. A rate of interest will be charged which includes the current interest on the principal amount of the bonds.

     (Added to NAC by Dep’t of Commerce, eff. 4-22-88; A 11-13-90)