NAC386.470. Bonds: Generally.

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     1. Bonds may be sold in the public bond market or privately placed.

     2. While they remain outstanding, any bonds providing for a variable rate of interest must use hedging or another mechanism to maintain the interest rate of the bonds within a range determined by the Director. The cost of any such protections must be accounted for in calculating the cost of such bonds in comparison to the cost of bonds not providing for a variable rate of interest.

     3. Any investment of the proceeds of bonds must first be approved by the Director and must comply with the requirements of chapter 386 of NRS.

(Added to NAC by Dep’t of Business & Industry by R099-13, eff. 6-23-2014)

                    
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