318.320 - Revenue bonds: Issuance for acquisition or improvement of facilities.
318.320 Revenue bonds: Issuance for acquisition or improvement of facilities. A district created wholly or in part for a basic purpose or basic purposes in connection with which the district may derive revenues from the operation of facilities of the district or from the furnishing of services by the district, or from both such revenue sources, may issue bonds (without the necessity of holding an election and as an alternative or in addition to other forms of borrowing authorized in this chapter) for the purpose of acquiring or improving facilities appertaining to any such basic purpose, and such bonds shall be made payable solely out of the net revenues derived from the operation of such facilities or the furnishing of such services, or from both such revenue sources of the district; but a single bond issue may be had for more than one of such facilities or services and the revenues for any and all of the income-producing facilities and services provided by the district may be pledged to pay for any other such facilities or service. To that end, a single utility fund for all or any number of such facilities and services may be established and maintained.
(Added to NRS by 1959, 471; A 1963, 633; 1967, 1706)