350.2011 - Maximum rate of interest on securities of political subdivisions.
350.2011 Maximum rate of interest on securities of political subdivisions. Except as otherwise provided in NRS 99.067, and except where the provisions, whenever enacted, of a general or special law or of a special charter otherwise require, the rate or rates of interest on securities issued by a political subdivision of this state must not exceed by more than 3 percent:
1. For general obligations, the Index of Twenty Bonds; and
2. For special obligations, the Index of Revenue Bonds,
Ê which was most recently published before the bids are received or a negotiated offer is accepted.
(Added to NRS by 1967, 219; A 1969, 1291; 1971, 2115; 1975, 863; 1981, 1403; 1983, 574; 2009, 2659)