1. Except as otherwise provided in NRS 349.585, the Director may provide financing for a project pursuant to this section if: (a) The financing is limited in amount and purpose to the payment of the costs associated with: (1) The acquisition, refurbishing, replacement and installation of equipment for the project; and (2) The issuance of bonds pursuant to this section; (b) The total amount of the bonds issued pursuant to this section for a particular project does not exceed $2,500,000; (c) The Director determines that the bonds will: (1) Be sold only to qualified institutional buyers, as defined in Rule 144A of the Securities and Exchange Commission, 17 C.F.R. § 230.144A, in minimum denominations of at least $100,000; or (2) Receive a rating within one of the top four rating categories of Moody’s Investors Service, Inc., Standard and Poor’s Rating Services or Fitch IBCA, Inc.; (d) The Director makes the findings set forth in paragraphs (a) to (g), inclusive, of subsection 2 of NRS 349.580, and the governing body of the city or county where the project is to be located approves the findings of the Director; and (e) The Director complies with the guidelines established pursuant to 9.580, and the governing body of the city or county where the project is to be located approves the findings of the Director; and (e) The Director complies with the guidelines established pursuant to subsection 2. 2. The Board shall establish guidelines for the provision of financing for a project pursuant to this section. (Added to NRS by 1999, 3356; A 2011, 3459)
Nevada Legal Code