Except where the provisions, whenever enacted, of a general or special law or of a special charter otherwise require, securities issued by a political subdivision of this state may be sold at par, above par or below par at a discount of not more than 9 percent of the principal amount, but the effective interest rate must not exceed the limit provided in NRS 350.2011. (Added to NRS by 1967, 219; A 1969, 1291; 1971, 2115; 1975, 863; 1981, 1403; 1983, 574)
Nevada Legal Code