Statute 350 5755

1. Whenever the governing body of any municipality is authorized to enter into financing for restoration of a historic structure, as provided in NRS 350.575, the governing body may issue, as evidence thereof, negotiable notes or bonds. 2. The negotiable notes or bonds must: (a) Mature not later than 15 years after the date of issuance. (b) Bear interest at a rate or rates which do not exceed by more than 3 percent the Index of Twenty Bonds which was most recently published before the bids are received or a negotiated offer is accepted. (Added to NRS by 1985, 2178)