Nev. Rev. Stat. » NRS: CHAPTER 349 - STATE OBLIGATIONS
Nevada Revised Statutes

Nev. Rev. Stat. § 349.620 (2026)

Security

✓ current as of July 2026
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NRS 349.620  Security.

      1.  The principal of, the interest on and any prior redemption premiums due in connection with the bonds issued pursuant to NRS 349.400 to 349.670, inclusive, are payable from, secured by a pledge of, and constitute a lien on the revenues out of which the bonds have been made payable. In addition, they may, in the discretion of the Director, be secured by:

      (a) A mortgage or mortgages covering all or part of any project financed with the proceeds of the bonds, or upon any other property of the lessees, purchasers or obligors of those projects, or by a pledge of the lease, the agreement of sale or the financing agreement with respect to one or more of the projects, or both.

      (b) A pledge of one or more notes, debentures, bonds or other secured or unsecured debt obligations of the obligor of one or more of the projects.

      (c) The proceeds of the bonds and income from investment of the proceeds and of revenues.

      2.  The State, a city or a county may pledge only the property of the project or the revenues therefrom.

      (Added to NRS by 1981, 1629)

     

Notes of Decisions
Cited in 1 case, 2010–2010 · leading case: In re Las Vegas Monorail Co., 429 B.R. 317 (Bankr. D. Nev. 2010).
Sort: Relevance Newest Treatment
In re Las Vegas Monorail Co., 429 B.R. 317 (Bankr. D. Nev. 2010). · cites it 6× “44 As the Financing Agreement limited the Trustee’s ongoing interest to Net Project Revenues, that is all to which the statutory lien found in Nev.Rev.Stat. § 349.620 could attach since its reach is limited to “the revenues out of which the bonds have been made payable.”
— Nev. Rev. Stat. § 349.620(1) — 1 case
In re Las Vegas Monorail Co., 429 B.R. 317 (Bankr. D. Nev. 2010). “44 As the Financing Agreement limited the Trustee’s ongoing interest to Net Project Revenues, that is all to which the statutory lien found in Nev.Rev.Stat. § 349.620 could attach since its reach is limited to “the revenues out of which the bonds have been made payable.”
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