{"data":{"id":"us-nv/nrs-268.5385","jurisdiction":"us-nv","citation":"NRS 268.5385","heading":"Issuance by governing body of city of bonds for project for affordable housing or residential housing for corporation for public benefit: Requirements.","body":"The governing body of a city may approve the issuance of bonds for a project for affordable housing or for any form of residential housing for the purposes of a corporation for public benefit only if:\n1. The amount of the bonds to be issued is less than $15,000,000;\n2. An independent consultant hired by the governing body has reported favorably on the financial feasibility of the project;\n3. The bonds will be sold to not more than 10 investors, each of whom certifies that he or she:\n(a) Has a net worth of $500,000 or more; and\n(b) Is purchasing the bonds for investment and not for resale; and\n4. The issuance of the bonds is approved by the State Board of Finance, unless the amount of the bonds to be issued is $5,000,000 or less.","path":["TITLE 21 — CITIES AND TOWNS","CHAPTER 268 - POWERS AND DUTIES COMMON TO CITIES AND TOWNS INCORPORATED UNDER GENERAL OR SPECIAL LAWS","CITY ECONOMIC DEVELOPMENT REVENUE BOND LAW"],"source_url":"https://www.leg.state.nv.us/NRS/NRS-268.html#NRS268Sec5385","current_through":"2025 session (NRS as revised 2026-08-25)","vintage":"","retrieved_at":"2026-09-03T05:51:35Z","sha256":"ceb8044203954869addf9c5f4fa9c6e6f1ebe87469b175a6552f35b545d0b1a7","source_id":"us-nv","stale":true,"prev":"us-nv/nrs-268.538","next":"us-nv/nrs-268.539"},"notice":"GroundRules: Original legal text. Not legal advice."}