EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted. Green numbers along left margin indicate location on the printed bill (e.g., 5-15 indicates page 5, line 15).

1-1 Section 1. Section 4 of chapter 501, Statutes of Nevada 1991, as last

1-2 amended by section 1 of chapter 93, Statutes of Nevada 1995, at page 112,

1-3 is hereby amended to read as follows:

1-4 Sec. 4. "Project" means the construction, land and other

1-5 acquisition, rehabilitation and improvement, or any combination

1-6 thereof, of additional:

1-7 1. Student housing and dining facilities required or desired by

1-8 the university at the University of Nevada, Reno, and University of

1-9 Nevada, Las Vegas; [and]

2-1 2. Parking facilities required or desired by the university at the

2-2 University of Nevada, Reno, and University of Nevada, Las Vegas

2-3 [,] ; and

2-4 3. Campus facilities required or desired by university master

2-5 plans at the University of Nevada, Las Vegas, and the University

2-6 of Nevada, Reno,

2-7 equipment and furnishings therefor, and other appurtenances

2-8 relating thereto as specified in a resolution of the board adopted

2-9 pursuant to this act.

2-10 Sec. 2. Section 5 of chapter 501, Statutes of Nevada 1991, as last

2-11 amended by section 2 of chapter 93, Statutes of Nevada 1995, at page 112,

2-12 is hereby amended to read as follows:

2-13 Sec. 5. 1. The board, on behalf and in the name of the

2-14 university, is authorized by this act, as supplemented by the

2-15 provisions of the University Securities Law:

2-16 (a) To finance the project by the issuance of bonds and other

2-17 securities of the university in a total principal amount not exceeding

2-18 [$12,000,000] $25,000,000 for facilities at the University of

2-19 Nevada, Reno, and in a total principal amount not exceeding

2-20 [$17,500,000] $32,500,000 for facilities at the University of

2-21 Nevada, Las Vegas;

2-22 (b) To issue such bonds and other securities in connection with

2-23 the projects in one series or more at any time or from time to time

2-24 within [9] 18 years after the effective date of this act, as the board

2-25 may determine, and consisting of special obligations of the

2-26 university payable from the net pledged revenues authorized by this

2-27 act possible subsequently other net pledged revenues, secured by a

2-28 pledge thereof and a lien thereon, subject to existing contractual

2-29 limitations, and subject to the limitation in paragraph (a);

2-30 (c) To employ legal, fiscal and other expert services and to

2-31 defray the costs thereof with any money available therefor,

2-32 including, proceeds of securities authorized by this act; and

2-33 (d) To exercise the incidental powers provided in this University

2-34 Securities Law in connection with the powers authorized by this act

2-35 except as otherwise expressly provided in this act.

2-36 2. If the board determines to sell the bonds authorized by

2-37 subsection 1 at a discount from their face amount, the principal

2-38 amount of bonds which the board is authorized to issue provided in

2-39 subsection 1 is increased by an amount equal to the discount at

2-40 which the bonds are sold.

2-41 3. This act does not limit the board in funding, refunding or

2-42 reissuing any securities of the university or the board at any time as

2-43 provided in the University Securities Law.

3-1 Sec. 3. This act becomes effective upon passage and approval.