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:

2-1 1. Student housing and dining facilities required or desired by

2-2 the university at the University of Nevada, Reno, and University of

2-3 Nevada, Las Vegas; [and]

2-4 2. Parking facilities required or desired by the university at the

2-5 University of Nevada, Reno, and University of Nevada, Las Vegas

2-6 [,] ; and

2-7 3. Campus facilities required or desired by university master

2-8 plans at the University of Nevada, Las Vegas, and the University

2-9 of Nevada, Reno,

2-10 equipment and furnishings therefor, and other appurtenances

2-11 relating thereto as specified in a resolution of the board adopted

2-12 pursuant to this act.

2-13 Sec. 2. Section 5 of chapter 501, Statutes of Nevada 1991, as last

2-14 amended by section 2 of chapter 93, Statutes of Nevada 1995, at page 112,

2-15 is hereby amended to read as follows:

2-16 Sec. 5. 1. The board, on behalf and in the name of the

2-17 university, is authorized by this act, as supplemented by the

2-18 provisions of the University Securities Law:

2-19 (a) To finance the project by the issuance of bonds and other

2-20 securities of the university in a total principal amount not exceeding

2-21 [$12,000,000] $25,000,000 for facilities at the University of

2-22 Nevada, Reno, and in a total principal amount not exceeding

2-23 [$17,500,000] $67,500,000 for facilities at the University of

2-24 Nevada, Las Vegas [;] , $35,000,000 of which may be used for the

2-25 construction, other acquisition and improvement of a dental

2-26 school and other structures and clinics associated with the dental

2-27 school.

2-28 (b) To issue such bonds and other securities in connection with

2-29 the projects in one series or more at any time or from time to time

2-30 within [9] 18 years after the effective date of this act, as the board

2-31 may determine, and consisting of special obligations of the

2-32 university payable from the net pledged revenues authorized by this

2-33 act possible subsequently other net pledged revenues, secured by a

2-34 pledge thereof and a lien thereon, subject to existing contractual

2-35 limitations, and subject to the limitation in paragraph (a);

2-36 (c) To employ legal, fiscal and other expert services and to

2-37 defray the costs thereof with any money available therefor,

2-38 including, proceeds of securities authorized by this act; and

2-39 (d) To exercise the incidental powers provided in this University

2-40 Securities Law in connection with the powers authorized by this act

2-41 except as otherwise expressly provided in this act.

2-42 2. If the board determines to sell the bonds authorized by

2-43 subsection 1 at a discount from their face amount, the principal

3-1 amount of bonds which the board is authorized to issue provided in

3-2 subsection 1 is increased by an amount equal to the discount at

3-3 which the bonds are sold.

3-4 3. This act does not limit the board in funding, refunding or

3-5 reissuing any securities of the university or the board at any time as

3-6 provided in the University Securities Law.

3-7 Sec. 3. 1. The board of regents of the University of Nevada may, on

3-8 behalf and in the name of the university, finance the construction, other

3-9 acquisition and improvement of a dental school and other structures and

3-10 clinics associated with the dental school at the University of Nevada, Las

3-11 Vegas, by the issuance of bonds and other securities of the university in a

3-12 total principal amount not exceeding $35,000,000. The bonds and other

3-13 securities may be issued at one time or from time to time, within 5 years

3-14 after the effective date of this act and, except as otherwise provided in this

3-15 section, must be issued in accordance with the provisions of the University

3-16 Securities Law. The total principal amount of any bonds issued pursuant to

3-17 this section and pursuant to chapter 501, Statutes of Nevada 1991, as

3-18 amended, for this purpose must not exceed $35,000,000.

3-19 2. The bonds or other securities issued pursuant to subsection 1 must

3-20 be secured by a pledge of the revenues derived from or otherwise

3-21 pertaining to the imposition and collection of fees for dental services

3-22 provided at a facility for the University of Nevada, Las Vegas.

3-23 3. The provisions of this section do not limit the board in funding,

3-24 refunding or reissuing any securities of the university or the board at any

3-25 time as provided in the University Securities Law.

3-26 4. Any bonds or other securities issued pursuant to this section must

3-27 not be considered to be obligations general, special, or otherwise of the

3-28 state, or to be securities of debt of the state, and are not enforceable against

3-29 the state.

3-30 Sec. 4. NRS 396.828 is hereby amended to read as follows:

3-31 396.828 "Pledged revenues" means the money pledged wholly or in

3-43 1. Dormitories, apartments and other facilities for housing;

4-1 2. Cafeterias, dining halls and other facilities for food service;

4-2 3. Student union and other facilities for student activities;

4-3 4. Store or other facilities for the sale or lease of books, stationery,

4-4 student supplies, faculty supplies, office supplies and like material;

4-5 5. Stadium, arena, theater, fieldhouse and other athletic or recreational

4-6 facilities for use in part by spectators or otherwise;

4-7 6. Land and any structures, other facilities, or other improvements

4-8 thereon used or available for use for the parking of vehicles used for the

4-9 transportation by land or air of persons to or from such land and any

4-10 improvements thereon;

4-11 7. Properties for providing heat or any other utility furnished by the

4-12 university or the board to any facilities on its campus;

4-13 8. Investments and reinvestments of unrestricted endowments; [and]

4-14 9. Any revenue derived from or otherwise pertaining to the

4-15 imposition and collection of fees for dental services provided at a facility

4-16 of the university; and

4-17 10. Facilities of the desert research institute, including , without

4-18 limitation , money from:

4-19 (a) Grants to the desert research institute by any person or the Federal

4-20 Government;

4-21 (b) Contracts and leases between the desert research institute and any

4-22 person or governmental entity;

4-23 (c) The investment of any money of the desert research institute; and

4-24 (d) Any other revenue received by the desert research institute, or by the

4-25 board on behalf of the desert research institute pursuant to NRS 396.795 to

4-26 396.7956, inclusive.

4-27 Sec. 5. This act becomes effective upon passage and approval.