Assembly Bill No. 549–Committee on Government Affairs

 

March 23, 2001

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Referred to Concurrent Committees on Government
Affairs and Ways and Means

 

SUMMARY—Increases amount of general obligation bonds that state board of finance may issue to provide grants to certain water systems. (BDR 30‑1328)

 

FISCAL NOTE:            Effect on Local Government: No.

                                    Effect on the State: No.

 

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EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.

 

AN ACT relating to water systems; increasing the amount of general obligation bonds that the state board of finance may issue to provide grants to publicly owned water systems for capital improvements; and providing other matters properly relating thereto.

 

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN

SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

 

1-1    Section 1.  NRS 349.986 is hereby amended to read as follows:

1-2    349.986  The state board of finance shall issue general obligation bonds

1-3  of the State of Nevada in the face amount of not more than [$50,000,000]

1-4  $69,000,000 to support the purposes of the program. The net proceeds from

1-5  the sale of the bonds must be deposited in the fund. The bonds must be

1-6  redeemed through the consolidated bond interest and redemption fund.

1-7    Sec. 2.  This act becomes effective on July 1, 2001.

 

1-8  H