NRS 350.5835 Variable rates of interest: Exemption from limitations; conclusive findings of governing body that procedure for determination of rates is reasonable.
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NRS 350.5835 Variable rates of interest: Exemption from limitations; conclusive findings of governing body that procedure for determination of rates is reasonable. In fixing the rate or rates of interest for municipal securities pursuant to subsection 1 of NRS 350.583 or the rate or rates of interest imposed on the governing body for reimbursement of any advances made under an agreement pursuant to subsection 2 of NRS 350.583 , the governing body is not subject to any limitations on rates of interest provided by statute, including NRS 350.2011 , or provided in the question at an election authorizing the issuance of those securities.
The ordinance or resolution fixing that rate or rates of interest must contain the findings of the governing body that the procedure specified therein for determining that rate or rates is reasonable under existing or anticipated conditions in the market and is necessary and advisable for marketing the securities. These findings are conclusive. This section does not prohibit the governing body from fixing a maximum rate of interest in that ordinance or resolution.