Nevada Administrative Code
Chapter 319 - Assistance to Finance Housing
LOANS FOR MULTIPLE-UNIT HOUSING AND SITES FOR MOBILE HOMES
Section 319.712 - Prerequisites for submission of project to State Board of Finance for approval
Universal Citation: NV Admin Code 319.712
Current through December 12, 2024
The Division shall not submit a project to the State Board of Finance for approval unless the Division determines that:
1. For bonds which will be sold through:
(a) A private placement, the project has a preliminary commitment for direct purchase of the proposed loan or bonds from a commercial bank or institutional lender that has been approved by the Division; or
(b) A public sale, the Division has received preliminary evidence acceptable to the Division that the bonds will be assigned a rating of not less than A/A3 or an equivalent rating as determined by a nationally recognized statistical rating organization;
2. If tax-credit equity is to be part of the total financing, the project has a preliminary commitment or letter of intent from the tax-credit equity investor; and
3. Sources of funding for the proposed project have all been identified and are adequate to fund the project to completion.
Added to NAC by Housing Div. by R093-00, eff. 11-20-2000; A by R124-04, 10-4-2004; A by R114-14, eff. 10/27/2015
NRS 319.140
Disclaimer: These regulations may not be the most recent version. Nevada may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
