Nev. Admin. Code § 350.130

Current through December 12, 2024

Section 350.130 - Authorization void after 18 months

The governing body of a local government which adopts a resolution authorizing a medium-term obligation must act on such authorization not later than 18 months following the approval of the Executive Director of the Department of Taxation, except when the obligation is issued to pay for a contract for long-term construction or for a program to acquire land. If the governing body does not act within the time required, the authorization is void and a new resolution authorizing a medium-term obligation must be adopted.

Added to NAC by Tax Comm'n, eff. 7-9-96

NRS 350.089, 360.090