The period for repayment of the debt incurred by a medium-term obligation begins on the date on which the debt is incurred. If the governing body of the local government enters into a medium-term obligation in a manner in which the debt will be incurred in installments, each installment must have a separate period of repayment effective from the date on which the debt is incurred.
Nev. Admin. Code § 350.160
NRS 360.090