Nev. Rev. Stat. § 349.230

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 349.230 - Securities issued as general obligations constitute outstanding indebtedness of State; exceptions

Any outstanding general obligation bonds, any temporary general obligation bonds to be exchanged for such definitive bonds, and any general obligation interim debentures constitute outstanding indebtedness of the State and exhaust the debt-incurring power of the state unless issued:

1. For the purpose of defraying extraordinary expenses, as mentioned in the last sentence of the first paragraph of Section 3 of Article 9 of the Constitution; or

2. For one of the purposes mentioned in the second paragraph of that section.

NRS 349.230

Added to NRS by 1967, 777; A 1977, 795

Added to NRS by 1967, 777; A 1977, 795