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Current as of January 01, 2021 | Updated by FindLaw Staff
Any resolution authorizing the issuance of general obligation state securities payable from gross revenues or any indenture or other proceedings appertaining thereto may contain a covenant of the State that to the extent required, as provided therein, the State will pay operation and maintenance expenses by appropriation from its General Fund and that to the extent the moneys accounted for therein are insufficient for that purpose the State shall levy taxes therefor.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 30. Public Borrowing and Obligations § 349.228. Securities issued as general obligations payable from gross revenues: Covenant requiring appropriations to pay expenses of operation and maintenance - last updated January 01, 2021 | https://codes.findlaw.com/nv/title-30-public-borrowing-and-obligations/nv-rev-st-349-228/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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