NRS 388A.670
Special obligations of State.

1.

All bonds issued by the Director of the Department of Business and Industry pursuant to NRS 388A.550 to 388A.695, inclusive, are special, limited obligations of the State. The principal of and interest on such bonds are payable, subject to the security provisions of NRS 388A.550 to 388A.695, inclusive, solely out of the revenues derived from the financing, leasing or sale of the project or projects to be financed by the bonds.

2.

The bonds and interest coupons, if any, which are part of those bonds do not constitute the debt or indebtedness of the State or any city or county within the meaning of any provision or limitation of the Constitution of the State of Nevada or statutes, and do not constitute or give rise to a pecuniary liability of the State or a charge against its general credit or taxing powers. This limitation must be plainly stated on the face of each bond.

Source: Section 388A.670 — Special obligations of State., https://www.­leg.­state.­nv.­us/NRS/NRS-388A.­html#NRS388ASec670.

Last Updated

Feb. 5, 2021

§ 388A.670’s source at nv​.us