349.922 - Bonds: Special obligations of State. - Nevada Statutes

349.922  Bonds: Special obligations of State.

      1.  All bonds issued by the Director pursuant to NRS 349.900 to 349.929, inclusive, are special, limited obligations of the State.

      2.  The bonds and interest coupons, if any, which are a 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 of a statute, 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.

      (Added to NRS by 1987, 1408)