349.228 - Securities issued as general obligations payable from gross revenues: Covenant requiring appropriations to pay expenses of operation and maintenance. - Nevada Statutes

349.228  Securities issued as general obligations payable from gross revenues: Covenant requiring appropriations to pay expenses of operation and maintenance.  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.

      (Added to NRS by 1967, 777)