349.244 - Application of other available money to payment of interest on and principal of securities issued as general obligations. - Nevada Statutes

349.244  Application of other available money to payment of interest on and principal of securities issued as general obligations.  Nothing contained in the State Securities Law shall be so construed as to prevent the State from applying any funds (other than taxes) that may be available for that purpose to the payment of the interest on or the principal of any general obligation state securities as the same respectively mature, including without limitation the payment of general obligation bonds as provided in NRS 349.236, and regardless of whether the payment of the general obligation state securities is additionally secured by a pledge of revenues, and upon such payments, the levy or levies of taxes provided in the State Securities Law may thereupon to that extent be diminished.

      (Added to NRS by 1967, 778)