Nevada Revised Statutes 350.672 – Interim debentures: Issuance for general or special obligations
1. Notwithstanding any limitation or other provision herein, whenever the municipality is authorized to issue general obligation bonds, but only if the qualified electors of the municipality voting on a proposal to issue the general obligation bonds have authorized in the manner required by law their issuance by the municipality for any project, if such general obligation bonds as a condition to their issuance are so required to be authorized at an election, the municipality is authorized to borrow money without any other election in anticipation of the proceeds of taxes, the proceeds of the bonds, the proceeds of pledged revenues, or any other moneys of the municipality, or any combination thereof, and to issue general obligation interim debentures to evidence the amount so borrowed.
Terms Used In Nevada Revised Statutes 350.672
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
2. Notwithstanding any limitation or other provision herein, whenever the municipality is authorized to issue special obligation revenue bonds, but only if the qualified electors of the municipality voting on a proposal to issue the revenue bonds have authorized in the manner required by law their issuance by the municipality for any project, if such revenue bonds as a condition to their issuance are so required to be authorized at an election, the municipality also is authorized to borrow money without any election in anticipation of the proceeds of revenue bonds or any other special obligations of the municipality and of its pledged revenues, or any combination thereof, but excluding the proceeds of any taxes, and to issue special obligation interim debentures to evidence the amount so borrowed.