2013 Nevada Revised Statutes
Chapter 350 - Municipal Obligations
NRS 350.544 - Operation and maintenance expenses limited.
The term operation and maintenance expenses does not include:
1. Any allowance for depreciation;
2. Any costs of improvements;
3. Any accumulation of reserves for major capital replacements (other than normal repairs);
4. Any reserves for operation, maintenance or repair of any facilities;
5. Any allowance for the redemption of any bond or other municipal security evidencing a loan or other obligation or for the payment of any interest thereon;
6. Any liabilities incurred in the acquisition or improvement of any properties comprising any project or of any existing facilities, or any combination thereof; and
7. Any other ground of legal liability not based on contract.
(Added to NRS by 1967, 425)
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