2015 Nevada Revised Statutes
Chapter 350A - Purchase of Municipal and Revenue Securities by State
NRS 350A.160 - Judicial confirmation of exemption of specific obligation from State’s debt limit required.
The Board shall not become obligated with respect to a particular lending project unless it has obtained judicial confirmation, in a proceeding pursuant to chapter 43 of NRS or another proceeding, that the obligation to be incurred for that project will be exempt from the State’s debt limit. If an appeal is taken or the confirmation is otherwise reviewed, the obligation must not be incurred unless the exemption is affirmed by the court of last resort.
(Added to NRS by 1981, 769; A 1993, 2321)
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