Nevada Revised Statutes 350.206 – Sufficiency of levy of taxes
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Each levy of taxes made after the enactment of such an ordinance shall include an amount for debt service sufficient to meet all general obligation interest requirements of the fiscal year for which the levy is made and to retire all bonds scheduled for retirement during that year.
Terms Used In Nevada Revised Statutes 350.206
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- 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.