Nevada Revised Statutes 271.538 – Medium-term obligations
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If there is not sufficient money in the general fund of the municipality and if the requirements of chapter 350 of NRS, with respect to medium-term obligations, are met, money may be provided by a medium-term obligation to cover the cost of an improvement made pursuant to NRS 271.536. In such case, the loan must be repaid from the special assessments made, in lieu of the special tax required by chapter 350 of NRS.
Terms Used In Nevada Revised Statutes 271.538
- 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.