Any outstanding general obligation bonds, any temporary general obligation bonds to be exchanged for such definitive bonds, and any general obligation interim debentures constitute outstanding indebtedness of the State and exhaust the debt-incurring power of the state unless issued:

Terms Used In Nevada Revised Statutes 349.230

  • 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.

1.  For the purpose of defraying extraordinary expenses, as mentioned in the last sentence of the first paragraph of Section 3 of Article 9 of the Constitution; or

2.  For one of the purposes mentioned in the second paragraph of that section.

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