Nevada Revised Statutes 349.242 – Payment from State General Fund when taxes insufficient to pay amount due on securities issued as general obligations; reimbursement of State General Fund
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Any sums coming due on any general obligation state securities at any time when there are not on hand from such tax levy or levies sufficient funds to pay the same shall be promptly paid when due from the General Fund of the State, reimbursement to be made to such General Fund in the sums thus advanced when the taxes herein provided for have been collected.
Terms Used In Nevada Revised Statutes 349.242
- 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.