1.  The State Board of Finance shall issue general obligation bonds of the State of Nevada to support the purposes of the program established by NRS 349.981. The aggregate principal amount of such bonds outstanding at any one time may not exceed $125,000,000.

Terms Used In Nevada Revised Statutes 349.986

  • 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.

2.  The net proceeds from the sale of the bonds must be deposited in the Fund.

3.  The bonds must be redeemed through the Consolidated Bond Interest and Redemption Fund.

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