Nevada Revised Statutes 354.535 – ‘General long-term debt’ defined
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‘General long-term debt’ means debt which is legally payable from general revenues and is backed by the full faith and credit of a governmental unit. The term includes obligations issued by a local government pursuant to chapter 350 of NRS and other long-term liabilities, including, without limitation, accrued compensated absences and claims for workers’ compensation.
Terms Used In Nevada Revised Statutes 354.535
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.