NRS 349.234 Recitals required in state securities.

139 words·~1 min read·/nv/chapter-349-state-obligations/349-234

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

1. State securities issued hereunder and constituting special obligations shall recite in substance that the securities and the interest thereon are payable solely from the net revenues pledged to the payment thereof.

2. State securities issued hereunder and constituting general obligations shall pledge the full faith and credit of the State for their payment, shall so state, and shall state that they are payable from taxes.

3. General obligation state securities the payment of which is additionally secured by a pledge of revenues shall recite in substance, in addition to the statements required by subsection 2 of this section, that the payment of the securities and the interest thereon is additionally secured by a pledge of the net revenues or the gross revenues, as the case may be, designated in the securities.