If there is not sufficient money in the general fund of the municipality and if the requirements of chapter 350 of NRS, with respect to medium-term obligations, are met, money may be provided by a medium-term obligation to cover the cost of an improvement made pursuant to NRS 271.536. In such case, the loan must be repaid from the special assessments made, in lieu of the special tax required by chapter 350 of NRS.
NRS 271.538
Medium-term obligations
Known as the Consolidated Local Improvements Law
The act spans §§ 271–271 (230 sections).
(Added to NRS by 1979, 489; A 1981, 955; 1995, 1815)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.