A district may borrow money and incur or assume indebtedness therefor, as provided in this chapter, so long as the total of all such indebtedness, excluding revenue bonds, special assessment bonds and other securities constituting special obligations which are not debts, does not exceed an amount equal to 50 percent of the total of the last assessed valuation of taxable property, excluding motor vehicles, situated within such district.
NRS 318A.500
Debt limit of district
Known as the Nevada Parks, Trails and Open Space District Act
The act spans §§ 318A.010 to 318A.590 (59 sections).
(Added to NRS by 2017, 2714)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.