1. For each biennium, moneys must be provided by direct legislative appropriation from the State General Fund sufficient in amount to meet the bond interest and redemption requirements of the State of Nevada, as designated by the various issues of bonds for which the faith of the State of Nevada has been or may hereafter be pledged. The amount must be determined by the Legislature from time to time so as to effectuate the purposes of NRS 349.080 to 349.140, inclusive.
2. All moneys so appropriated must be placed in the Consolidated Bond Interest and Redemption Fund. All moneys so appropriated and placed are hereby expressly set apart and appropriated to discharge the obligations of the State of Nevada for bond interest and redemption of bonds issued before, on or after March 28, 1939.