“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.
NRS 354.535
“General long-term debt” defined
Known as the Local Government Budget and Finance Act
The act spans §§ 354–354 (155 sections).
(Added to NRS by 1981, 1757; A 1995, 1818; 1999, 277; 2001, 1798, 2318; 2003, 78)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.