The total bonded indebtedness of a county school district must at no time exceed an amount equal to 15 percent of the total of the last assessed valuation of taxable property, excluding motor vehicles, situated within the county school district.
NRS 387.400
Limitation on bonded indebtedness of county school district
[168:32:1956]—(NRS A 1963, 347; 1979, 1592; 1989, 1882; 1995, 179)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.