NRS350.007. “Medium-term obligation” defined.

Latest version.

“Medium-term obligation” means an obligation to repay borrowed money evidenced by a note or bond which is authorized to be issued pursuant to NRS 350.087 to 350.095, inclusive, and which has a term of 10 years or less. The term does not include an obligation which has a term of less than 1 year and which is payable in full from money appropriated for the same fiscal year that the obligation is incurred.

(Added to NRS by 2001, 2304)

                    
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