350.608 - Covenants in ordinance authorizing issuance of special obligations impose no liability against municipality or its general credit. - Nevada Statutes

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Statutes > Nevada > Title-30 > Chapter-350 > Local-government-securities-law > 350-608

350.608 Covenants in ordinance authorizing issuance of special obligations impose no liability against municipality or its general credit. None of the covenants, agreements, representations and warranties contained in any ordinance authorizing the issuance of bonds or other municipal securities issued under the provisions of the Local Government Securities Law and constituting special obligations, or in any other instrument appertaining thereto, in the absence of any breach thereof, shall ever impose or shall be construed as imposing any liability, obligation or charge against the municipality (except the special funds pledged therefor) or against the general credit of the municipality, payable out of the general fund of the municipality, or out of any funds derived from taxation.

(Added to NRS by 1967, 430)

State Codes and Statutes

Statutes > Nevada > Title-30 > Chapter-350 > Local-government-securities-law > 350-608

350.608 Covenants in ordinance authorizing issuance of special obligations impose no liability against municipality or its general credit. None of the covenants, agreements, representations and warranties contained in any ordinance authorizing the issuance of bonds or other municipal securities issued under the provisions of the Local Government Securities Law and constituting special obligations, or in any other instrument appertaining thereto, in the absence of any breach thereof, shall ever impose or shall be construed as imposing any liability, obligation or charge against the municipality (except the special funds pledged therefor) or against the general credit of the municipality, payable out of the general fund of the municipality, or out of any funds derived from taxation.

(Added to NRS by 1967, 430)

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State Codes and Statutes

Statutes > Nevada > Title-30 > Chapter-350 > Local-government-securities-law > 350-608

350.608 Covenants in ordinance authorizing issuance of special obligations impose no liability against municipality or its general credit. None of the covenants, agreements, representations and warranties contained in any ordinance authorizing the issuance of bonds or other municipal securities issued under the provisions of the Local Government Securities Law and constituting special obligations, or in any other instrument appertaining thereto, in the absence of any breach thereof, shall ever impose or shall be construed as imposing any liability, obligation or charge against the municipality (except the special funds pledged therefor) or against the general credit of the municipality, payable out of the general fund of the municipality, or out of any funds derived from taxation.

(Added to NRS by 1967, 430)