279.620 - Revolving fund: Establishment; sources.
279.620 Revolving fund: Establishment; sources.
1. At any time after it has adopted a resolution declaring that there is need for an agency to function in the community, the legislative body may establish a redevelopment revolving fund to be kept in the treasury of the community.
2. For the purpose of raising money to be deposited in such fund, the legislative body may appropriate money or the community may issue and sell general obligation bonds.
(Added to NRS by 1959, 666)