349.254 - Covenants in resolution authorizing issuance of special obligations impose no liability against State or its general credit.
349.254 Covenants in resolution authorizing issuance of special obligations impose no liability against State or its general credit. None of the covenants, agreements, representations and warranties contained in any resolution authorizing the issuance of bonds or other state securities issued under the provisions of the State 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 State (except the special funds pledged therefor) or against the general credit of the State, payable out of the General Fund of the State, or out of any funds derived from taxation.
(Added to NRS by 1967, 779)