539.6364 - Considerations in certifying annual levies; additional levies in event of insufficient revenue.
539.6364 Considerations in certifying annual levies; additional levies in event of insufficient revenue.
1. The board of directors, in certifying annual levies as provided in NRS 539.6363, shall take into account for the ensuing year maturing bonds and interest on bonds, and deficiencies and defaults of prior years, and shall make ample provision for the payment thereof.
2. In case the moneys produced from such levies, together with other revenues of the district, are not sufficient punctually to pay the annual installments on its bonds and interest thereon and to pay defaults and deficiencies, then the board of directors shall make such additional levies of taxes as may be necessary for such purposes, and notwithstanding any limitations, such taxes shall be made and continue to be levied until the bonds of the district, both principal and interest, shall be fully paid.
(Added to NRS by 1963, 1007)