Nev. Rev. Stat. § 360.698 — Pledge of percentage of revenue to payment of bonds

1.  A local government or special district
which receives revenue pursuant to NRS
360.680 , 360.690 and 360.700 may pledge not more than 15 percent
of that revenue to the payment of any general obligation bond or revenue bond
issued by the local government or special district pursuant to chapter 350 of NRS.
2.  Any revenue pledged pursuant to
subsection 1 for the payment of a general obligation bond issued by a local
government or special district pursuant to chapter
350 of NRS shall be deemed to be pledged revenue of the project for the
purposes of NRS 350.020 .
3.  For bonds issued pursuant to this
section before July 1, 1998, by a local government, special district or
enterprise district:
(a) A pledge of 15 percent of the revenue
distributed pursuant to NRS 360.680 , 360.690 and 360.700 is substituted for the pledge of 15
percent of the revenue distributed pursuant to NRS 377.057 , as that section existed on
January 1, 1997; and
(b) A local government, special district or
enterprise district shall increase the percentage specified in paragraph (a) to
the extent necessary to provide a pledge to those bonds that is equivalent to
the pledge of 15 percent of the amount that would have been received by that
local government, special district or enterprise district pursuant to NRS 377.057 , as that section existed on
January 1, 1997.