Nev. Rev. Stat. § 361.463 — Reduction of tax levy which exceeds statutory limitation; priority of taxes levied for payment of bonded indebtedness

NRS  361.463    Reduction of tax levy which exceeds statutory limitation;
priority of taxes levied for payment of bonded indebtedness.
1.  In any year in which the total taxes
levied by all overlapping units within the boundaries of the State exceed the
limitation imposed by NRS 361.453 , and
it becomes necessary for that reason to reduce the levies made by any of those
units, the reduction so made must be in taxes levied by those units (including the
State) for purposes other than the payment of bonded indebtedness, including
interest thereon.
2.  The taxes levied for the payment of
bonded indebtedness and the interest thereon enjoy a priority over taxes levied
by each such unit (including the State) for all other purposes where reduction
is necessary to comply with the limitation imposed by NRS 361.453 .