Assembly Bill No. 549–Committee on Government Affairs

 

CHAPTER..........

 

AN ACT relating to water systems; increasing the amount of general obligation bonds that the state board of finance may issue to provide grants to publicly owned water systems for capital improvements; and providing other matters properly relating thereto.

 

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN

SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

 

   Section 1.  NRS 349.986 is hereby amended to read as follows:

   349.986  The state board of finance shall issue general obligation bonds

 of the State of Nevada in the face amount of not more than [$50,000,000]

 $69,000,000 to support the purposes of the program. The net proceeds

 from the sale of the bonds must be deposited in the fund. The bonds must

 be redeemed through the consolidated bond interest and redemption fund.

   Sec. 2.  This act becomes effective on July 1, 2001.

 

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