Nevada § 396.843 - Bonds and other securities not obligations of or enforceable against State; restrictions on pledges, assignments and encumbrances

§ 396.843. Bonds and other securities not obligations of or enforceable against State; restrictions on pledges, assignments and encumbrances

1. Any bonds or other securities issued hereunder shall not be considered to be obligations

general, special or otherwise of the State, nor to be securities or debt of the State,

and shall not be enforceable against the State. 2. Nothing in the University Securities Law shall be construed to authorize the University

or the Board in any way to obligate the State (except as herein otherwise expressly

provided in NRS 396.844 ), or to pledge, assign or encumber in any way, or to permit the pledging, assigning

or encumbering in any way, of any tuition charges and registration fees paid to the

University or the Board, of the proceeds of any general (ad valorem) property taxes

derived directly or indirectly by the University or the Board for the benefit of the

University, of any income or gain derived from the investment and reinvestment of

moneys accounted for in either the Irreducible University Fund or the Contingent University

Fund, of grants, appropriations or other donations made by the Federal Government,

the State Legislature or any other donor (except for the interest or other gain derived

from the investment and reinvestment of the principal of unrestricted endowments,

as permitted by subsection 8 of NRS 396.828 ), and of any revenues derived from the operation of or otherwise appertaining to

any buildings, structures or other facilities of the Board or University (except for

those classifications thereof designated in subsections 1 to 6, inclusive, of NRS 396.828 ).