Nevada § 539.607 - Issuance of notes authorized to meet obligations of district after levy of tax; levy and collection of special tax
Full text of Nevada Nevada Revised Statutes § 539.607 — Issuance of notes authorized to meet obligations of district after levy of tax; levy and collection of special tax, with citation guidance and answers to common questions.
§ 539.607. Issuance of notes authorized to meet obligations of district after levy of tax; levy and collection of special tax
1. If any installment of taxes has been levied for the payment of any outstanding
bonds or interest of any irrigation district, the board of directors may issue notes
bearing a rate of interest which must not exceed by more than 5 percent the Index
of Revenue Bonds which was most recently published before the bids are received or
a negotiated offer is accepted. The notes must be payable out of the installment of taxes so levied and must not be
in excess of 75 percent of the levy. The proceeds derived from those notes may be used only for the purpose of meeting
the obligation of the district for which the tax was levied. 2. If the proceeds of the taxes are insufficient, through delinquency, uncollectibility
of taxes or other cause, to pay, when due, all the lawful debts for which the taxes
were levied, the board of directors shall levy and collect in the next succeeding
year a special tax in addition to all other taxes in an amount sufficient to pay all
of such lawfully contracted indebtedness, and may borrow as provided in this section
in anticipation of that tax to pay off any such lawfully contracted indebtedness.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 539.607
What does Nevada Revised Statutes § 539.607 cover?
Section 539.607 ("Issuance of notes authorized to meet obligations of district after levy of tax; levy and collection of special tax") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 539.607?
A common citation format is "Nevada Revised Statutes § 539.607" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 539.607 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.