Nevada § 541.280 - Board may create sinking fund

Full text of Nevada Nevada Revised Statutes § 541.280 — Board may create sinking fund, with citation guidance and answers to common questions.

§ 541.280. Board may create sinking fund

Whenever a contract of indebtedness has been created by the district, it shall be

lawful for the board to make the annual levy of taxes and special assessments in such

amount as will create a surplus of funds to meet the annual installments of indebtedness

and interest and the necessary maintenance and operating charges, and the board shall

cause such surplus funds to be placed in a sinking fund which may be used for the

payments of contingencies, defaults and delinquencies, and to pay the future annual

installments of indebtedness on contracts and interest.

Related Nevada Legal Topics

Frequently Asked Questions About Nevada § 541.280

What does Nevada Revised Statutes § 541.280 cover?

Section 541.280 ("Board may create sinking fund") 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 § 541.280?

A common citation format is "Nevada Revised Statutes § 541.280" (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 § 541.280 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.