The determination of the Board that the limitations hereunder imposed upon the issuance of bonds or upon the issuance of other securities hereunder, including without limitation any securities for funding or refunding securities, have been met shall be conclusive in the absence of fraud or arbitrary and gross abuse of discretion regardless of whether the authorizing resolution or the securities thereby authorized contain a recital as authorized by NRS 396.851.
(Added to NRS by 1967, 22; A 1969, 1603)
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