1. A district, upon the affirmative vote of a majority of the board, may borrow money without an election in anticipation of the collection of taxes or other revenues and to issue short-term notes to evidence the amount so borrowed.
2. Such short-term notes:
(a) Must be payable from the fund for which the money was borrowed.
(b) Must mature in accordance with the provisions of NRS 350.091.
(c) Must not be extended or funded except in compliance with NRS 543.690.
(Added to NRS by 1961, 442; A 1991, 1374; 1995, 1828)