Public-domain · open source

NRS 354.6118

Interfund loans or loans to other local governments: Public hearing required

Known as the Local Government Budget and Finance Act

The act spans §§ 354.105–354.790 (155 sections).

(Added to NRS by 2001, 1497; A 2003, 52)

Before making an interfund loan or loaning money to another local government, the governing body of the local government that wishes to make the loan must:

1. Determine at a public hearing that:

(a) A sufficient amount of money is available for the loan and that money is not restricted as to its use; and

(b) The loan of the money will not compromise the economic viability of the fund from which the money is loaned; and

2. Establish at the public hearing conducted pursuant to subsection 1:

(a) The amount of time the money will be on loan from the fund;

(b) The terms and conditions for repaying the loan; and

Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.