NRS 387.513 – “Executive Director” defined.

As used in NRS 387.513 to 387.528, inclusive, unless the context otherwise requires, “Executive Director” means the Executive Director of the Department of Taxation. (Added to NRS by 1997, 2707; A 1999, 599)

NRS 387.516 – Application for guarantee agreement; duties of State Treasurer; limitations on amount of guarantee; ineligibility of certain obligations; investigation and report by Executive Director.

1. The board of trustees of a school district may apply to the State Treasurer for a guarantee agreement whereby money in the State Permanent School Fund is used to guarantee the payment of the debt service on bonds that the school district will issue. The amount of the guarantee for bonds of each school […]

NRS 387.519 – Conditions under which State Treasurer may enter into guarantee agreement.

1. The State Treasurer may enter into a guarantee agreement if: (a) The report submitted by the Executive Director indicates that a school district has the ability to make timely payments on the debt service of the bonds; (b) Except as otherwise provided in subsection 2, the State Board of Finance approves the report submitted […]

NRS 387.522 – Limitation on total amount of outstanding bonds that may be guaranteed; certification by State Treasurer deemed pledge by this state.

1. The total amount of outstanding bonds guaranteed pursuant to NRS 387.513 to 387.528, inclusive, must not exceed: (a) Two hundred fifty percent of the lower of the cost or fair market value of the assets in the State Permanent School Fund; (b) A percentage of the lower of the cost or fair market value […]

NRS 387.524 – Guarantee agreement: Required contents; approvals required.

1. A guarantee agreement entered into pursuant to NRS 387.519 must: (a) Require the board of trustees of the school district to appoint the State Treasurer, or a commercial bank designated by the State Treasurer, as paying agent for the debt service on the bonds; (b) Specify the number of days before a payment on […]

NRS 387.526 – Loan to school district upon failure to make timely payment on debt service of guaranteed bonds: Duties of State Treasurer and Executive Director; interest; restrictions on school district.

1. If a school district fails to make a timely payment on the debt service of bonds that are guaranteed pursuant to the provisions of NRS 387.513 to 387.528, inclusive, the State Treasurer shall: (a) Withdraw from the State Permanent School Fund the amount of money due for the payment on the debt service; (b) […]

NRS 387.528 – Repayment of loan by school district; duty of State Treasurer to withhold other money from school district upon failure to repay.

1. If a loan is made from the State Permanent School Fund pursuant to NRS 387.526, the loan must be repaid by the school district from the money that is available to the school district to pay the debt service on the bonds that are guaranteed pursuant to the provisions of NRS 387.513 to 387.528, […]