2010 Nevada Code
TITLE 34 EDUCATION
Chapter 386 Local Administrative Organization
NRS 386.576 Creation; investment; deposit of money; payment of claims; acceptance of gifts and grants.
NRS 386.576 Creation; investment; deposit of money; payment of claims; acceptance of gifts and grants.
1. The Fund for Charter Schools is hereby created in the State Treasury as a revolving loan fund, to be administered by the Department.
2. The money in the revolving fund must be invested as other state funds are invested. All interest and income earned on the money in the revolving fund must be credited to the revolving fund. Any money remaining in the revolving fund at the end of a fiscal year does not revert to the State General Fund, and the balance in the Fund must be carried forward.
3. All payments of principal and interest on all the loans made to a charter school from the revolving fund must be deposited in the State Treasury for credit to the revolving fund.
4. Claims against the revolving fund must be paid as other claims against the State are paid.
5. The Department may accept gifts, grants, bequests and donations from any source for deposit in the revolving fund.
(Added to NRS by 2001, 3124)
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