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2019 Nevada Revised Statutes
Chapter 354 - Local Financial Administration
NRS 354.6118 - Interfund loans or loans to other local governments: Public hearing required.
Universal Citation: NV Rev Stat § 354.6118 (2019)
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
(c) The rate of interest, if any, to be charged for the loan.
(Added to NRS by 2001, 1497; A 2003, 52)
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