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Nevada Revised Statutes Title 31. Public Financial Administration § 354.6118. Interfund loans or loans to other local governments:  Public hearing required

Current as of January 01, 2021 | Updated by FindLaw Staff

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.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 31. Public Financial Administration § 354.6118. Interfund loans or loans to other local governments:  Public hearing required - last updated January 01, 2021 | https://codes.findlaw.com/nv/title-31-public-financial-administration/nv-rev-st-354-6118/

Read this complete Nevada Revised Statutes Title 31. Public Financial Administration § 354.6118. Interfund loans or loans to other local governments:  Public hearing required on Westlaw

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