Nevada § 354.6256 Use of proceeds of certain obligations to pay operating expenses prohibited; exceptions

Nevada Statutes

§ 354.6256 — Use of proceeds of certain obligations to pay operating expenses prohibited; exceptions

Nevada § 354.6256

Title 31PUBLIC FINANCIAL ADMINISTRATION

Ch. 354Local

BUDGETS OF LOCAL GOVERNMENTS

This text of Nevada § 354.6256 (Use of proceeds of certain obligations to pay operating expenses prohibited; exceptions) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 354.6256 (2026).

Text

The proceeds from any obligation issued by a local government that has a term which is more than 1 year must not be used to pay operating expenses, except that:

1.The proceeds of any obligation issued to construct or acquire a facility may be used to pay operating expenses for the period provided in subsection 7 of NRS 350.516 .

2.The proceeds of a medium-term obligation issued by a local government with respect to which the Nevada Tax Commission has determined that a severe financial emergency exists pursuant to NRS 354.685 may be used to pay operating expenses with the approval of the Executive Director of the Department of Taxation.

Free access — add to your briefcase to read the full text and ask questions with AI

The proceeds from any obligation issued by a local government that has a term which is more than 1 year must not be used to pay operating expenses, except that:
1. The proceeds of any obligation issued to construct or acquire a facility may be used to pay operating expenses for the period provided in subsection 7 of NRS 350.516 .
2. The proceeds of a medium-term obligation issued by a local government with respect to which the Nevada Tax Commission has determined that a severe financial emergency exists pursuant to NRS 354.685 may be used to pay operating expenses with the approval of the Executive Director of the Department of Taxation.