Nevada § 387.519 Conditions under which State Treasurer may enter into guarantee agreement

Nevada Statutes

§ 387.519 — Conditions under which State Treasurer may enter into guarantee agreement

Nevada § 387.519

Title 34EDUCATION

Ch. 387Financial

Guarantee of Bonds With Money From State Permanent School Fund

This text of Nevada § 387.519 (Conditions under which State Treasurer may enter into guarantee agreement) 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. § 387.519 (2026).

Text

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 by the Executive Director; and

(c)The State Treasurer has determined that the amount of bonds to be guaranteed under the agreement, in addition to the total amount of outstanding bonds guaranteed pursuant to NRS 387.513 to 387.528 , inclusive, does not exceed the limitation established by subsection 1 of NRS 387.522 . 2. The requirement that the State Board of Finance approve the report submitted by the Executive Director set forth in paragraph (b) of subsection 1 d

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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 by the Executive Director; and
(c) The State Treasurer has determined that the amount of bonds to be guaranteed under the agreement, in addition to the total amount of outstanding bonds guaranteed pursuant to NRS 387.513 to 387.528 , inclusive, does not exceed the limitation established by subsection 1 of NRS 387.522 .
2. The requirement that the State Board of Finance approve the report submitted by the Executive Director set forth in paragraph (b) of subsection 1 does not apply if:
(a) The bonds proposed to be guaranteed are being issued solely to refund bonds that are guaranteed pursuant to NRS 387.513 to 387.528 , inclusive; and
(b) The total principal and interest due in any year on the bonds proposed to be guaranteed does not exceed the total principal and interest due in that year on the bonds being refunded.