1. If a loan is made from the State Permanent School Fund pursuant to NRS 387.526, the loan must be repaid by the school district from the money that is available to the school district to pay the debt service on the bonds that are guaranteed pursuant to the provisions of NRS 387.513 to 387.528, inclusive, unless payment from that money would cause the school district to default on other outstanding bonds, medium-term obligations or installment-purchase agreements entered into pursuant to the provisions of NRS 350.087 to 350.095, inclusive.
2. If the school district is not able to repay fully the loan, including any accrued interest, in a timely manner pursuant to subsection 1 or by any other lawful means, the State Treasurer shall withhold the payments of money that would otherwise be distributed to the school district from:
(a) The interest earned on the State Permanent School Fund that is distributed among the various school districts; and
(b) Distributions from the State Education Fund,
until the loan is repaid, including any accrued interest on the loan. The State Treasurer shall apply the money first to the interest on the loan and, when the interest is paid in full, then to the balance. When the interest and balance on the loan are repaid, the State Treasurer shall resume making the distributions that would otherwise be due to the school district.
(Added to NRS by 1997, 2709; A 1999, 599; 2001, 2335; 2019, 4225)
Structure Nevada Revised Statutes
Chapter 387 - Financial Support of School System
NRS 387.013 - State Permanent School Fund: Quarterly financial reports by State Controller.
NRS 387.015 - State Treasurer custodian of securities; liability on bond.
NRS 387.030 - Sources and distribution of State Education Fund.
NRS 387.035 - State Controller to keep separate accounts of money for schools.
NRS 387.040 - Disbursement of money for public schools.
NRS 387.045 - Restrictions on use of money for public schools.
NRS 387.049 - Required manner of administration of money.
NRS 387.069 - "Director" defined.
NRS 387.0693 - "National School Lunch Act" defined.
NRS 387.0695 - "Program" defined.
NRS 387.070 - "Program of nutrition" defined.
NRS 387.073 - "School Breakfast Program" defined.
NRS 387.090 - Powers of trustees of school districts and governing bodies of charter schools.
NRS 387.100 - Studies and appraisals.
NRS 387.114 - Legislative declaration.
NRS 387.117 - Annual report to Governor and Director of Legislative Counsel Bureau.
NRS 387.1213 - Education Stabilization Account: Creation; transfer of money; limitation on balance.
NRS 387.1215 - Establishment of cost adjustment factor for certain public schools in each county.
NRS 387.1216 - Establishment of method to calculate adjustment for necessarily small schools.
NRS 387.1218 - Establishment of attendance area adjustment.
NRS 387.122 - Establishment of statewide multiplier for pupils with disabilities.
NRS 387.1238 - Verification of reports of enrollment and attendance.
NRS 387.1245 - Emergency financial assistance: Conditions; procedures.
NRS 387.12463 - Commission on School Funding: Duties.
NRS 387.1247 - Creation of Account; acceptance of gifts and grants; use of money in Account.
NRS 387.1251 - "Teacher" defined.
NRS 387.131 - Distribution of money in Account.
NRS 387.163 - Local funds available for public schools; reserve of net proceeds of minerals.
NRS 387.170 - County school district fund: Creation; transfers.
NRS 387.175 - County school district fund: Composition.
NRS 387.177 - County school district buildings and sites fund: Creation; composition; expenditures.
NRS 387.2062 - Report concerning failure to comply with recommended minimum expenditure.
NRS 387.210 - Duties of county treasurer.
NRS 387.220 - Penalties for failure of county treasurer or county auditor to perform certain duties.
NRS 387.300 - Budgets: Preparation.
NRS 387.3039 - Duties of Department: Inspections of record books and accounts.
NRS 387.3045 - Report of decline in ending balance of general fund of school district.
NRS 387.305 - Medium-term obligations.
NRS 387.315 - Statements of purpose and invoices to accompany orders; liability of trustees.
NRS 387.319 - Authorized travel by trustee: Payment of travel and subsistence; claims.
NRS 387.320 - Quarterly publication of expenditures of school district.
NRS 387.325 - Limitation of actions on bills incurred by trustees.
NRS 387.3286 - Tax for fund for capital projects: Forms for submission of ballot question; examples.
NRS 387.332 - Duty of Nevada Tax Commission to review need for tax.
NRS 387.3326 - Imposition of tax upon approval of voters.
NRS 387.3328 - Deposit and use of proceeds of tax.
NRS 387.333 - Creation; acceptance of gifts and grants; investment; payment of claims.
NRS 387.400 - Limitation on bonded indebtedness of county school district.
NRS 387.513 - "Executive Director" defined.
NRS 387.519 - Conditions under which State Treasurer may enter into guarantee agreement.
NRS 387.524 - Guarantee agreement: Required contents; approvals required.
NRS 387.531 - Joint acquisition authorized; issuance of negotiable general obligation bonds.
NRS 387.551 - Joint operation and maintenance: Powers of districts.
NRS 387.561 - Interdistrict agreements and contracts.
NRS 387.571 - Powers, rights and benefits of officers, agents and employees of districts preserved.
NRS 387.591 - Liberal construction; other powers preserved.
NRS 387.602 - "Management principles" defined.
NRS 387.607 - Applicability to extent money is available.
NRS 387.618 - Establishment and duties of oversight committee to assist in process of review.
NRS 387.644 - Annual reporting by school districts exempt from review.
NRS 387.652 - Requirements to receive grant; application.