Nevada § 387.328 - Establishment; purposes; accumulation of money for specified period; source; reversion prohibited; pledge of proceeds for payment on bonds
Full text of Nevada Nevada Revised Statutes § 387.328 — Establishment; purposes; accumulation of money for specified period; source; reversion prohibited; pledge of proceeds for payment on bonds, with citation guidance and answers to common questions.
§ 387.328. Establishment; purposes; accumulation of money for specified period; source; reversion prohibited; pledge of proceeds for payment on bonds
1. The board of trustees of each school district shall establish a fund for capital
projects for the purposes set forth in subsection 1 of NRS 387.335 . The money in the fund for capital projects may be transferred to the debt service
fund to pay the cost of the school district's debt service. 2. The board of trustees may accumulate money in the fund for capital projects for
a period not to exceed 20 years. 3. That portion of the governmental services tax whose allocation to the school district
pursuant to NRS 482.181 is based on the amount of the property tax levy attributable to its debt service
must be deposited in the county treasury to the credit of the fund established under
subsection 1 or the school district's debt service fund. 4. No money in the fund for capital projects at the end of the fiscal year may revert
to the county school district fund, nor may the money be a surplus for any other purpose
than those specified in subsection 1. 5. The proceeds of the taxes deposited in the fund for capital projects pursuant to NRS 244.3354 , 268.0962 , 375.070 , 377C.110 , 387.3288 and 387.3289 and, in a county whose population is 100,000 or more but less than 700,000, the portion
of the governmental services tax whose allocation to the school district pursuant
to NRS 482.181 is based on the amount of the property tax levy attributable to its debt service
may be pledged to the payment of the principal and interest on bonds or other obligations
issued for one or more of the purposes set forth in NRS 387.335 . The proceeds of such taxes so pledged may be treated as pledged revenues for the
purposes of subsection 3 of NRS 350.020 , and the board of trustees of a school district may issue bonds for those purposes
in accordance with the provisions of chapter 350 of NRS .
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 387.328
What does Nevada Revised Statutes § 387.328 cover?
Section 387.328 ("Establishment; purposes; accumulation of money for specified period; source; reversion prohibited; pledge of proceeds for payment on bonds") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 387.328?
A common citation format is "Nevada Revised Statutes § 387.328" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 387.328 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.