Nevada § 387.516 - Application for guarantee agreement; duties of State Treasurer; limitations on amount of guarantee; ineligibility of certain obligations; investigation and report by Executive Director
Full text of Nevada Nevada Revised Statutes § 387.516 — Application for guarantee agreement; duties of State Treasurer; limitations on amount of guarantee; ineligibility of certain obligations; investigation and report by Executive Director, with citation guidance and answers to common questions.
§ 387.516. Application for guarantee agreement; duties of State Treasurer; limitations on amount of guarantee; ineligibility of certain obligations; investigation and report by Executive Director
1. The board of trustees of a school district may apply to the State Treasurer for
a guarantee agreement whereby money in the State Permanent School Fund is used to
guarantee the payment of the debt service on bonds that the school district will issue. The amount of the guarantee for bonds of each school district outstanding at any
one time must not exceed $60,000,000. 2. The application must be on a form prescribed by the State Treasurer. The State Treasurer shall develop the form in consultation with the Executive Director. 3. Medium-term obligations entered into pursuant to the provisions of NRS 350.087 to 350.095 , inclusive, are not eligible for guarantee pursuant to NRS 387.513 to 387.528 , inclusive. 4. Upon receipt of an application for a guarantee agreement from a school district,
the State Treasurer shall provide a copy of the application and any supporting documentation
to the Executive Director. As soon as practicable after receipt of a copy of an application, the Executive
Director shall investigate the ability of the school district to make timely payments
on the debt service of the bonds for which the guarantee is requested. The Executive Director shall submit a written report of the investigation to the
State Board of Finance indicating his or her opinion as to whether the school district
has the ability to make timely payments on the debt service of the bonds.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 387.516
What does Nevada Revised Statutes § 387.516 cover?
Section 387.516 ("Application for guarantee agreement; duties of State Treasurer; limitations on amount of guarantee; ineligibility of certain obligations; investigation and report by Executive Director") 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 § 387.516?
A common citation format is "Nevada Revised Statutes § 387.516" (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 § 387.516 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.