Nevada § 387.526 - Loan to school district upon failure to make timely payment on debt service of guaranteed bonds: Duties of State Treasurer and Executive Director; interest; restrictions on school district
Full text of Nevada Nevada Revised Statutes § 387.526 — Loan to school district upon failure to make timely payment on debt service of guaranteed bonds: Duties of State Treasurer and Executive Director; interest; restrictions on school district, with citation guidance and answers to common questions.
§ 387.526. Loan to school district upon failure to make timely payment on debt service of guaranteed bonds: Duties of State Treasurer and Executive Director; interest; restrictions on school district
1. If a school district fails to make a timely payment on the debt service of bonds
that are guaranteed pursuant to the provisions of NRS 387.513 to 387.528 , inclusive, the State Treasurer shall: (a) Withdraw from the State Permanent School Fund the amount of money due for the
payment on the debt service; (b) Make the payment on the debt service; and (c) Report the payment to the Executive Director. 2. The amount of money withdrawn pursuant to subsection 1 shall be deemed a loan to
the school district from the State Permanent School Fund. The State Treasurer shall determine the rate of interest on the loan, which must
not exceed 1 percent above the average rate of interest yielded on investments in
the State Permanent School Fund on the date that the loan is made. A loan that is made to a school district pursuant to this subsection is a special
obligation of the school district and is payable only from the sources specified in NRS 387.528 . 3. A school district that receives a loan pursuant to this section shall not: (a) Include the loan as a general obligation of the school district when determining
any limit on the debt of the school district. (b) Unless the school district obtains the written approval of the Executive Director,
for the period during which the loan is unpaid, enter into any medium-term obligations
or installment-purchase agreement pursuant to the provisions of NRS 350.087 to 350.095 , inclusive, or otherwise borrow money. 4. If the Executive Director receives notice that a loan has been made pursuant to
this section, the Executive Director shall proceed pursuant to the provisions of NRS 354.685 .
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 387.526
What does Nevada Revised Statutes § 387.526 cover?
Section 387.526 ("Loan to school district upon failure to make timely payment on debt service of guaranteed bonds: Duties of State Treasurer and Executive Director; interest; restrictions on school district") 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 § 387.526?
A common citation format is "Nevada Revised Statutes § 387.526" (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 § 387.526 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.