NRS 353.2771 Provision of resources of agencies and local governments required for grant or loan.

288 words·~1 min read·/nv/chapter-353-state-financial-administration/353-2771

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1. Except as otherwise provided in this section, no grant or loan may be made from the Account to a state agency or local government unless, as a condition of making the grant or loan, the state agency or local government agrees to provide an amount of its resources equal to at least 25 percent of the grant or loan. The State Board of Examiners shall determine the type, value and amount of the resources, including money, labor, materials, supplies and equipment, that is required to be provided by the state agency or local government.

2. If a state agency or local government submits a request for a grant or loan pursuant to NRS 353.2755 and:

(a)It maintains a policy of insurance providing coverage for damages, injuries or other losses incurred because of a disaster; or

(b)If the request is submitted by a local government, it has established a district for the control of floods pursuant to NRS 543.170 to 543.830 , inclusive,

Ê the State Board of Examiners may recommend that the state agency or local government provide a portion of its resources in an amount that is less than the amount required pursuant to subsection 1.

3. The State Board of Examiners may, if it determines that the state agency or local government is unable to provide any portion of its resources as its contribution for the receipt of a grant or loan, recommend that the state agency or local government not be required to provide any portion of its resources as a condition for the receipt of the grant or loan.

INVESTMENT OF STATE MONEY PLACED IN ESCROW