NRS 354.59819 Separate fund for revenue used for operation of regional facility.

348 words·~2 min read·/nv/chapter-354-local-financial-administration/354-59819·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

1. If two or more counties create an administrative entity pursuant to NRS 354.59818 , the administrative entity shall establish a separate fund to account for the revenue received from taxes levied pursuant to NRS 354.59818 .

2. The money in the fund may only be withdrawn by the administrative entity and must be used only to pay the expenses of operating the regional facility that is operated by the administrative entity.

3. All interest and income from money deposited in the fund must be credited to the fund.

4. The annual budget and audit report of an administrative entity that establishes a fund pursuant to this section must:

(a)Identify the fund;

(b)Indicate in detail all revenue received for the year;

(c)Indicate in detail all expenses for the year which were paid with money from the fund; and

(d)Specifically identify any planned accumulation of money in the fund.

5. Money remaining in the fund at the end of a fiscal year must not revert to any other fund.

6. Upon termination of an interlocal agreement or interlocal contract that creates an administrative entity, the money remaining in a fund established pursuant to this section must be transmitted to the treasurer of each county which was a party to the interlocal agreement or interlocal contract and which levied a tax pursuant to NRS 354.59818 . Each county that is entitled to receive a portion of the money remaining in the fund must receive an amount equal to the same proportion of the total amount of revenue the county contributed to the fund.

A county that receives money pursuant to this section shall deposit the money in a fund established pursuant to NRS 354.6113 or 354.6115 for use in the same manner as other money deposited in that fund.

7. Nothing in this section may be construed to require a board of county commissioners that is a party to an interlocal agreement or interlocal contract to levy a tax pursuant to NRS 354.59818 .