Nevada Administrative Code
Chapter 350 - Municipal Obligations
MEDIUM-TERM OBLIGATIONS
Section 350.140 - Interest

Universal Citation: NV Admin Code 350.140

Current through September 16, 2024

1. If the money for a medium-term obligation is obtained from an existing fund of a local government, the resolution authorizing the medium-term obligation must specify whether interest will be charged and the rate thereof, if any. If the resolution specifies such a rate of interest, the Executive Director of the Department of Taxation may, in determining whether to approve the resolution pursuant to NRS 350.089, consider whether that rate of interest reasonably reflects current market conditions and the duration of the medium-term obligation.

2. If the resolution does not specify whether interest will be charged on the medium-term obligation, no interest may be charged.

Added to NAC by Tax Comm'n, eff. 7-9-96; A by Com. on Local Gov't Finance by R135-10, 12-16-2010

NRS 350.009, 350.087, 350.089, 360.090

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