Nev. Admin. Code § 350.010

Current through November 8, 2024

Section 350.010 - Annual statement and report by municipalities

1. The statement and report which is required by NRS 350.013 must include:

(a) A brief narrative which describes each type of indebtedness used or contemplated for use by the governing body or board;

(b) A schedule which sets forth:

(1) The contemplated date of the sale and the amount of any bonds which have been approved by election but not yet sold;

(2) The contemplated date of an election or other authorization and the amount of any bonds which are contemplated to be issued before the end of the fiscal year following the date of the schedule; and

(3) The amount of any other debts, such as mortgages or capital leases, which the governing body or board contemplates incurring before the end of the fiscal year following the date of the schedule;

(c) A schedule which sets forth, on a form provided by the Department of Taxation, the amount of general obligation debt of the political subdivision or general improvement district;

(d) A schedule which sets forth, on a form provided by the Department of Taxation, the total amount of indebtedness of the political subdivision or general improvement district;

(e) A schedule which sets forth, on a form provided by the Department of Taxation, the amount of money required to satisfy the indebtedness of the political subdivision or general improvement district for the 5 years immediately following the date of the statement or report; and

(f) A schedule which sets forth, on a form provided by the Department of Taxation, the amount of money required to satisfy each debt of the political subdivision or general improvement district for each year until the debt is retired.

2. The submission to the Department of Taxation before July 1 of a copy of the statement and report submitted for the same year to a debt management commission pursuant to NRS 350.013 fulfills the requirements set forth in subsection 1 of NRS 354.6025.

3. For the purposes of this section, "indebtedness" includes a debt which is:

(a) Legally payable from general revenues and is backed by the full faith and credit of a governmental unit;

(b) Represented by securities of a local government issued pursuant to chapter 350 of NRS;

(c) A medium-term obligation created pursuant to NRS 350.087 to 350.095, inclusive; or

(d) Represented by revenue bonds of the governmental unit.

Nev. Admin. Code § 350.010

Tax Comm'n, Local Gov't Reg. No. 23, eff. 7-2-82-NAC A by R028-99, 1-27-2000; A by Com. on Local Gov't Finance by R027-03, 12-16-2003

NRS 350.009, 350.013, 354.107, 354.6025, 360.090