Nevada Revised Statutes 362.171 – Establishment and use of county fund for mitigation; certain school districts authorized to use money apportioned to school district to retire bonds or other obligations of school district
1. Each county to which money is appropriated by subsection 1 of NRS 362.170 may set aside a percentage of that appropriation to establish a county fund for mitigation. Money from the fund may be appropriated by the board of county commissioners only to mitigate adverse effects upon the county, or the school district located in the county, which result from:
Terms Used In Nevada Revised Statutes 362.171
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- county: includes Carson City. See Nevada Revised Statutes 0.033
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- population: means the number of people in a specified area as determined by the last preceding national decennial census conducted by the Bureau of the Census of the United States Department of Commerce pursuant to Section 2 of Nevada Revised Statutes 0.050
(a) A decline in the revenue received by the county from the tax on the net proceeds of minerals during the 2 fiscal years immediately preceding the current fiscal year; or
(b) The opening or closing of an extractive operation from the net proceeds of which revenue has been or is reasonably expected to be derived pursuant to this chapter.
2. A school district in a county whose population is less than 4,500 may, as the board of trustees of the school district determines is necessary, use a portion of the money apportioned to the school district pursuant to subsection 2 of NRS 362.170 to retire bonds issued by the school district or any other outstanding obligations of the school district. Before authorizing the expenditure of money pursuant to this subsection, the board of trustees shall hold at least one public hearing on the matter.