543.650 - Deposit of money in regional fund for control of floods; creation of reserve fund; limitations on use of money in funds. - Nevada Statutes

543.650  Deposit of money in regional fund for control of floods; creation of reserve fund; limitations on use of money in funds.

      1.  The proceeds of all taxes and charges levied or imposed for the support of the district and all other revenues received for its account from any source must be deposited in the regional fund for the control of floods. No money may be drawn from the fund except for the use of the district.

      2.  Whenever any indebtedness has been incurred by a district, the board may also levy taxes and collect revenue for the purpose of creating a reserve fund in such amount as the board may determine, which may only be used to meet the obligations of the district, for maintenance and operating charges and depreciation, and to provide extension of and betterments to the improvements of the district.

      3.  The board shall not use money in the regional fund for the control of floods or the reserve fund:

      (a) For the construction, operation, maintenance, extension or repair of streets, highways or bridges, except as authorized pursuant to NRS 543.170 to 543.830, inclusive; or

      (b) To supplement the budget of the county in which the district is located.

      (Added to NRS by 1961, 440; A 1985, 1199; 1991, 1400)