{"data":{"id":"us-nv/nrs-354.6256","jurisdiction":"us-nv","citation":"NRS 354.6256","heading":"Use of proceeds of certain obligations to pay operating expenses prohibited; exceptions.","body":"The proceeds from any obligation issued by a local government that has a term which is more than 1 year must not be used to pay operating expenses, except that:\n1. The proceeds of any obligation issued to construct or acquire a facility may be used to pay operating expenses for the period provided in subsection 7 of NRS 350.516.\n2. The proceeds of a medium-term obligation issued by a local government with respect to which the Nevada Tax Commission has determined that a severe financial emergency exists pursuant to NRS 354.685 may be used to pay operating expenses with the approval of the Executive Director of the Department of Taxation.","path":["TITLE 31 — PUBLIC FINANCIAL ADMINISTRATION","CHAPTER 354 - LOCAL FINANCIAL ADMINISTRATION","BUDGETS OF LOCAL GOVERNMENTS"],"source_url":"https://www.leg.state.nv.us/NRS/NRS-354.html#NRS354Sec6256","current_through":"2025 session (NRS as revised 2026-08-25)","vintage":"","retrieved_at":"2026-09-03T05:51:37Z","sha256":"9473d23667f54d10126c1159947d313f6bff6a36b17bffe6755e7aa2afbac3a7","source_id":"us-nv","stale":true,"prev":"us-nv/nrs-354.625","next":"us-nv/nrs-354.626"},"notice":"GroundRules: Original legal text. Not legal advice."}