SUMMARY--Makes appropriation to pay certain obligations of White Pine County School District. (BDR S-1199)
FISCAL NOTE: Effect on Local Government: No.
Effect on the State or on Industrial Insurance: Contains Appropriation not included in Executive Budget.
EXPLANATION - Matter in italics is new; matter in brackets [ ] is material to be omitted.
AN ACT making an appropriation for the relief of White Pine County School District; and providing other matters properly relating thereto.
THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
Section 1 There is hereby appropriated from the state general fund to the state distributive school account in that fund an amount equal to the difference between the total indebtedness, for principal and interest, shown by the documents delivered to the state treasurer pursuant to subsection 1 of section 3 of chapter 36, Statutes of Nevada 1995, and the total of the amounts paid upon that indebtedness pursuant to subsection 2 of that section before the effective date of this act, for disbursement by the state treasurer pursuant to section 3 of chapter 36, Statutes of Nevada 1995, as amended by this act. Any balance of this appropriation remaining after that indebtedness is paid in full reverts to the state general fund when payment is completed.
Sec. 2 Section 3 of chapter 36, Statutes of Nevada 1995, at page 36, is hereby amended to read as follows:
Sec. 3. 1. Within 10 days after the White Pine County School District incurs any obligation pursuant to section 2 of [this act,] chapter 36, Statutes of Nevada 1995, the clerk of the school district shall deliver to the state treasurer certified copies of each document that sets forth the terms and conditions for the payment of that obligation.
2. Notwithstanding the provisions of chapter 387 of NRS and any other legislative measure that provides for the distribution of money in the state distributive school account in the state general fund, as any payment of principal and interest becomes due on any obligation incurred by the school district pursuant to section 2 of [this act,] chapter 36, Statutes of Nevada 1995, the state treasurer shall [:
(a) Pay] pay over to the person to whom the payment is owed, the amount that is due as evidenced by the documents received pursuant to subsection 1. The money must be paid from the money in the state distributive school account in the state general fund that [is subject to distribution to the White Pine County School District pursuant to chapter 387 of NRS.
(b) Withhold from the school money due the White Pine County School District pursuant to NRS 387.185, the amounts that are required to pay any installments of principal and interest pursuant to paragraph (a).] was appropriated by section 1 of this act.
Sec. 3 This act becomes effective upon passage and approval or on June 30, 1997, whichever occurs earlier.