Contents and filing of resolution adopted to create certain funds.

A resolution adopted by a local government to create a fund of a type which is listed in paragraph (a) of subsection 5 of NRS 354.624 , must be filed with the Department immediately upon adoption and must contain: 1. A statement of the purpose of the fund. 2. The sources of the money that is expected to be deposited in the fund. 3. A short-term and long-term plan for the expenditures from the fund. 4. A plan for the retention or disposition of the balance, reserves and retained earnings of the fund. 5. A mechanism for curing deficiencies in the balance, reserves and retained earnings of the fund. 6. The method by which a determination will be made as to whether the balance, reserve and retained earnings of the fund are reasonable and necessary to carry out the purpose of the fund. 7. A list of all statutes and regulations that apply to the fund.