Advances of money for certain improvements in lieu of issuance of bonds or interim securities.

In lieu of issuing bonds or interim securities to defray the cost of an improvement to be constructed by way of a special improvement district, the governing body may advance money to cover that cost from: 1. The general fund of the municipality, if the cost of the improvement does not exceed $300,000; or 2. A proprietary fund, if the municipality has established a proprietary fund for that purpose pursuant to NRS 354.612. (Added to NRS by 1979, 489; A 1981, 955; 1989, 610; 2001, 1821)