Section 231.440 - Conditions for disbursement of grant or loan of money from AccountThe Office will not make a grant or loan of money from the Catalyst Account to a sponsoring municipality until the sponsoring municipality has:
1. Entered into an agreement with the Office pursuant to NAC 231.435;2. Submitted the report required pursuant to paragraph (b) of subsection 1 of NAC 231.435 for the period for which the Office will make the grant or loan of money from the Catalyst Account;3. Provided confirmation to the Office that a business receiving a Catalyst Account disbursement is not in default, breach or noncompliance with the agreement entered into by the sponsoring municipality and the business pursuant to paragraph (a) of subsection 1 of NAC 231.435; and4. Provided confirmation to the Office that the sponsoring municipality has no knowledge of any circumstances that indicate a business receiving money derived from the Catalyst Account disbursement is in danger of being unable to satisfy the requirements of the agreement entered into by the sponsoring municipality and the business pursuant to paragraph (a) of subsection 1 of NAC 231.435.Nev. Admin. Code § 231.440
Added to NAC by Office of Economic Dev. by R159-16, eff. 6/26/2018