As used in NRS 353.500 to 353.630, inclusive, unless the context otherwise requires, the words and terms defined in NRS 353.510 to 353.540, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 2001, 2478; A 2007, 829, 926)
“Agreement” means an agreement to purchase property, in the form of a lease or an agreement to pay in installments, pursuant to which the State of Nevada or a state agency may pay the purchase price of real or personal property over a period of time which extends beyond the biennium in which the agreement […]
“Board” means the State Board of Finance. (Added to NRS by 2001, 2478)
“Chief” means the Chief of the Budget Division of the Office of Finance. (Added to NRS by 2001, 2479)
“State agency” means an agency, bureau, board, commission, department, division or any other unit of the government of this State that is required to submit information to the Chief pursuant to subsection 1 or 6 of NRS 353.210. “State agency” does not include the Nevada System of Higher Education unless it is anticipated that payments […]
The Legislature hereby finds and declares that: 1. The authority provided by other specific statutes for the government of this State and the political subdivisions of this State to use lease-purchase and installment-purchase agreements provides an important and valuable option for these governmental entities and, when this authority is used properly, provides great benefit to […]
1. A state agency may propose a project to acquire real property, an interest in real property or an improvement to real property through an agreement which has a term, including the terms of any options for renewal, that extends beyond the biennium in which the agreement is executed if the agreement: (a) Provides that […]
1. Before the State of Nevada or a state agency causes or allows a change in the scope of an agreement, the change must be approved by: (a) The Legislature, by concurrent resolution, when the Legislature is in regular or special session; or (b) The Interim Finance Committee, by resolution, while the Legislature is not […]
1. The provisions of NRS 353.500 to 353.630, inclusive, do not obligate the Legislature to appropriate money for payments due pursuant to an agreement entered into pursuant to those sections. 2. A state agency, person acting on behalf of a state agency, officer of this State or employee of this State shall not represent that […]
The State Treasurer may take such actions as he or she deems appropriate to facilitate an agreement pursuant to NRS 353.500 to 353.630, inclusive, including, without limitation: 1. Entering into contracts for relevant professional services; 2. Obtaining credit enhancement and interest rate hedges; and 3. Assisting with the offering of certificates of participation pursuant to […]
An agreement entered into pursuant to NRS 353.500 to 353.630, inclusive, is not subject to any requirement of competitive bidding or other restriction imposed on the procedure for the awarding of contracts. (Added to NRS by 2001, 2479; A 2007, 830)
If an agreement pursuant to NRS 353.500 to 353.630, inclusive, involves the construction, alteration, repair or remodeling of an improvement: 1. Except as otherwise provided in this section, the construction, alteration, repair or remodeling of the improvement may be conducted as specified in the agreement without complying with the provisions of: (a) Any law requiring […]
1. Except as otherwise provided in this section, if an agreement pursuant to NRS 353.500 to 353.630, inclusive, involves an improvement to property owned by the State of Nevada or the state agency, the State Land Registrar, in consultation with the State Treasurer and in conjunction with the agreement, upon approval of the State Board […]
Immediately after an agreement is executed pursuant to NRS 353.550, the state agency on whose behalf the agreement was executed shall file with the Chief, the Director of the Department of Administration and the State Treasurer: 1. A fully executed copy of the agreement; and 2. A schedule of payments that indicates the principal and […]
While an agreement entered into pursuant to NRS 353.500 to 353.630, inclusive, is in effect, the property that is the subject of the agreement is exempt from ad valorem property taxation by this State and its political subdivisions if: 1. An improvement is being constructed on the property pursuant to the agreement; or 2. This […]
While an agreement entered into pursuant to NRS 353.500 to 353.630, inclusive, is in effect, the property that is the subject of the agreement shall be deemed to be the property of this State or the state agency for the purposes of statutory limits on damages that may be awarded against this State, including, without […]
