Nevada § 332.370 Financing and structure of performance contract

Nevada Statutes

§ 332.370 — Financing and structure of performance contract

Nevada § 332.370

Title 27PUBLIC PROPERTY AND PURCHASING

Ch. 332Purchasing:

PERFORMANCE CONTRACTS FOR OPERATING COST-SAVINGS MEASURES

This text of Nevada § 332.370 (Financing and structure of performance contract) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 332.370 (2026).

Text

1.A performance contract may be financed through a person other than the qualified service company.

2.A performance contract must be structured to guarantee operating cost savings, which includes, without limitation, the design and installation of equipment, the operation and maintenance, if applicable, of any of the operating cost-savings measures and the guaranteed annual savings which must meet or exceed the total annual contract payments to be made by the local government, including any financing charges to be incurred by the local government over the life of the performance contract. The local government may require that these savings be verified annually or over a sufficient period that demonstrates savings.

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1. A performance contract may be financed through a person other than the qualified service company.
2. A performance contract must be structured to guarantee operating cost savings, which includes, without limitation, the design and installation of equipment, the operation and maintenance, if applicable, of any of the operating cost-savings measures and the guaranteed annual savings which must meet or exceed the total annual contract payments to be made by the local government, including any financing charges to be incurred by the local government over the life of the performance contract. The local government may require that these savings be verified annually or over a sufficient period that demonstrates savings.