NRS 324.210
Forfeiture of contract and bond: Notice
- sale of uncompleted works.
1.
Upon the failure of any party having a contract with the State for the construction of irrigation works to begin the works within the time specified by the contract, or to complete the works within the time or in accordance with the specifications of the contract to the satisfaction of the State Engineer, the Division shall give the party written notice of the failure. If after a period of 60 days after the sending of the notice, the party fails to proceed with the work or to conform to the specifications of the contract, the bond and contract of the party and all works constructed under it are forfeited to the State. The Division shall at once so declare and give notice once a week for a period of 4 weeks in some newspaper of general circulation in the county or counties in which the work is situated, and in one newspaper at the State Capital in like manner and for a like period, of:(a)
The forfeiture of the contract; and(b)
That upon a fixed day proposals will be received at the office of the Division for the purchase of the uncompleted works and for the completion of the contract.2.
The Division shall give notice in its advertisement for proposals for the purchase of the uncompleted works that the successful bidder is required, before the transfer of ownership, to furnish a satisfactory bond in a prescribed sum conditioned for the faithful fulfillment of the uncompleted provisions of the contract.3.
The time of receiving bids must be at least 60 days after the issuing of the last notice of forfeiture.4.
The money received by the Division from the sale of partially completed works under the provisions of this section must first be applied to the expenses incurred by the State in their forfeiture and disposal and to satisfy the bond. The surplus, if any exists, must be deposited in the Carey Act Account.
Source:
Section 324.210 — Forfeiture of contract and bond: Notice; sale of uncompleted works., https://www.leg.state.nv.us/NRS/NRS-324.html#NRS324Sec210.