NRS 333A.090
Financing and structure of performance contract

  • minimum annual operating cost savings from performance contract
  • change orders.

1.

Any financing related to a performance contract must be approved by the Board.

2.

A performance contract may be financed through:

(a)

A person other than the qualified service company.

(b)

An installment-purchase contract or lease-purchase contract. Such an installment-purchase contract or lease-purchase contract is not subject to:

(1)

The provisions of NRS 353.500 to 353.630, inclusive.

(2)

Any requirement of competitive bidding or other restriction imposed on the procedure for the awarding of contracts or the procurement of goods or services.

3.

A performance contract may be structured as:

(a)

A performance contract that guarantees 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 using agency, including, without limitation, any financing charges to be incurred by the using agency over the life of the performance contract. The using agency may require that these savings be verified:

(1)

When the work required by the performance contract is completed and 1 year after that work is completed; or

(2)

Over a sufficient period that demonstrates savings.

(b)

A shared-savings contract which includes provisions mutually agreed upon by the using agency and qualified service company as to the negotiated rate of payments based upon operating cost savings and a stipulated maximum consumption level of energy or water, or both energy and water, over the life of the contract.

4.

The annual operating cost savings resulting from a performance contract must meet or exceed the total annual contract payments to be made by the using agency, including any financing charges to be incurred by the using agency over the life of the performance contract.

5.

A change order to a performance contract executed pursuant to NRS 333A.080 may not be approved by the using agency if the cost of the change order would cause the annual operating cost savings resulting from the performance contract to be less than the total annual contract payments to be made by the using agency, including any financing charges to be incurred by the using agency over the life of the performance contract, unless approval of the change order is more economically feasible than termination of the operating cost-savings measure.

Source: Section 333A.090 — Financing and structure of performance contract; minimum annual operating cost savings from performance contract; change orders., https://www.­leg.­state.­nv.­us/NRS/NRS-333A.­html#NRS333ASec090 (accessed May 26, 2025).

333A.010
Definitions. 333A.015
“Board” defined. 333A.020
“Building” defined. 333A.030
“Operating cost savings” defined. 333A.040
“Operating cost-savings measure” defined. 333A.050
“Performance contract” defined. 333A.060
“Qualified service company” defined. 333A.070
“Using agency” defined. 333A.075
Authority of using agency to enter into performance contract 333A.080
Procedure for determination of qualified service companies by State Public Works Division 333A.082
Notification to qualified service companies 333A.084
Requirements for comprehensive audits. 333A.086
Third-party consultants. 333A.090
Financing and structure of performance contract 333A.091
Proceeds of refunding obligations in escrow or trust: Investment 333A.092
Recital in resolution as conclusive evidence of validity of obligation. 333A.100
Indebtedness of State under contract 333A.110
Period over which payments become due. 333A.120
Prevailing wage requirement. 333A.130
Monitoring of cost savings attributable to operating cost-savings measures. 333A.140
Information concerning performance contract provided to Office of Energy. 333A.150
Financial mechanisms to guarantee operational cost savings are realized. 333A.0902
Installment-purchase and lease-purchase contracts: Security interests 333A.0904
Installment-purchase and lease-purchase contracts: Property that is subject of contract is exempt from ad valorem property taxation under certain circumstances and is to be deemed property of State or using agency for purposes of statutory limits on damages. 333A.0906
Refunding of obligations: Resolution 333A.0908
Refunding of obligations: Disposition of proceeds 333A.0912
Issuance of refunding and other obligations separately or in combination. 333A.0914
Other statutory provisions applicable to refunding obligations. 333A.0916
Conditions for refunding obligations. 333A.0918
Conclusive determination of using agency that statutory limitations have been met.

May 26, 2025

§ 333A.090. Financing & structure of performance contract's source at nv​.us