NRS 333A.100
Indebtedness of State under contract

  • term of contracts.

1.

Notwithstanding any provision of this chapter to the contrary, a performance contract entered into pursuant to this chapter does not create a debt for the purposes of Section 3 of Article 9 of the Nevada Constitution.

2.

Except as otherwise provided in this section, the term of a performance contract may extend beyond the biennium in which the contract is executed, provided that the performance contract contains a provision which states that all obligations of the State under the performance contract are extinguished at the end of any fiscal year if the Legislature fails to provide an appropriation to the using agency for the ensuing fiscal year for payments to be made under the performance contract. If the Legislature fails to appropriate money to a using agency for a performance contract, there is no remedy against the State, except that if a security interest in any property was created pursuant to the performance contract, the holder of such a security interest may enforce the security interest against that property. Except as otherwise provided in NRS 333A.0916, the term of a performance contract must not exceed 20 years after the date on which the work required by the performance contract is completed.

3.

The length of a performance contract may reflect the useful life of the operating cost-savings measure being installed or purchased under the performance contract.

Source: Section 333A.100 — Indebtedness of State under contract; term of contracts., https://www.­leg.­state.­nv.­us/NRS/NRS-333A.­html#NRS333ASec100.

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.
Last Updated

Feb. 5, 2021

§ 333A.100’s source at nv​.us