NRS 354.740
Use of lease-purchase and installment-purchase agreements: Legislative findings and declaration.
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 the residents of this State.2.
The statutory provisions governing the use of lease-purchase and installment-purchase agreements should be interpreted to allow the process of entering into and carrying out these agreements to be as streamlined and efficient as possible.3.
The government of this State and the political subdivisions of this State should not use lease-purchase and installment-purchase agreements to:(a)
Engage in or allow bid-shopping; or(b)
Avoid or circumvent any requirement regarding the payment of prevailing wages for public works.4.
When using lease-purchase and installment-purchase agreements, the government of this State and the political subdivisions of this State should provide for the preferential hiring of Nevada residents to the extent otherwise required by law.5.
If a lease-purchase or installment-purchase agreement pursuant to this section involves the construction, alteration, repair or remodeling of an improvement:(a)
The person or entity that executes one or more contracts or agreements for the actual construction, alteration, repair or remodeling of the improvement shall include in such a contract or agreement the contractual provisions and stipulations that are required to be included in a contract for a public work pursuant to the provisions of NRS 338.013 to 338.090, inclusive.(b)
The government of this State or a political subdivision of this State, the contractor who is awarded the contract or entered into the agreement to perform the construction, alteration, repair or remodeling of the improvement and any subcontractor on the project shall comply with the provisions of NRS 338.013 to 338.090, inclusive, in the same manner as if the government of this State or a political subdivision of this State had undertaken the project or had awarded the contract.
Source:
Section 354.740 — Use of lease-purchase and installment-purchase agreements: Legislative findings and declaration., https://www.leg.state.nv.us/NRS/NRS-354.html#NRS354Sec740.