A local government may use any savings realized throughout the term of a performance contract to:
1. Make any payments required under the performance contract, including, without limitation, the payment of finance charges; and
2. Reinvest into other operating cost-savings measures provided the local government:
(a) Is satisfying all its other obligations under the performance contract; and
(b) Complies with the requirements of NRS 332.300 to 332.440, inclusive, when reinvesting the savings into other operating cost-savings measures.