A performance contract must include appropriate financial mechanisms determined to be necessary by the city or county treasurer, as appropriate, to guarantee that operating cost savings are realized by the local government if the actual cost savings do not meet the predicted cost savings.
NRS 332.440
Financial mechanisms to guarantee operational cost savings are realized
Known as the Local Government Purchasing Act
The act spans §§ 332–332 (56 sections).
(Added to NRS by 2003, 3054)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.