Nevada § 293B.124 - Lease of systems or devices by counties with option to purchase: Contents of agreement; deposit and use of rental payments

§ 293B.124. Lease of systems or devices by counties with option to purchase: Contents of agreement; deposit and use of rental payments

1. If a county wants to lease from the Secretary of State mechanical voting systems

or mechanical recording devices which have been approved pursuant to NRS 293B.1045 by the Secretary of State, the Secretary of State and the county shall enter a written

agreement designated as “Lease of Equipment with Option to Purchase.” Each agreement must provide in substance: (a) That the systems and devices particularly described in the agreement are leased

by the State, as lessor, to the county, as lessee, for a term of 2 years from the

date of the agreement, with an exclusive option in the lessee to extend the term for

like periods of 2 years at a time, for an agreed maximum term not exceeding 20 years

after the date of the agreement. (b) That the lessee will maintain and insure the systems and devices for the original

term and each succeeding agreed term. (c) That the aggregate of rental payments provided for under the maximum term of the

lease agreement must equal the aggregate of the purchase price of the mechanical voting

systems and mechanical recording devices covered by the agreement, together with all

interest, shipping, installation and other costs paid or agreed to be paid by the

State. Upon payment of the latter aggregate sum by any lessee to the State, the State shall

forthwith convey to that lessee legal title to the systems and devices covered by

the paid agreement. 2. All rental payments received under all such agreements entered into pursuant to

this section must be deposited into a separate account in the State General Fund to

be used to replace aging and outdated mechanical voting systems and mechanical recording

devices.