A district hospital that is authorized pursuant to NRS 450.720 or 450.725 to purchase supplies, materials, equipment and services in accordance with this section through the purchasing contracts of the company that manages the hospital or through a purchasing group may purchase the supplies, materials, equipment and services without complying with the requirements for competitive bidding set forth in chapter 332 of NRS if:

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1.  The documents pertaining to the proposed purchase, including, without limitation, the prices available to the company or purchasing group, are summarized in writing and, together with a sworn statement by an officer or agent of the company or purchasing group that the prices were obtained by the company or purchasing group through a process of competitive bidding, are presented to the board of trustees at its next regularly scheduled meeting; and

2.  The board of trustees, after reviewing the summary and statement, finds that the proposed purchase will be made at a lower price than the lowest price reasonably obtainable by the hospital through competitive bidding pursuant to chapter 332 of NRS or available to the hospital pursuant to NRS 333.470 and approves the proposed purchase.