Nevada Revised Statutes 332.146 – Purchase or acquisition at auction, closeout and bankruptcy sales, sale of merchandise left after exhibition or other similar sale
1. Except as otherwise provided by law, if the governing body or its authorized representative determines that the supplies, materials or equipment can be purchased at any public auction, closeout sale, bankruptcy sale, sale of merchandise left after an exhibition, or other similar sale at a reasonable savings over the cost of like merchandise and below the market cost in the community, a contract or contracts may be let or the purchase made without complying with the requirements of this chapter for a competitive solicitation.
Terms Used In Nevada Revised Statutes 332.146
- Authorized representative: means a person designated by the governing body to be responsible for the development, award and proper administration of all purchases and contracts for a local government or a department, division, agency, board or unit of a local government made pursuant to this chapter. See Nevada Revised Statutes 332.025
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Contract: A legal written agreement that becomes binding when signed.
- Governing body: means the board, council, commission or other body in which the general legislative and fiscal powers of the local government are vested. See Nevada Revised Statutes 332.025
- Solicitation: means a written statement which sets forth the requirements and specifications of a contract to be awarded by:
(a) An invitation to bid;
(b) A request for proposals;
(c) A request for a statement of qualifications;
(d) A request for a quotation; or
(e) Any other accepted method of purchasing that complies with the provisions of this chapter. See Nevada Revised Statutes 332.025
2. The documentation for the purchase or acquisition must be summarized for the next regularly scheduled meeting of the governing body, together with written justification showing the savings involved.