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

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outdated mechanical voting systems and mechanical recording devices.