Section 408.389 - Approval of Board of Directors required for purchase of certain equipment; analysis of costs and benefits of purchase and alternatives1. Except as otherwise provided in subsection 2, the Department shall not purchase any equipment which exceeds $50,000, unless the purchase is first approved by the Board.2. Before the Board may approve the purchase of any mobile equipment which exceeds $50,000, the Department shall: (a) Prepare and present to the Board an analysis of the costs and benefits, including, without limitation, all related personnel costs, that are associated with:(1) Purchasing, operating and maintaining the same item of equipment;(2) Leasing, operating and maintaining the same item of mobile equipment; or(3) Contracting for the performance of the work which would have been performed using the mobile equipment; and(b) Justify the need for the purchase based on that analysis.3. The Board shall not: (a) Delegate to the Director its authority to approve purchases of equipment pursuant to subsection 1; or(b) Approve any purchase of mobile equipment which exceeds $50,000 and for which the Department is unable to provide justification pursuant to subsection 2.Added to NRS by 1991, 1904; A 1993, 1366; 2011, 1628; 2017, 4139; 2021, 3816; 2023, 2827Amended by 2023, Ch. 463,§8, eff. 7/1/2023.Amended by 2021, Ch. 553,§20, eff. 7/1/2021.Amended by 2017, Ch. 575,§37.6, eff. 6/13/2017.Added to NRS by 1991, 1904; A 1993, 1366; 2011, 1628 effective on the date on which the Director of the Department of Transportation notifies the Governor and the Director of the Legislative Counsel Bureau that sufficient money is available to capitalize and carry out the business of the Nevada State Infrastructure Bank created by NRS 408.55069