Regulation .07 Personal Property Leases.
Regulation .07 Personal Property Leases.LinkCopy Citation
A.
Definition. “Lease” means a contract for the use of supplies that are not owned by the State.
B.
Application. A lease may be entered into if:
(1)
It is in the best interest of the State;
(2)
All conditions for renewal and costs of termination are set forth in the lease; and
(3)
The lease is not used to circumvent normal procurement procedures.