Space procurement by lease-purchase agreements

§ 2104. Space procurement by lease-purchase agreements Whenever the Postmaster General determines that— (1) there is a substantial need for space for postal purposes in any particular area which cannot be satisfied by utilization of any existing property suitable for the purpose then owned by the Government, (2) the receipts of the post office serving the area exceed $10,000 per year, and 74 Stat. 591 (3) the best interests of the United States will be served by taking action hereunder, he may obtain and provide space for postal purposes in suitable structures of permanent-type construction in the several States, the District of Columbia, and the Territories and possessions of the United States by negotiating and entering into lease-purchase agreements, the terms of which may not be less than ten nor more than twenty-five years and which shall provide in each case that title to the property shall vest in the United States at or before the expiration of the leasehold term and upon fulfillment of the terms and conditions stipulated in each lease-purchase agreement. The terms and conditions shall provide for the application to the purchase price agreed upon therein of rental payments made thereunder. The payments under an agreement may include amounts for the amortization of the fair market value on the date of the agreement of the property described therein. The financial transactions of the Department with respect to lease-purchase agreements are subject to the accounting and auditing requirements of sections 2202, 2206–2208, and 2211 of this title.