Terms of Contract

Section 5010.1240  Terms of Contract a)         EDP equipment shall not be sold or traded in for less than its depreciated value.  Depreciated value is based on the current fair market value associated with each item of an EDP equipment nature. b)         No sale and lease-back arrangements may be contracted for unless the Administrator finds such a contract to be of clear financial advantage to the State. c)         All contracts are subject to the approval of the Administrator. Approval shall be granted if criteria set by this Section are met.