105 IAC 12-4-2 Equipment rental or lease agreements

Sec. 2. (a) The department may enter into a rental or lease agreement under the following circumstances: (1) When the total cost of the proposed rental over the anticipated period of use of the equipment does not exceed the original cost of the equipment to be rented. (2) When the rent to be paid by the department does not exceed the amount listed in the most recent issue of the "Compilation of Rental Rates for Construction Equipment", as prepared and distributed by the Associated Equipment Distributors. (b) In the case of an emergency, if it is impossible for the department to procure the necessary equipment by rental under subsection (a), the department may rent equipment subject to the approval of the state budget committee.