R23-1-1203. Leases of Personal Property

Leases of personal property are subject to the following: (1) Leases are subject to Section 63G-6a-1209 and all other laws or rules applicable to the lease. (2) Executive Branch Procurement Unit Leases with Purchase Option. A purchase option in a lease may be exercised if the lease containing the purchase option was awarded under an authorized procurement process. Before exercising this option, the division shall: (a) investigate alternative means of procuring comparable procurement items; and (b) compare estimated costs and benefits associated with the alternative means and the exercise of the option, for example, the benefit of buying new state of the art data processing equipment compared to the estimated, initial savings associated with exercise of a purchase option.