La. Admin. Code tit. 34 § V-2005

Current through Register Vol. 50, No. 9, September 20, 2024

Section V-2005 - Lease with Purchase Option [Formerly LAC 34:I.2005]

A. Unless a requirement can be met only by the leased supply as determined in writing by an officer above the level of procurement officer, a purchase option in a lease may be exercised only if the lease containing the purchase option was awarded under competitive sealed bidding. Before exercising such an option the chief procurement officer shall:

1. investigate alternative means of procuring comparable supplies; and,

2. compare estimated costs and benefits associated with the alternative means and the exercise of such option, for example, the benefit of buying new state-of-the-art equipment compared to the estimated initial savings associated with exercise of a purchase option.

La. Admin. Code tit. 34, § V-2005

Promulgated by the Office of the Governor, Division of Administration, Office of State Purchasing, LR 21:566 (June 1995), repromulgated LR 40:1362 (July 2014).

AUTHORITY NOTE: Promulgated in accordance with R.S. 39:1581.