Kan. Admin. Regs. § 36-41-4

Current through Register Vol. 43, No. 44, October 31, 2024

Section 36-41-4 - Interest rate and service fees

(a) Each equipment lease agreement payment shall include an interest component based on the amortized balance of the cost of the equipment, in accordance with the amortization schedule incorporated in the equipment lease agreement. The interest rate for each equipment lease agreement shall be the published rate in effect on the effective date of the agreement, as that rate is established and published by the secretary on the first day of each month. This rate shall be consistent with the provisions of K.S.A. 10-1009 and amendments thereto.

(b) Any access lease agreement with an authorized governmental entity or an authorized public safety agency and any equipment lease agreement with an authorized public safety agency may include fees for services provided by the department related to the applicable lease agreement, which shall be detailed in the agreement.

Authorized by K.S.A. 2004 Supp. 75-5076; implementing K.S.A. 2004 Supp. 75-5074; effective, T-36-2-18-05, Feb. 18, 2005; effective July 22, 2005.