Illinois Administrative Code
Title 74 - PUBLIC FINANCE
Part 290 - CONTRACT CONTENT
Section 290.1206 - Leases for Personal Property (See Note at end of this Section)
Universal Citation: 74 IL Admin Code ยง 290.1206
Current through Register Vol. 48, No. 12, March 22, 2024
a) Definition. Included are agreements for the rental of personal property.
b) In addition to complying with the requirements of Section 290.1203, leases for personal property must contain:
1)
Lessor's name and address.
2)
Leasing Agency's name.
3) Beginning
and ending dates of agreement.
4)
Description of personal property (where applicable, serial numbers should be
included).
5) Monthly and annual
payment amounts, where applicable.
6) Where the agreement is for more than one
fiscal year, a subject to appropriation clause.
7) Signature of lessor and authorized agency
representative.
8) Maximum or
estimated amount to be paid, where applicable. (See Section
290.1203(e)
).
9) Execution date. (See Section
290.1203(c)
).
10) Bribery clause certification. (See
Section
290.1203(b)
).
11) For multi-year agreements, the Governor's
approval, where required by Section 35.7 b, of the Civil Administrative Code of
Illinois (Ill. Rev. Stat. 1987, ch. 127, par. 35.7b).
12) The maximum or estimated annual amount,
where subject to calculation.
13)
Federal Taxpayer Identification Number and legal status disclosure
certification (See Section 290 Appendix B (16)).
14) Bid-rigging/bid rotating certification,
where applicable (See Section
290.1203(k)
).
15) Educational loan certification (See
Section
290.1203(l)
).
16) Such other provisions as may be
specifically required by law.
17)
Any other information deemed necessary or advisable by the agency or the
Attorney General.
AGENCY NOTE: These requirements also apply to multi-year lease, lease-purchase and installment purchase agreements for electronic data processing, telecommunications and duplicating equipment which are authorized by Section 5.1 of the Illinois Purchasing Act.
Disclaimer: These regulations may not be the most recent version. Illinois may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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