Louisiana Administrative Code
Title 34 - GOVERNMENT CONTRACTS, PROCUREMENT AND PROPERTY CONTROL
Part V - Procurement
Chapter 20 - Leases of Movables
Section V-2005 - Lease with Purchase Option [Formerly LAC 34:I.2005]
Universal Citation: LA Admin Code V-2005
Current through Register Vol. 50, No. 3, March 20, 2024
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.
AUTHORITY NOTE: Promulgated in accordance with R.S. 39:1581.
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