Utah Administrative Code
Topic - Administrative Services
Title R23 - Facilities Construction and Management
Rule R23-1 - Procurement Rules with Numbering Related to the Procurement Code
Section R23-1-1203 - Leases of Personal Property
Universal Citation: UT Admin Code R 23-1-1203
Current through Bulletin 2024-06, March 15, 2024
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.
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