Lease-purchase — reporting.

; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; courier new tur ; arial (vietnamese) ; courier new (arabic) ; times new roman ce ; tahoma (vietnamese) ; arial (hebrew) ; times new roman cyr ; courier new greek ; symbol ; tahoma (hebrew) ; arial ; arial baltic ; arial tur ; times new roman (arabic) ; courier new ; imperial bt ; tahoma ce ; wingdings ; tahoma cyr ; times new roman tur ; courier new ce ; tahoma ; courier new (hebrew) ; arial (arabic) ; courier new baltic ; courier new cyr ; times new roman ; tahoma baltic ; tahoma (arabic) ; arial ce ; courier new (vietnamese) ; tahoma (thai) ; times new roman greek ; tahoma greek ; tahoma tur ; times new roman (hebrew) ; times new roman baltic ; times new roman (vietnamese) ; arial greek ; arial cyr ; \* .;
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 ?; ; ; Normal ; heading 1 ; heading 2 ; heading 3 ; heading 4 ; heading 5 ; heading 6 ; heading 7 ; heading 8 ; heading 9 ; Balloon Text ; Block Text ; Body Text ; Body Text 2 ; Body Text 3 ; Body Text First Indent ; Body Text First Indent 2 ; Body Text Indent 2 ; Body Text Indent 3 ; caption ; Closing ; annotation text ; annotation subject ; Date ; Document Map ; E-mail Signature ; endnote text ; envelope address ; envelope return ; footer ; footnote text ; header ; HTML Address ; HTML Preformatted ; index 1 ; index 2 ; index 3 ; index 4 ; index 5 ; index 6 ; index 7 ; index 8 ; index 9 ; index heading ; List ; List 2 ; List 3 ; List 4 ; List 5 ; List Bullet ; List Bullet 2 ; List Bullet 3 ; List Bullet 4 ; List Bullet 5 ; List Continue ; List Continue 2 ; List Continue 3 ; List Continue 4 ; List Continue 5 ; List Number ; List Number 2 ; List Number 3 ; List Number 4 ; List Number 5 ; macro ; Message Header ; Normal (Web) ; Normal Indent ; Note Heading ; Plain Text ; Salutation ; Signature ; Subtitle ; table of authorities ; table of figures ; Title ; toa heading ; toc 1 ; toc 2 ; toc 3 ; toc 4 ; toc 5 ; toc 6 ; toc 7 ; toc 8 ; toc 9 ; \~\~ \~\~ \~\~ \~\~ \~\~ 8.46 \~\~ Lease-purchase — reporting. \~\~ 1. \~\~ For the purposes of this section , unless the context otherwise requires: \~\~ a. \~\~ “Installment acquisition” includes, but is not limited to, an arrangement in which title of ownership passes when the first installment payment is made. \~\~ b. \~\~ “Lease-purchase arrangement” includes, but is not limited to, an arrangement in which title of ownership passes when the final installment payment is made. \~\~ c. \~\~ “State agency” means any executive, judicial, or legislative department, commission, board, institution, division, bureau, office, agency, or other entity of state government. \~\~ 2. \~\~ At least thirty days prior to entering into a contract involving a lease-purchase or installment acquisition arrangement in which any part or the total amount of the contract is at least fifty thousand dollars, a state agency shall notify the legislative services agency concerning the contract. The legislative services agency shall compile the notifications for submission to the legislative fiscal committee of the legislative council. The notification is required regardless of the source of payment for the lease-purchase or installment acquisition arrangement. The notification shall include all of the following information: \~\~ a. \~\~ A description of the object of the lease-purchase or installment acquisition arrangement. \~\~ b. \~\~ The proposed terms of the contract. \~\~ c. \~\~ The cost of the contract, including principal and interest costs. If the actual cost of a contract is not known at least thirty days prior to entering into the contract, the state agency shall estimate the principal and interest costs for the contract. \~\~ d. \~\~ An identification of the means and source of payment of the contract. \~\~ e. \~\~ An analysis of consequences of delaying or abandoning the commencement of the contract. \~\~ 3. \~\~ The legislative fiscal committee shall report to the legislative council concerning the notifications it receives pursuant to this section . \~\~ 4. \~\~ A contract for construction by a private party of property to be lease-purchased by a state agency is a contract for a public improvement as defined in section 26.2 and is a lease-purchase arrangement for purposes of this section . If the estimated cost of the property to be lease-purchased that is renovated, repaired, or involves new construction exceeds the competitive bid threshold in section 26.3 , the state agency shall comply with the competitive bidding requirements of section 26.3 . 91 Acts, ch 268, §606 ; 95 Acts, ch 214, §2 ; 2003 Acts, ch 35, §45, 49 ; 2018 Acts, ch 1075, §1, 12, 13 ; 2018 Acts, ch 1172, §71, 72 ; 2019 Acts, ch 59, §5 Referred to in §12.28