Utah Admin. Code R33-12-403 - Leases of Personal Property
(1)
Leases of personal property are subject to the following:
(a) Leases shall be conducted in accordance
with Division of Finance rules and Section
63G-6a-1209.
(b) A lease may be entered into provided the
procurement unit complies with Section
63G-6a-1209 and:
(i) it is in the best interest of the
procurement unit;
(ii) all
conditions for renewal and costs of termination are set forth in the lease;
and
(iii) the lease is not used to
avoid a competitive procurement.
(c) Lease contracts shall be conducted with
as much competition as practicable.
(d) 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 procurement unit shall:
(i) investigate alternative means of
procuring comparable procurement items; and
(ii) 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.
Notes
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