Louisiana Revised Statutes 39:1764 – Equipment-lease-purchase contracts with nonprofit lessors authorized; term
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Terms Used In Louisiana Revised Statutes 39:1764
- Applicable purchasing agency: shall mean the Division of Administration of the state except as provided in La. See Louisiana Revised Statutes 39:1763
- State: means the state of Louisiana, and for purposes of execution of equipment-lease-purchase contracts, the Division of Administration of the state, which shall be considered the lessee for all applicable purchasing agencies for the purposes of this Chapter. See Louisiana Revised Statutes 39:1763
The state through the Division of Administration may enter into equipment-lease-purchase contracts directly with nonprofit lessors, as provided in this Chapter, for a term not to exceed ten years or the reasonably expected economic life of the equipment, whichever is less, as determined by the applicable purchasing agency, notwithstanding any provisions of La. Rev. Stat. 9:2347(J), La. Rev. Stat. 39:197, La. Rev. Stat. 39:198, La. Rev. Stat. 39:1615, La. Rev. Stat. 39:1753 or any other law to the contrary.
Acts 1985, No. 758, §2, eff. July 17, 1985.
{{NOTE: SEE ACTS 1985, NO. 758, §§3, 5 AND 6.}}