New Jersey Statutes 52:18A-191.5. Committee approval required for lease agreements
Terms Used In New Jersey Statutes 52:18A-191.5
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
a. the approved State agency space planning request;
b. a statement setting forth the terms and conditions of the lease agreement;
c. a statement setting forth the cost of the leased space, including the cost of rent, taxes, renovations and other costs involved in the lease agreement;
d. a statement from the Attorney General that the lease agreement is not in conflict with any applicable State or federal law or regulation;
e. a statement certifying that on the basis of a comparison of costs and an analysis of financing, the lease agreement is cost effective and in compliance with the space utilization master plan;
f. a statement certifying that the office advertised for bids for lease agreements and that the lease agreement under consideration is the most cost effective; and
g. a statement from the Director of the Division of Budget and Accounting in the Department of the Treasury certifying that funds have been appropriated to the Office of Leasing Operations to cover all costs associated with the lease, including the cost of renovations, for the fiscal year.
L.1992,c.130,s.5.