105 Ind. Admin. Code 12-4-3

Current through January 8, 2025

Section 105 IAC 12-4-3 - Equipment rental or lease with option to purchase

Authority: IC 8-23-2-6

Affected: IC 5-22

Sec. 3.

A contract for rental or lease may contain an option to purchase under the following circumstances:

(1) Exercise of the option shall be at the sole discretion of the commissioner.

(2) The option must be part of the invitation for bid.

105 IAC 12-4-3

Indiana Department of Transportation; 105 IAC 12-4-3; filed Jan 15, 1993, 1:00 p.m.: 16 IR 1509; filed Oct 3, 2001, 9:35 a.m.: 25 IR 371; readopted filed Nov 7, 2001, 3:20 p.m.: 25 IR 899; readopted filed Jun 14, 2007, 2:45 p.m.: 20070627-IR-105070237RFA; readopted filed Oct 2, 2013, 11:39 a.m.: 20131030-IR-105130295RFA

Readopted filed 10/4/2019, 9:49 a.m.: 20191030-IR-105190422RFA