12 Miss. Code. R. 6-2.103.03
Commodities that are not covered by any state contract may be rented or leased on the open market provided the agency follows the requirements set forth in Section 31-7-13, Mississippi Code of 1972, Annotated. Rental of items that are not covered by any state contract in excess of $50,000 must be approved by the OPTFM prior to issuance of a purchase order. The Office of Purchasing, Travel and Fleet Management will supervise the rental of all commodities by state agencies and shall, upon receipt of the Request for Authority to Purchase, P-1, ascertain that all aspects of the rental are in compliance with state statutes. The OPTFM will also have the authority to reject requests which are determined not to be in the best interest of the State. The OPTFM shall have the authority to grant exemption from the requirement for P-1 approval if it is determined to be in the best interest of the agency and would be an economically feasible transaction. Proper procedures for submitting a Request for Authority to Purchase, P-1, are covered in Subsection 3.124.01, Request for Authority to Purchase, P-1. Agencies should also refer to Section 3.117, Lease Contracts, for further discussion of lease contracts.
To determine if advertising is required, the agency should multiply the rental payment by the number of payments to determine a total cost for the term of the rental. For example: A 36-month contract at $1400/month would be $1400 x 36 = $50,400 and would require advertising. A 3-year contract at $800/quarter would be $800 x 12 = $9,600 and would require at least two written quotes. No agency personnel shall enter into any lease-purchase contract except as is provided for in Sections 31-7-10 and/or 31-7-13(e), Mississippi Code of 1972, Annotated.
It shall be unlawful for any agency to enter into any single lease-purchase transaction for any items having an acquisition cost of less than $10,000.
The OPTFM shall have the right to disapprove any lease-purchase agreement regardless of authority if it is determined to create excessive cost and not be in the best interest of the State.
12 Miss. Code. R. 6-2.103.03