TITLE 44: GOVERNMENT CONTRACTS, GRANTMAKING, PROCUREMENT AND PROPERTY MANAGEMENT
SUBTITLE D: PROPERTY MANAGEMENT
CHAPTER I: DEPARTMENT OF CENTRAL MANAGEMENT SERVICES
PART 5010 MARKING, INVENTORY, TRANSFER AND DISPOSAL OF STATE-OWNED PERSONAL PROPERTY
SECTION 5010.1240 TERMS OF CONTRACT


 

Section 5010.1240  Terms of Contract

 

a)         EDP equipment shall not be sold or traded in for less than its depreciated value.  Depreciated value is based on the current fair market value associated with each item of an EDP equipment nature.

 

b)         No sale and lease-back arrangements may be contracted for unless the Director of CMS finds such a contract to be to the clear financial advantage of the State.

 

c)         All contracts are subject to the approval of the Director of CMS. Approval shall be granted if criteria set by the section are met.

 

(Source:  Amended at 12 Ill. Reg. 10671, effective June 14, 1988)