Section 2000.4035 Purchase Options
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Illinois Administrative Code › Title 44 GOVERNMENT CONTRACTS, GRANTMAKING, PROCUREMENT AND PROPERTY MANAGEMENT › CHAPTER XXV: SECRETARY OF STATE › Part 2000 SECRETARY OF STATE STANDARD PROCUREMENT › Section 2000.4035 Purchase Options
Text
Section 2000
Section 2000.4035 Purchase
Options
a) All leases of free standing facilities shall contain an option
to purchase exercisable by the State.
b) Purchase options may be omitted if:
1) The lease is with a governmental entity or a not-for-profit
entity.
2) The CPO determines that the purchase option is not in the
State's best interest and publishes his/her written determination in the
Bulletin.
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