Ark. Code Ann. § 22-2-115
This is the official text of Ark. Code Ann. § 22-2-115, part of Arkansas’s Code Ann — part of the compiled statutory law of Arkansas, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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Lease-purchase agreements
Official statutory text
(a) For the express purpose of providing adequate office facilities, the Secretary of the Department of Transformation and Shared Services, acting as the primary lessor, may enter into lease-purchase agreements to obtain facilities for state agencies. Each lease-purchase agreement shall contain a provision whereby the agreement shall be cancelled at the close of each fiscal biennium, if necessary, if funds for the payment of the rent under the lease-purchase agreement will not be available. (b) (1) The secretary shall make the final determination regarding the location or construction of facilities with the advice and consent of the appropriate state agency. (2) All agreements and other matters concerning the buying, trading, selling, renting, renovating, or acquiring of any real or personal property as authorized by this section shall be matters of public record and available for public inspection. (c) The General Accounting and Budgetary Procedures Law, § 19-4-101 et seq., the Arkansas Procurement Law, § 19-11-201 et seq., the Revenue Stabilization Law, § 19-5-101 et seq., and other applicable fiscal laws of this state shall be strictly complied with regarding this section. Amended by Act 2019, No. 910,§ 6177, eff. 7/1/2019. Amended by Act 2019, No. 910,§ 6176, eff. 7/1/2019. Amended by Act 2016EX3, No. 3,§ 59, eff. 5/23/2016. Amended by Act 2016EX3, No. 2,§ 59, eff. 5/23/2016. Amended by Act 2015EX1, No. 8,§ 33, eff. 7/1/2015. Amended by Act 2015EX1, No. 7,§ 33, eff. 7/1/2015. Acts 1979, No. 129, §§ 1-3; A.S.A. 1947, §§ 5-1025.1 -- 5-1025.3.
(a) For the express purpose of providing adequate office facilities, the Secretary of the Department of Transformation and Shared Services, acting as the primary lessor, may enter into lease-purchase agreements to obtain facilities for state agencies. Each lease-purchase agreement shall contain a provision whereby the agreement shall be cancelled at the close of each fiscal biennium, if necessary, if funds for the payment of the rent under the lease-purchase agreement will not be available.
(b) (1) The secretary shall make the final determination regarding the location or construction of facilities with the advice and consent of the appropriate state agency. (2) All agreements and other matters concerning the buying, trading, selling, renting, renovating, or acquiring of any real or personal property as authorized by this section shall be matters of public record and available for public inspection.
(1) The secretary shall make the final determination regarding the location or construction of facilities with the advice and consent of the appropriate state agency.
(2) All agreements and other matters concerning the buying, trading, selling, renting, renovating, or acquiring of any real or personal property as authorized by this section shall be matters of public record and available for public inspection.
(c) The General Accounting and Budgetary Procedures Law, § 19-4-101 et seq., the Arkansas Procurement Law, § 19-11-201 et seq., the Revenue Stabilization Law, § 19-5-101 et seq., and other applicable fiscal laws of this state shall be strictly complied with regarding this section.
Amended by Act 2019, No. 910,§ 6177, eff. 7/1/2019.
Amended by Act 2019, No. 910,§ 6176, eff. 7/1/2019.
Amended by Act 2016EX3, No. 3,§ 59, eff. 5/23/2016.
Amended by Act 2016EX3, No. 2,§ 59, eff. 5/23/2016.
Amended by Act 2015EX1, No. 8,§ 33, eff. 7/1/2015.
Amended by Act 2015EX1, No. 7,§ 33, eff. 7/1/2015.
Acts 1979, No. 129, §§ 1-3; A.S.A. 1947, §§ 5-1025.1 -- 5-1025.3.
(a) For the express purpose of providing adequate office facilities, the Secretary of the Department of Transformation and Shared Services, acting as the primary lessor, may enter into lease-purchase agreements to obtain facilities for state agencies. Each lease-purchase agreement shall contain a provision whereby the agreement shall be cancelled at the close of each fiscal biennium, if necessary, if funds for the payment of the rent under the lease-purchase agreement will not be available.
(b) (1) The secretary shall make the final determination regarding the location or construction of facilities with the advice and consent of the appropriate state agency. (2) All agreements and other matters concerning the buying, trading, selling, renting, renovating, or acquiring of any real or personal property as authorized by this section shall be matters of public record and available for public inspection.
(1) The secretary shall make the final determination regarding the location or construction of facilities with the advice and consent of the appropriate state agency.
(2) All agreements and other matters concerning the buying, trading, selling, renting, renovating, or acquiring of any real or personal property as authorized by this section shall be matters of public record and available for public inspection.
(c) The General Accounting and Budgetary Procedures Law, § 19-4-101 et seq., the Arkansas Procurement Law, § 19-11-201 et seq., the Revenue Stabilization Law, § 19-5-101 et seq., and other applicable fiscal laws of this state shall be strictly complied with regarding this section.
Amended by Act 2019, No. 910,§ 6177, eff. 7/1/2019.
Amended by Act 2019, No. 910,§ 6176, eff. 7/1/2019.
Amended by Act 2016EX3, No. 3,§ 59, eff. 5/23/2016.
Amended by Act 2016EX3, No. 2,§ 59, eff. 5/23/2016.
Amended by Act 2015EX1, No. 8,§ 33, eff. 7/1/2015.
Amended by Act 2015EX1, No. 7,§ 33, eff. 7/1/2015.
Acts 1979, No. 129, §§ 1-3; A.S.A. 1947, §§ 5-1025.1 -- 5-1025.3.
Status: in_force
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