§ 260C.38 — Lease agreements for space

Iowa § 260C.38

• Jurisdiction: Iowa
• Title VII: EDUCATION, HISTORY, AND CULTURE
• Ch. 260C: COMMUNITY COLLEGES

Text

1. The board of directors may enter into lease agreements, with or without purchase
options, not to exceed twenty years in duration, for the leasing or rental of buildings for use
basically as classrooms, laboratories, shops, libraries, and study halls for community college
purposes, and pay for the leasing or rental with funds acquired pursuant to section 260C.17,
section 260C.18, and section 260C.22.
2. The agreements may include the leasing of existing buildings on public or private
property, buildings to be constructed upon real estate owned by the community college, or
buildings to be placed upon real estate owned by the community college.
3. Subject to subsection 4, before entering into a lease agreement with a purchase option
for a building to be constructed, or placed, upon real estate owned by the community
college, the board shall first adopt plans and specifications for the proposed building which
it considers suitable for the intended use, and the board shall also adopt the proposed terms
of the lease agreement and purchase option. The board shall invite bids, by advertisement
published once each week for two consecutive weeks in the county where the building is to
be located. The lease agreement shall be awarded to the lowest responsible bidder, or the
board may reject all bids and readvertise for new bids.
4. A contract for construction by a private party of property to be lease-purchased by a
community college is a contract for a public improvement as defined in section 26.2. If the
estimated cost of the property to be lease-purchased that is renovated, repaired, or involves
new construction exceeds the competitive bid threshold in section 26.3, the board shall
comply with the competitive bidding requirements of section 26.3.

Legislative History

[C71, 73, 75, 77, 79, 81, §280A.38; 82 Acts, ch 1230, §1]