§ 39:1616 — Installment-purchase contract

§1616. Installment-purchase contract
The central purchasing agency may, on behalf of any governmental body, enter into
contracts for the installment purchase of supplies or equipment, including but not limited to
data processing equipment and telecommunications equipment, procured under this Chapter
and any other applicable laws on the procurement of supplies or equipment, in accordance
with the following provisions:
(1) All installment-purchase contracts shall be entered into utilizing the requisite
procedures applicable to the particular supply or equipment being procured.
(2) The term of such contract shall not exceed the economic life to the item or items
being procured, which shall be established by the central purchasing agency and shall be set
forth in the invitation to bid or request for proposal, but in no case shall the term of the
contract exceed five years.
(3) Each contract shall contain an annual appropriation dependency clause which
shall provide that the continuation of the contract is contingent upon the continuation of an
appropriation of funds by the legislature to fulfill the requirements of the contract. If the
legislature fails to appropriate sufficient monies to provide for the continuation of the
contract or if a veto or reduction of appropriation of funds necessitates the discontinuance
of the contract, the contract shall terminate on the last day of the fiscal year for which funds
were appropriated, in accordance with R.S. 39:1615(C).
(4) Such contracts shall also conform to any other requirements which may be
established by the central purchasing agency through rules and regulations, promulgated in
accordance with law.
{{NOTE: SEE ACTS 1985, NO. 955, §3, EFF. JULY 23, 1985.}}

Legislative History

Acts 1985, No. 995, §2, eff. July 23, 1985; Acts 2014, No. 864, §2, eff. Jan. 1, 2015.