According to the Office of State Procurement, there are no existing State Contracts for the lease of vehicles that include an option to purchase the vehicles. Only true lease contracts and procurement contracts that may provide for financing agreements.
A lease that authorizes the transfer of ownership or allows for an option to purchase must be let in accordance with the provisions of the Public Bid Law, as the Attorney General has noted that such an agreement is not a true lease but rather an installment purchase agreement.
Louisiana Legislative Auditor website: 05/14/2025 12:54:52 AM
|