Ill. Admin. Code tit. 44 § 5010.1240

Current through Register Vol. 48, No. 49, December 6, 2024

Section 5010.1240 - Terms of Contract

a) EDP equipment shall not be sold or traded in for less than its depreciated value. Depreciated value is based on the current fair market value associated with each item of an EDP equipment nature.

b) No sale and lease-back arrangements may be contracted for unless the Administrator finds such a contract to be of clear financial advantage to the State.

c) All contracts are subject to the approval of the Administrator. Approval shall be granted if criteria set by this Section are met.

Ill. Admin. Code tit. 44, § 5010.1240

Amended at 12 Ill. Reg. 10671, effective June 14, 1988

Amended at 43 Ill. Reg. 5637, effective 5/3/2019