01 NCAC 06B .0206          LEASE NOT EXCEEDING $5,000: TERM NOT EXCEEDING THREE YEARS

Leases where the annual rental does not exceed five thousand dollars ($5,000) or the term does not exceed three years may be negotiated and signed as provided by Council of State resolutions.  A copy of the executed lease must be forwarded to the Division of State Property.  Departments not empowered to act by these resolutions must follow the procedures outlined in Regulations .0205 and .0207 of this Section for all leases involving annual rental not in excess of twelve thousand dollars ($12,000).

 

History Note:        Authority G.S. 143‑341(4)d.,h.;

Eff. February 1, 1976;

Readopted Eff. February 27, 1979;

Amended Eff. June 1, 1987.