13-16-6.1. Bidders on installment purchases or lease-purchase agreement to state interest rate and installment schedule.
98 words·~1 min read·
/sd/title-13/chapter-13-16/13-16-6-1A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Notwithstanding the provisions of chapters 5-18A and 13-20 , if any proposed installment purchase contract or lease-purchase agreement authorized under chapter 13-16 , is to be entered into by a school district, the notice for bidders shall require the bidders to state the rate of interest and the installment payment or lease-purchase schedule that would have to be made by the school district in fulfillment of the contract. However, the requirement of this section does not apply to any installment purchase or lease-purchase to be entered into between a school district and the health and educational facilities authority.