11-651. Lease-purchase agreements; terms and
conditions
The board of supervisors of a county may enter into agreements for the
lease-purchase of equipment for a period in excess of one year under the following terms
and conditions:
1. The lease-purchase agreement shall be executed for the period of one fiscal year
only and, if a longer period is needed to complete purchase of the equipment, the board
of supervisors shall have the right, at the end of each fiscal year, to enter into an
agreement for continuation of the agreement for succeeding one-year periods until
complete payment has been made.
2. If, at the end of the first one-year period and prior to payment of the total
purchase price, the board of supervisors does not agree to a continuation of the
lease-purchase agreement, the seller may repossess the equipment and the agreement shall
be deemed terminated.
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