§ 2.2-2417. Approval of financial terms of certain contracts; using agenciesto procure certain financial services through Treasury Board.
A. The Board, or its designee, shall review and approve the financial termsof all contracts for the purchase or financing of the purchase by agencies,institutions, boards and authorities which receive appropriations from theCommonwealth, i.e., the using agencies, of personal property, includingpersonal property to be affixed to realty, whether by lease-purchase,installment purchase or otherwise, where payment of the purchase price isdeferred through installment payments, includes the payment of interest, oris otherwise financed by the seller, lessor, or third parties.
B. The Board may specifically exempt from its review and approval specificpurchases, and purchases below a stated amount, and may adopt regulationsgoverning the financial terms of contracts, as described in subsection A,including but not limited to the authority to negotiate with a seller orlessor the public or private sale of securities, the security interest whichmay be granted to a seller or lessor, and the types and value of propertywhich may be acquired under such contracts. Approval of the Board or itsdesignee and compliance with regulations adopted pursuant to this sectionshall be required in addition to and notwithstanding any other provision oflaw pertaining to the review, approval or award of contracts by agencies andinstitutions of the Commonwealth.
C. Notwithstanding any of the foregoing and except as the Board shall directand authorize otherwise, every using agency shall procure through the Boardall contracts for the financing of the purchases described in subsection A orother financial services needed for the purpose of financing such purchases.The Board may acquire such financing services, including, but is not limitedto employing financial advisors and private or public placement agents.
D. An agency, institution, board, or authority which receives appropriationsfrom the Commonwealth shall procure state agency energy efficiency projectsunder this section. State agency energy efficiency projects may includepersonal property, the installation or modification of an installation in abuilding, and professional, management, and other special services which areprimarily intended to reduce energy consumption and demand, or allow the useof an alternative energy source, and which may contain integral control andmeasurement devices.
(1986, c. 280, § 2.1-179.2; 1987, c. 613; 1991, c. 578; 1994, c. 231; 2001,c. 844.)
§ 2.2-2417. Approval of financial terms of certain contracts; using agenciesto procure certain financial services through Treasury Board.
A. The Board, or its designee, shall review and approve the financial termsof all contracts for the purchase or financing of the purchase by agencies,institutions, boards and authorities which receive appropriations from theCommonwealth, i.e., the using agencies, of personal property, includingpersonal property to be affixed to realty, whether by lease-purchase,installment purchase or otherwise, where payment of the purchase price isdeferred through installment payments, includes the payment of interest, oris otherwise financed by the seller, lessor, or third parties.
B. The Board may specifically exempt from its review and approval specificpurchases, and purchases below a stated amount, and may adopt regulationsgoverning the financial terms of contracts, as described in subsection A,including but not limited to the authority to negotiate with a seller orlessor the public or private sale of securities, the security interest whichmay be granted to a seller or lessor, and the types and value of propertywhich may be acquired under such contracts. Approval of the Board or itsdesignee and compliance with regulations adopted pursuant to this sectionshall be required in addition to and notwithstanding any other provision oflaw pertaining to the review, approval or award of contracts by agencies andinstitutions of the Commonwealth.
C. Notwithstanding any of the foregoing and except as the Board shall directand authorize otherwise, every using agency shall procure through the Boardall contracts for the financing of the purchases described in subsection A orother financial services needed for the purpose of financing such purchases.The Board may acquire such financing services, including, but is not limitedto employing financial advisors and private or public placement agents.
D. An agency, institution, board, or authority which receives appropriationsfrom the Commonwealth shall procure state agency energy efficiency projectsunder this section. State agency energy efficiency projects may includepersonal property, the installation or modification of an installation in abuilding, and professional, management, and other special services which areprimarily intended to reduce energy consumption and demand, or allow the useof an alternative energy source, and which may contain integral control andmeasurement devices.
(1986, c. 280, § 2.1-179.2; 1987, c. 613; 1991, c. 578; 1994, c. 231; 2001,c. 844.)
§ 2.2-2417. Approval of financial terms of certain contracts; using agenciesto procure certain financial services through Treasury Board.
A. The Board, or its designee, shall review and approve the financial termsof all contracts for the purchase or financing of the purchase by agencies,institutions, boards and authorities which receive appropriations from theCommonwealth, i.e., the using agencies, of personal property, includingpersonal property to be affixed to realty, whether by lease-purchase,installment purchase or otherwise, where payment of the purchase price isdeferred through installment payments, includes the payment of interest, oris otherwise financed by the seller, lessor, or third parties.
B. The Board may specifically exempt from its review and approval specificpurchases, and purchases below a stated amount, and may adopt regulationsgoverning the financial terms of contracts, as described in subsection A,including but not limited to the authority to negotiate with a seller orlessor the public or private sale of securities, the security interest whichmay be granted to a seller or lessor, and the types and value of propertywhich may be acquired under such contracts. Approval of the Board or itsdesignee and compliance with regulations adopted pursuant to this sectionshall be required in addition to and notwithstanding any other provision oflaw pertaining to the review, approval or award of contracts by agencies andinstitutions of the Commonwealth.
C. Notwithstanding any of the foregoing and except as the Board shall directand authorize otherwise, every using agency shall procure through the Boardall contracts for the financing of the purchases described in subsection A orother financial services needed for the purpose of financing such purchases.The Board may acquire such financing services, including, but is not limitedto employing financial advisors and private or public placement agents.
D. An agency, institution, board, or authority which receives appropriationsfrom the Commonwealth shall procure state agency energy efficiency projectsunder this section. State agency energy efficiency projects may includepersonal property, the installation or modification of an installation in abuilding, and professional, management, and other special services which areprimarily intended to reduce energy consumption and demand, or allow the useof an alternative energy source, and which may contain integral control andmeasurement devices.
(1986, c. 280, § 2.1-179.2; 1987, c. 613; 1991, c. 578; 1994, c. 231; 2001,c. 844.)
