PART K
Sec. K-1. Department of Administrative and Financial Services; lease-purchase authorization. Pursuant to the Maine Revised Statutes, Title 5, section 1587, the Department of Administrative and Financial Services, Office of Information Technology may enter into financing arrangements on or after January 1, 2008 for the acquisition of hardware, software and systems to support the development of new applications and for the enhancement and modification of current application systems. The financial agreements may not exceed 5 years in duration and $1,900,000 in principal costs. The interest rate may not exceed 7% and interest costs may not exceed $390,000.
Pursuant to the Maine Revised Statutes, Title 5, section 1587, the Department of Administrative and Financial Services, Office of Information Technology may enter into financing arrangements on or after January 1, 2009 for the acquisition of hardware, software and systems to support the development of new applications and for the enhancement and modification of current application systems. The financial agreements may not exceed 5 years in duration and $1,950,000 in principal costs. The interest rate may not exceed 7% and interest costs may not exceed $400,000.
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Office of the Revisor of Statutes