TITLE 44: GOVERNMENT CONTRACTS, GRANTMAKING, PROCUREMENT
AND PROPERTY MANAGEMENT
SUBTITLE A: PROCUREMENT AND CONTRACT PROVISIONS
CHAPTER II: CHIEF PROCUREMENT OFFICER FOR PUBLIC INSTITUTIONS OF HIGHER EDUCATION
PART 4 CHIEF PROCUREMENT OFFICER FOR PUBLIC INSTITUTIONS OF HIGHER EDUCATION STANDARD PROCUREMENT
SECTION 4.4030 PURCHASE OPTION
SUBTITLE A: PROCUREMENT AND CONTRACT PROVISIONS
CHAPTER II: CHIEF PROCUREMENT OFFICER FOR PUBLIC INSTITUTIONS OF HIGHER EDUCATION
PART 4 CHIEF PROCUREMENT OFFICER FOR PUBLIC INSTITUTIONS OF HIGHER EDUCATION STANDARD PROCUREMENT
SECTION 4.4030 PURCHASE OPTION
Section 4.4030 Purchase Option
Leases of all space in entire, free-standing buildings shall include an option to purchase exercisable by the university, unless the CPO-HE or SPO determines in writing that inclusion of that purchase option is not in the State's best interest. The determination, including the reasons for making that determination, shall be published in the Bulletin. Leases with governmental units and not-for-profit entities are exempt from the requirements of this Section.
(Source: Amended at 43 Ill. Reg. 1781, effective February 15, 2019)