19 O.S. § 1505(B)

The county has the option to bid a lease or lease purchase locally. The following items should be considered when writing bid specifications:

• SA&I Form 120B Form must be used as the binding document. Any changes must be approved by the county’s district attorney.
• The vendor must provide financing, which is not to exceed 10% simple interest of outstanding
• An amortization schedule is required with the bid
• The board of county commissioners should not sign any financing documents such as a promissory note, lien, or other similar documents.
• No payment will be made until after delivery is
• Terms of the lease must include these options to renew if it exceeds one fiscal
• Number of options stated
• Renewals cannot exceed one fiscal
• Final option to cover remaining months
• The county has the exclusive right to exercise
• Renewal by the board of county commissioners in an open meeting or upon an approved policy by the county’s district attorney, issuance of a purchase order within 10 days of the end of the fiscal year (or option period)
• 47 O.S. § 1139.1
• Any vehicle leased or lease purchased by the county from a vendor is exempt from any fees required by the Oklahoma Vehicle License and Registration Act.
• The vehicle title remains for the lessor (vendor) until final payment is The final payment is included at the close of the lease.
• The county should incur no delivery
• The county is responsible for regular The county may enter into a separate maintenance agreement with the consent of the lessor.
• The county provides proof of insurance to the
• If sufficient funds are not appropriated during any option period, the county may terminate the lease and return the equipment to the vendor.
• Assignment of payments by the vendor must be approved by the board of county Lease purchases using county funds shall follow normal bidding procedures.

Refer to Chapter Four, “Purchasing Methods and Procedures.”