Leasing of purchasable or nonpurchasable equipment and personal property shall follow the solicitation, award, and contract signing procedures set forth in this chapter based upon the compensation amount for the contract. Each contract for the leasing of equipment and personal property shall contain a provision permitting the city to terminate the contract at the end of any fiscal year during the contract term of the contract upon not less than 30 days' written notice to the other party. Leases for equipment and personal property that use a vendor's forms shall conform to general requirements in LMC § 2.68.120 to the maximum extent possible.
(Ord. 2159 § 3 (Exh. A), 2024)