As used in this part 7, unless the context otherwise requires:
"Additional lease-purchase agreement" means any transaction entered into on or afterJuly 1, 1987, in which the state, acting by and through the department of personnel as provided by this part 7, is the lessee of real or personal property which shall be used by the state and in which the state has an option to purchase such real or personal property.
"Director" means the executive director of the department of personnel.
"Existing lease-purchase agreement" means any lease-purchase agreement enteredinto prior to July 1, 1987, in which the state is the lessee of real or personal property which shall be used by the state and in which the state has an option to purchase such real or personal property.
(3.5) "Lease purchase" means a capital lease as defined in the generally accepted accounting principles issued by the governmental accounting standards board that the controller prescribes for the state as specified in section 24-30-202 (12).
"Master lease program" means the refinancing, revising, replacement, or consolidation of any existing or additional lease-purchase agreement or agreements.
"State" means the state of Colorado or any department, agency, or commission thereof, including any state institution of higher education and the board of directors of the Auraria higher education center, but does not include the legislative department when acting pursuant to section 2-2-320 (2)(b), C.R.S.
Source: L. 87: Entire part added, p. 1116, § 1, effective June 20. L. 95: (1) and (2) amended, p. 660, § 87, effective July 1. L. 2009: (3.5) added, (HB 09-1218), ch. 132, p. 571, § 4, effective July 1. L. 2010: (5) amended, (HB 10-1020), ch. 111, p. 370, § 2, effective April 15.
Cross references: For the legislative declaration contained in the 1995 act amending subsections (1) and (2), see section 112 of chapter 167, Session Laws of Colorado 1995.