Technology Leases Over $100,000 Checklist

Technology Leases Over $100,000 Checklist

Technology Leases Over $100,000 Checklist

District Name:

District Point of Contact for Lease Questions:

Name: Phone: Email:

Date Received: ______Date lease option expires:

Term of Lease:Number of optional renewal periods: ______

Total Amount of Lease: Cost of Financing - Interest Rate: Interest Amount:

Source of Funding: (ED/TECH money cannot be used for interest)

( ) General Fund – local funds ( ) other:

Has the district’s current FY Technology Plan been submitted & approved by KDE?Yes___ or No___

Is the attached proposed lease a part of the district’s current FY Technology Plan?Yes___ or No___

Items to be included in the Technology Lease package submit to KDE:

1. Cover letter requesting KDE lease approval from District Superintendent

2. District Finance Officer letter confirming the district funding source(s) and available funds

3. Proposed Lease

Should also include the listing of equipment/services included & price for each item

4. Procurement Source

( ) KETS Contract (List Contract Number)

( ) State Master Agreement (Kentucky) (List Master Agreement Number)

( ) Other Existing Contract (Include Contract Number, contract Source and a copy of the contract)

( )District Bid (Include a copy of the bid and awarded contract)

5.District CIO/DTC warranty coverage/support plan letter

( ) Warranty coverage meets/exceeds the term of the lease

( ) District CIO/DTC letter outlining the support plan if the warranty coverage does not meet/exceed term of the lease

6. District Attorney approval letter

What Legal looks for in a Technology Leases

  • Laws of KY govern the lease and any lawsuits arising out of the lease are filed in KY:
  • “The laws of the Commonwealth of Kentucky shall govern all questions as to the execution, validity, interpretation, construction, and performance of this agreement or any of its terms. Any suit, action or other proceeding regarding the execution, validity, interpretation, construction, or performance of this agreement shall be filed in the Franklin Circuit Court of the Commonwealth of Kentucky.”
  • Either no indemnity clause, or an indemnity clause stating the contract will be enforced “as allowed by Kentucky law.” An acceptable indemnity clause would state:
  • “As allowed by Kentucky law, ‘District X’ agrees to indemnify…”
  • Cancellation/Non-appropriation
  • Cancellation:
  • “Either party may cancel the agreement at any time for cause or may cancel without cause on 30 days' written notice.”
  • Non-appropriation:
  • “In the event sufficient funds are not appropriated and budgeted by your governing body or are not otherwise available in any fiscal period for Lease Payments (or any other amount due hereunder) under a Schedule, and provided that you have exhausted all funds legally available for payment of the Lease Payments, then you shall immediately notify us of such occurrence and provide us with evidence of such non-appropriation acceptable to us (e.g., written certification by your legal counsel) and the Schedule shall terminate on the last day of the fiscal period for which funds for Lease Payments are available without penalty or expense to you of any kind.

Please email all technology lease documents to Melissa Moore at ,gov.

Kentucky Department of Education

Office of Education Technology

Division of School Technology Planning & Project Management

Revised 07/06/17

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