12-2-115 - Approval of lease instrument where state is lessee or lessor. - Tennessee Statutes

12-2-115. Approval of lease instrument where state is lessee or lessor.

(a)  Notwithstanding any other law to the contrary, no lease of property to the state government or any agency, department, institution or office thereof shall be entered into unless the instrument of lease is first approved as to form and legality by the attorney general and reporter. This provision shall only apply to leases which are longer than five (5) years or if the consideration for any such lease amounts to more than seventy-five thousand dollars ($75,000) per year.

(b)  If any proposed lease of property by or to the state government or any agency, department, institution or office thereof is longer than five (5) years or if the consideration for any such lease amounts to more than seventy-five thousand dollars ($75,000) per year or such other amount as determined by the state building commission, it shall first be submitted to and approved by the state building commission.

(c)  No lease of property to the state government or any agency, department, institution or office thereof shall be valid unless the requirements of this section are met.

(d)  Notwithstanding the language in § 9-6-113 to the contrary, leases of property to the state government or any agency, department, institution or office thereof, the total cost of which is less than an amount determined pursuant to policy established by the commissioner of finance and administration and approved by the state building commission, need not be certified, as indicated in § 9-6-113, by the commissioner.

[Acts 1978, ch. 585, § 1; 1978, ch. 943, § 1; T.C.A., § 12-253; Acts 1984, ch. 754, § 2; 1985, ch. 291, § 2; 1989, ch. 454, §§ 1, 2; 1991, ch. 498, § 5; 1997, ch. 402, §§ 8-12.]