Idaho State Statutes - Idaho Attorney Directory

No
provision of chapter 6, title 33, or chapter 28, title 67, Idaho Code, shall
be construed to prevent a board of trustees from entering into lease-purchase
agreements for goods, equipment, buses or portable classrooms, provided the
agreement is in writing and meets all of the following requirements:
(1) The annual lease payments shall reflect reasonable compensation for
use;
(2) No penalty shall be imposed on the school district for proper
cancellation of the lease;
(3) The right to exercise the option to purchase shall be at the sole
discretion of the school district; and
(4) The cost of purchase shall not exceed the reasonable value of the
goods, equipment, buses or portable classrooms as of the time the option to
purchase is exercised.
For the purposes of this section, "portable classroom" means a facility
which is not so related to particular real estate that an interest in it
arises under real estate law.

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