Policy No.: 6080 Board Approved: September 20, 2022 Reviewed or Revised:
College Leasing of Real Property and Chattel
Purpose The purpose of this policy is to set forth the persons with the legal authority to enter into lease agreements that bind the College. Real Property The President shall have the sole authority to enter into any lease agreement involving real estate, as lessee or lessor, for the benefit of the College. Chattel and Other Property The act of leasing chattel, movable equipment, software, or cloud based leasing agreements is also the authority of the President but may be delegated to the Vice President of Administration and Finance and further down to the Department Director level. However, such lease agreements must comply with the HCC Purchasing Manual, as well as Sec. 16-311 of the Education Article of the Annotated Code of Maryland, and any other applicable local, state, and federal laws or regulations with regards to fiscal thresholds on lease amount and duration. Employees will use an HCC purchase order and follow all HCC guidelines for any lease involving chattel, software, or cloud-based information technology systems.
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