The value of all:(1) purchases of supplies, fixtures, and equipment;(2) purchases of real property; and(3) lease agreements and contracts;shall be appraised by the Indiana department of administration or by an independent appraiser, at the discretion of the Indiana department of administration. The cost of a purchase, lease agreement, or contract may not exceed the appraised value.[Pre-2016 Revision Citation: 9-16-2-3.]As added by P.L.198-2016, SEC.195.
Indiana Legal Code