§5-6-4a. Review of real property contracts and agreements; master plan for office space


Published: 2015

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WEST VIRGINIA CODE











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WVC 5 - 6 - 4 A

§5-6-4a. Review of real property contracts and agreements; master

plan for office space.

(a) The Secretary of Administration shall provide to the Joint

Committee on Government and Finance a copy of a contract or

agreement for real property exceeding $1 million and a report

setting forth a detailed summary of the terms of the contract or

agreement, including the name of the owner of the property and the

agent involved in the sale, at least thirty days prior to any sale,

exchange, transfer, purchase, lease purchase, lease or rental of

real property, any refundings of lease purchases, leases or rental

agreements, any construction of new buildings and any other

acquisition or lease of buildings, office space or grounds by any

state agency, but excepting the transactions of the Higher

Education Policy Commission, Council for Community and Technical

College Education, state institutions of higher education and the

Division of Highways for state road purposes pursuant to article

two-a, chapter seventeen of this code: Provided, That a contract

or agreement for the lease purchase, lease or rental of real

property by any state agency, where the costs of real property

acquisition and improvements are to be financed, in whole or in

part, with bond proceeds, may contain a preliminary schedule of

rents and leases for purposes of review by the committee.

(b) For renewals of contracts or agreements required to be

reported by this section, the Secretary of Administration shall

provide a report setting forth a detailed summary of the terms of the contract or agreement, including the name of the owner of the

property.

(c) Within thirty days after receipt of the contract,

agreement or report, the committee shall meet and review the

contract, agreement or report.





Note: WV Code updated with legislation passed through the 2015 Regular Session

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