3420 INSTALLMENT PURCHASES
(New 12/06)
For the purpose of financing purchases, California government entities are permitted to use the Department of General Services' (DGS) Golden State Financial ($) Marketplace (GS $MartŠ, pronounced "G S Smart") to enter into installment purchase agreements (commonly referred to in the industry as "lease purchases"). Loans are structured to comply with Internal Revenue Service regulations. Approved lenders, financing plans, and tax-exempt rates (which are usually less costly than commercial lending rates) are listed on the GS $MartŠ Internet site.
GS $MartŠ: www.pd.dgs.ca.gov/gsmart/default.htm
Certain budgetary conditions defined by the Department of Finance (DOF) apply to the use of the GS $MartŠ program. Advanced DOF approval may be required. Contact a financial marketplace representative prior to initiating a purchase that involves financing or prior to initiating an assignment of an installment purchase that was financed using the GS $MartŠ program.
