1. (a) Life cycle cost. Life cycle or total ownership costs may include but are not limited to, costs of operation, maintenance, repair, disposal, and/or acquisition.

2. (b) Application.

   1. (1) Life cycle cost formulas may be used for procurements.
   2. (2) Certain specified commodities must be procured using life cycle cost formulas provided by the Office of State Procurement.
   3. (3) For those specified commodities, the State Procurement Director shall provide formulas to be used in the evaluation of bids by the director, the agency procurement officials, or the procurement agents.

Codification Notes: This section was promulgated as R12:19-11-229 and R3:19-11-234 of the Procurement Rules prior to codification into the Code of Arkansas Rules.