(4) A procurement unit may lease a procurement item if:

1. (a) the procurement officer determines that it is in the best interest of the procurement unit to lease the procurement item, after the procurement officer:

   1. (i) investigates alternative means of obtaining the procurement item; and
   2. (ii) considers the costs and benefits of the alternative means of obtaining the procurement item;
2. (b) all conditions for renewal and cost are included in the lease;
3. (c) the lease is awarded through a standard procurement process, or an exception to a standard procurement process described in Part 8, Exceptions to Procurement Requirements;

4. (d) for a standard procurement process, the invitation for bids, request for proposals, or request for quotes states:

   1. (i) that the procurement unit is seeking, or willing to consider, a lease; and
   2. (ii) for a lease purchase, that the procurement unit is seeking, or willing to consider, a lease-purchase;
5. (e) the lease is not used to avoid competition; and
6. (f) the lease complies to all other provisions of law or rule applicable to the lease.