Lease-Purchase Agreements.
Section 33
SEC. 33. Lease-Purchase Agreements.—Ministries, bureaus, offices or agencies may enter into agreements for lease-purchase of equipment subject to public bidding and to the approval of the Office of Budget and Management, and other pertinent accounting and auditing regulations. Details of the payment shall be indicated in the lease-purchase agreement and accompanied with certification of availability of equipment outlay authorized for the agency in this Act to cover the full contract cost: Provided, That lease-purchase agreements may be entered into only for specialized equipment with high unit costs and not for such equipment as typewriters, adding machines, automobiles the purchase price of which is at least P50,000.00: and Provided, further, That all lease-purchase agreements of equipment with a total value in excess of P200,000.00 shall be subject to the approval of the President. PERSONAL SERVICES BENEFITS