No. This is known as "turnkey financing," and it may not be used to circumvent the competitive bid laws. In a typical "turnkey" project, a private developer proposes to construct or renovate a building according to the needs and specifications of a municipality and the municipality agrees to subsequently purchase the building. Such a project would be subject to the bid laws at the time that an agreement, whether formal or informal, is consummated which obligates the municipality to purchase or lease the completed structure. 56 Op. Att'y Gen. 181 (1967); Contracts # 358 & # 316.