Subject to the limitations of this section, any type of contract which will promote the best interests of the state may be used; except that the use of a cost-plus-a-percentage-of-cost contract is prohibited. A contingency-based contract may be used only upon approval by the governor's office of state planning and budgeting pursuant to section 24-17-204. A cost-reimbursement contract may be used only when a determination is made in writing that such contract is likely to be less costly to the state than any other type of contract or that it is impracticable to obtain the supplies, services, or construction required unless the costreimbursement contract is used.
Source: L. 2017: Entire section added with relocated provisions, (HB 17-1051), ch. 99, p. 331, § 38, effective August 9.
Editor's note: This section is similar to former § 24-103-501 as it existed prior to 2017. For a detailed comparison of this section, see the comparative tables located in the back of the index.