§ 1287. Construction contracts. 1. Construction contracts other than for resource recovery facilities let by the corporation shall be in conformity with the applicable provisions of section one hundred thirty-five of the state finance law, but the corporation in its discretion may assign such contracts for supervision and coordination to the successful bidder for any subdivision of work for which the corporation receives bids. Contracts for resource recovery facilities may be awarded by the corporation in the same manner as by a municipality pursuant to section one hundred twenty-w of the general municipal law.

2. Except in the case of contracts for resource recovery facilities awarded consistent with subdivision one of this section, the corporation shall not award any construction contract involving an expenditure of more than ten thousand dollars except to the lowest bidder who in its opinion is qualified to perform the work required and is responsible and reliable. The lowest bid shall be deemed to be that which specifically states the lowest gross sum for which the entire work will be performed, including all items in the bid proposal. The lowest bid shall be determined by the corporation on the basis of the gross sum for which the entire work will be performed, arrived at by a correct computation of all items specified in the bid therefor at the unit prices contained in the bid. The corporation may, however, reject any or all bids or waive any informality in a bid if it believes that the public interest will be promoted thereby. The corporation may reject any bid if in its judgment the business and technical organization, plant, resources, financial standing or experience of the bidder, compared with the work to be performed, justifies such rejection.

3. Any construction contract awarded by the corporation shall contain such other terms and conditions, and such provisions for penalties, as the corporation may deem desirable.

4. Notwithstanding the provisions of any other law to the contrary, all contracts for public work awarded by the New York state environmental facilities corporation pursuant to this section shall be in accordance with section one hundred thirty-nine-f of the state finance law.