Code of Virginia § 66-25.7. Fixed-price or not-to-exceed-price design-build-operate and related contracts authorized.
151 words·~1 min read·
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Notwithstanding any other provisions of law to the contrary, but in accordance with the procedures consistent with those described in the Virginia Public Procurement Act (§ 2.2-4300 et seq.) for procurement of nonprofessional services through competitive negotiation, the Director may enter into design-build-operate contracts for juvenile correctional facilities on a fixed-price or not-to-exceed-price basis, including related leases, lease/purchase contracts, agreements relating to the sale of securities to finance such facilities, and similar financing agreements and agreements for correctional services.
For the purposes of this section, "design-build-operate contract" means a contract between the Commonwealth and another party in which the party contracting with the Commonwealth agrees to
(i)design, build and operate the juvenile correctional facility or
(ii)design and build the juvenile correctional facility where the facility is to be operated by a third party.
The Director shall maintain adequate records to allow post-project evaluation.
1996, cc. 795 , 942 .