(a) If funds from private sources are provided to a public institution of higher education for projects that exceed five million dollars ($5,000,000) regulated in this subchapter sufficient to finance at least eighty percent (80%) of the estimated cost of the proposed project, excluding the cost of land, this subchapter and all other provisions of the Arkansas Code governing construction of public facilities, including without limitation §§ 22-9-101 and 22-9-103 and §§ 22-9-201 — 22-9-212, shall not be applicable to such projects, subject to the following:(1) (A) The governing board of the public institution of higher education shall have adopted a resolution and procedure that shall:(i) Set forth the method by which the architect, engineer, construction manager, contractor, and major subcontractors are to be selected for the project;(ii) Include by appropriate public notice and solicitation the opportunity for qualified, licensed professionals to submit proposals and assure the design and completion of the project in an expeditious manner while adhering to high standards of design and construction quality; and(iii) Require a payment and performance bond in an amount determined by the governing board and provide for the manner in which the construction shall be managed and supervised.(B) In selecting a contractor and other professionals for the projects, the governing board of the public institution of higher education shall consider the experience of the person or firm in constructing similar projects, the record of the person or firm in timely completion of such projects, and other similar matters to assure that the person or firm will complete the project within the time and to the specifications set by the governing board of the public institution of higher education;(2) (A) Before the public institution of higher education enters into a contract with an architect, engineer, construction manager, or contractor for the design, construction, or financing of any project financed from private funds as provided in this section, the public institution of higher education shall submit to the Chief Fiscal Officer of the State and the Legislative Council, in writing, a summary statement setting forth a general description of the proposed project, its estimated overall cost, and the method proposed to finance the cost, including a description of the sources and amount of private funds.(B) The Chief Fiscal Officer of the State may forward a copy of this statement to the Building Authority Division, the Secretary of the Department of Shared Administrative Services, and the Governor for information; and(3) To enable a public institution of higher education to qualify under this subsection, the private funds shall be paid to the public institution of higher education or to a fund or foundation for the benefit of the public institution of higher education, and such funds may be represented in whole or in part by a written pledge or commitment from a donor, if the public institution of higher education assures itself of the financial stability of the donor to fulfill the pledge or commitment.
(1) (A) The governing board of the public institution of higher education shall have adopted a resolution and procedure that shall:(i) Set forth the method by which the architect, engineer, construction manager, contractor, and major subcontractors are to be selected for the project;(ii) Include by appropriate public notice and solicitation the opportunity for qualified, licensed professionals to submit proposals and assure the design and completion of the project in an expeditious manner while adhering to high standards of design and construction quality; and(iii) Require a payment and performance bond in an amount determined by the governing board and provide for the manner in which the construction shall be managed and supervised.(B) In selecting a contractor and other professionals for the projects, the governing board of the public institution of higher education shall consider the experience of the person or firm in constructing similar projects, the record of the person or firm in timely completion of such projects, and other similar matters to assure that the person or firm will complete the project within the time and to the specifications set by the governing board of the public institution of higher education;
(A) The governing board of the public institution of higher education shall have adopted a resolution and procedure that shall:(i) Set forth the method by which the architect, engineer, construction manager, contractor, and major subcontractors are to be selected for the project;(ii) Include by appropriate public notice and solicitation the opportunity for qualified, licensed professionals to submit proposals and assure the design and completion of the project in an expeditious manner while adhering to high standards of design and construction quality; and(iii) Require a payment and performance bond in an amount determined by the governing board and provide for the manner in which the construction shall be managed and supervised.
(i) Set forth the method by which the architect, engineer, construction manager, contractor, and major subcontractors are to be selected for the project;
(ii) Include by appropriate public notice and solicitation the opportunity for qualified, licensed professionals to submit proposals and assure the design and completion of the project in an expeditious manner while adhering to high standards of design and construction quality; and
(iii) Require a payment and performance bond in an amount determined by the governing board and provide for the manner in which the construction shall be managed and supervised.
(B) In selecting a contractor and other professionals for the projects, the governing board of the public institution of higher education shall consider the experience of the person or firm in constructing similar projects, the record of the person or firm in timely completion of such projects, and other similar matters to assure that the person or firm will complete the project within the time and to the specifications set by the governing board of the public institution of higher education;
(2) (A) Before the public institution of higher education enters into a contract with an architect, engineer, construction manager, or contractor for the design, construction, or financing of any project financed from private funds as provided in this section, the public institution of higher education shall submit to the Chief Fiscal Officer of the State and the Legislative Council, in writing, a summary statement setting forth a general description of the proposed project, its estimated overall cost, and the method proposed to finance the cost, including a description of the sources and amount of private funds.(B) The Chief Fiscal Officer of the State may forward a copy of this statement to the Building Authority Division, the Secretary of the Department of Shared Administrative Services, and the Governor for information; and
(A) Before the public institution of higher education enters into a contract with an architect, engineer, construction manager, or contractor for the design, construction, or financing of any project financed from private funds as provided in this section, the public institution of higher education shall submit to the Chief Fiscal Officer of the State and the Legislative Council, in writing, a summary statement setting forth a general description of the proposed project, its estimated overall cost, and the method proposed to finance the cost, including a description of the sources and amount of private funds.
(B) The Chief Fiscal Officer of the State may forward a copy of this statement to the Building Authority Division, the Secretary of the Department of Shared Administrative Services, and the Governor for information; and
(3) To enable a public institution of higher education to qualify under this subsection, the private funds shall be paid to the public institution of higher education or to a fund or foundation for the benefit of the public institution of higher education, and such funds may be represented in whole or in part by a written pledge or commitment from a donor, if the public institution of higher education assures itself of the financial stability of the donor to fulfill the pledge or commitment.
(b) Notwithstanding anything in this section to the contrary, § 19-4-1405(f), §§ 22-9-401 — 22-9-404, § 22-9-501 et seq., § 22-9-601 et seq., and § 22-9-701 et seq. shall remain in full force and effect and shall not be affected by this section.