§103D-313 Types of contracts. (a) Subject to the limitations of this section, any type of contract that will promote the State's best interests may be used.
(b) Cost-reimbursement and cost-plus-a-percentage-of-cost contracts may be used only when the chief procurement officer determines in writing that such a contract is likely to be less costly than any other type of contract or that it is impracticable to obtain the goods, services, or construction required except by means of such a contract. Cost-reimbursement and cost-plus-a-percentage-of-cost contracts shall not be used if their use would jeopardize the receipt of federal assistance moneys or reduce the amount of such assistance under any applicable federal statute or regulation.
(c) In addition to the requirements of subsections (a) and (b), a cost-plus-a-percentage-of-cost contract may not be awarded unless:
(d) The policy board shall adopt rules to implement this section. [L Sp 1993, c 8, pt of §2; am L 1997, c 352, §23]