§ 159D-43. Construction contracts. - North Carolina Statutes

§ 159D‑43. Construction contracts.

If the agency determines that the purposes of this Article will be moreeffectively served, the agency in its discretion may award or cause to beawarded contracts for the construction of any project on behalf of a participatinginstitution upon a negotiated basis as determined by the agency. The agencyshall prescribe any bid security requirements and other procedures inconnection with the award of the contracts as in its judgment will protect thepublic interest. The agency may by written contract engage the services of theparticipating institution in the construction of the project and may provide inthe contract that the participating institution, subject to any conditions andrequirements consistent with the provisions of this Article prescribed in thecontract, may act as an agent of, or an independent contractor for, the agencyfor the performance of the functions described in the contract including theacquisition of the site and other real property for the project, thepreparation of plans, specifications and contract documents, the award ofconstruction and other contracts upon a competitive or negotiated basis, theconstruction of the project directly by the participating institution, theinspection and supervision of construction, the employment of engineers,architects, builders and other contractors and the provision of money to paythe cost of these functions pending reimbursement by the agency. The contractmay provide that the agency may, out of proceeds of bonds or notes, makeadvances to or reimburse the participating institution for its costs incurredin the performance of these functions, and shall set forth the supportingdocuments required to be submitted to the agency and the reviews, examinationsand audits that are required in connection to assure compliance with theprovisions of this Article and the contract. (1985 (Reg. Sess., 1986), c. 794, s. 9; 1998‑124, s. 9; 2000‑179,s. 2.)