66-25.7 - Fixed-price or not-to-exceed-price design-build-operate and related contracts authorized. - Virginia Statutes

§ 66-25.7. Fixed-price or not-to-exceed-price design-build-operate andrelated contracts authorized.

Notwithstanding any other provisions of law to the contrary, but inaccordance with the procedures consistent with those described in theVirginia Public Procurement Act (§ 2.2-4300 et seq.) for procurement ofnonprofessional services through competitive negotiation, the Director mayenter into design-build-operate contracts for juvenile correctionalfacilities on a fixed-price or not-to-exceed-price basis, including relatedleases, lease/purchase contracts, agreements relating to the sale ofsecurities to finance such facilities, and similar financing agreements andagreements for correctional services. For the purposes of this section,"design-build-operate contract" means a contract between the Commonwealthand another party in which the party contracting with the Commonwealth agreesto (i) design, build and operate the juvenile correctional facility or (ii)design and build the juvenile correctional facility where the facility is tobe operated by a third party.

The Director shall maintain adequate records to allow post-project evaluation.

(1996, cc. 795, 942.)