Proposed Revision to 1003.4.2 - Capitol Construction Bids Exceeding Authorization
1. When bids for capital construction projects which have been approved by the Board of Regents exceed the authorized project funds, the following procedures shall apply.
exceeding project authorization by less than 10%. If the acceptable bid is less than 10% over the amount authorized
by the Board of Regents, the
Capital Construction Committee by majority vote may approve the additional
authorization upon the recommendation of the Commissioner of Higher Education.
The Commissioner shall certify that funds are available and provide necessary written documentation in advance.
The action of the Committee shall be reported to the next meeting of the Board of Regents.
2. Bids exceeding project authorization by 10% or more. If the acceptable bid is 10% or more over the amount authorized by the Board of Regents the matter shall be referred to the Board of Regents for approval of the additional authorization.
The Commissioner shall provide necessary written documentation in advance.
Item 26-011-R0180, Capital construction bids exceeding authorization, Montana University System, January 7, 1980.