§ 24-105-302 — Fiscal responsibility

Every contract modification or contract
price adjustment under a construction contract with the state in excess of an
amount specified in the contract shall be subject to prior written certification by the
controller or other official responsible for monitoring and reporting upon the status
of the costs of the total project or contract budget as to the effect of the contract
modification or adjustment in contract price on the total project or contract budget.
In the event that the certification of the controller or other responsible official
discloses a resulting increase in the total project or contract budget, the
procurement agent shall not execute or make such contract modification or
adjustment in contract price unless sufficient funds are available therefor or the
scope of the project or contract is adjusted so as to permit the degree of
completion that is feasible within the total project or contract budget as it existed
prior to the contract modification or adjustment in contract price under
consideration; except that, with respect to the validity of any executed contract
modification or adjustment in contract price which the contractor has reasonably
relied upon, it shall be presumed that there has been compliance with the
provisions of this section.

Legislative History

Source: L. 81: Entire article added, p. 1275, � 1, effective January 1, 1982. L. 2017: Entire section amended, (HB 17-1051), ch. 99, p. 330, � 36, effective August 9.