§ 24-92-109 — Agency of government to submit cost estimate - definition

Colorado § 24-92-109

• Jurisdiction: Colorado
• Title 24: Government
• Art.: Construction Bidding for Public Projects

Text

(1)
(a) Whenever an agency of government other than the department of
transportation proposes to undertake the construction of a public project
reasonably expected to cost in excess of fifty thousand dollars by any means or
method other than by a contract awarded by competitive bid, it shall prepare and
submit a cost estimate in the same manner as other bidders. If the department of
transportation proposes to undertake the construction of a public project by any
such means or method, it shall submit a cost estimate when and as required by
subsections (1)(b) and (1)(c) of this section. Any agency of government shall not
undertake a proposed public project itself unless it shows the lowest cost estimate.

(b) (I) For public projects under the supervision of the department of
transportation that the department proposes to undertake by any means or method
other than by a contract awarded by competitive bid, the department shall prepare
and submit a cost estimate if the cost of the project is reasonably expected to
exceed three hundred thousand dollars. The department may adjust this project
cost cap annually for inflation and may round the adjusted amount upward to the
nearest five thousand dollars.

(II) As used in this subsection (1)(b), inflation means the annual percentage
change in the United States department of transportation and federal highway
administration's national highway construction cost index or a successor index. The
department shall publish annually the project cost cap, adjusted for inflation, on its
website.

(c) Cost estimates for public projects undertaken by the department of
transportation that are reasonably expected to cost more than one hundred fifty
thousand dollars but not more than the project cost cap as determined pursuant to
subsection (1)(b) of this section shall be submitted to the transportation commission
on at least a quarterly basis for its review and approval.

(2) In preparing such cost estimate, the agency of government shall preserve
a full, true, and accurate record of the cost of such project. Such records shall be
kept and maintained by the responsible officer on behalf of the agency of
government. To the extent the agency of government contracts with any other
state or local government agency in connection with a public project, such other
agency shall provide all necessary data or information to enable the agency of
government to document a full, true, and accurate record of the cost of such
project, which data or information shall be kept in an orderly manner by the agency
of government for a period of at least six years after completion of the project. All
such records shall be considered public records and shall be made available for
public inspection.

(3) State agencies shall not be required to be bonded when performing the
work on a public project.

Legislative History

Source: L. 81: Entire article added, p. 1257, � 1, effective July 1. L. 98: (1) amended, p. 1042, � 2, effective August 5. L. 2021: (1) amended, (HB 21-1056), ch. 181, p. 977, � 2, effective September 7. L. 2024: (1) amended, (HB 24-1143), ch. 114, p. 369, � 2, effective August 7.