Section 24-38-204 - Public-private initiative agreements - cost savings

(1) An agency shall enter into an agreement for each public-private initiative that it accepts.(2) An agency shall include terms and conditions in the agreement that it determines are appropriate in the public interest.(3) If an agency achieves cost savings in a fiscal year by entering into a public-private initiative agreement, the agency shall be eligible to retain a portion of any cost savings resulting from the agreement as provided in section 24-38-103.(4) An agency that enters into a public-private initiative agreement with a nonprofit entity is not a partner or a joint venturer with the nonprofit entity for any purpose.L. 2010: Entire part added, (HB 10-1010), ch. 90, p. 308, §1, effective August 11.