154.12 -050 Contracting of functions and services. (1) The cabinet shall have the authority to contract for the provision of any economic development function or service with private firms or public institutions provided that such contracts meet the following conditions: (a) They are based on competitive reque sts for proposals; (b) They incorporate strict performance standards and accountability criteria; (c) They require periodic audit; (d) They are subject to regular rebidding; and (e) Where appropriate, they leverage other private and public funds. (2) Where ver feasible, the cabinet shall contract for the provision of functions and services rather than establishing new governmental structures. Effective: July 14, 1992 History: Created 1992 Ky. Acts ch. 105, sec. 10 , effective July 14, 1992.
Kentucky Legal Code