§ 61-127. Contracts made by a public entity - Applicability.

Latest version.

This act shall apply to contracts made by a public entity operating pursuant to the Local Industrial Development Act or the Local Development Act except where the public improvements, buildings, or repairs are being made or constructed as a part of an agreement to provide development financing assistance, and where the cost of such public improvements does not exceed twenty-five percent (25%) of the total amount of the estimated public and private investment being made within the related increment district.

Added by Laws 1974, c. 298, § 27, operative Aug. 1, 1974. Amended by Laws 2006, c. 271, § 25, eff. July 1, 2006; Laws 2011, c. 361, § 3.

                    
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