Substitution of Bonds for Retainage on Construction Projects

30:10-01-10

Each institutional President or the institution’s equivalent position to that of Vice President for Administration and Finance is authorized to approve arrangements and agreements for the substitution of U.S. Treasury Bonds or bills for retainage on construction projects, utilizing the provisions of the Oklahoma Public Competitive Bidding Act as a guideline, after review by Long Range Facilities Planning and the Board’s Legal Counsel.

Amended Date: 
October 24, 2014