Sec. 8. The board may award a public work contract for road, street, or bridge work subject to the open price provisions of IC 26-1-2-305. The contract may provide that prices for construction materials are subject to price of materials adjustment. When price adjustments are part of the contract, the method of price adjustments shall be specified in the contract. However, this section does not authorize the expenditure of money above the total amount of money appropriated by the political subdivision or agency for road, street, or bridge contracts.
Ind. Code § 36-1-12-8
Road, street, or bridge work; open price provisions; price adjustments of materials; limitations
Applied in 1 court decision — leading case Dow-Par, Inc. v. Lee Corp. (1994)
Most recently applied in Dow-Par, Inc. v. Lee Corp. (December 1994)
As added by Acts 1981, P.L.57, SEC.38
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.