2018 Idaho Statutes
Title 40 - HIGHWAYS AND BRIDGES
Chapter 1 - DEFINITIONS
Section 40-108 - DEFINITIONS — G.
40-108. DEFINITIONS — G. (1) "GARVEE" means grant anticipation revenue vehicle, a debt financing instrument which enables states to finance state transportation infrastructure projects and to pay debt service and other bond-related expenses with future federal-aid highway apportionments.
(2) "Guaranteed maximum price (GMP)" means the total maximum price that includes all reimbursable costs and fees, except for material changes in the scope of work, for completion of a construction manager/general contractor contract that is provided by the selected contractor and accepted by the department.
[40-108, added 2005, ch. 378, sec. 2, p. 1218; am. 2010, ch. 293, sec. 6, p. 780.]
Disclaimer: These codes may not be the most recent version. Idaho may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.