ntracts for the construction of any project, or any part thereof, may be awarded by the Board in such manner as in its judgment will best promote free and open competition, including advertisement for competitive bids in a newspaper of general circulation in Guam provided, however, that if the Board shall determine that the purposes of this Chapter will thereby be more effectively served, the Board in its discretion may award contracts for the construction of any project, or any part thereof, upon a negotiated basis as determined by the Board. The Board shall prescribe such bid security requirements and other procedures in connection with the award of such contracts as in its judgment shall protect the public interest. The Board may by written contract engage the services of the lessee or prospective lessee of any project in the construction of such project and may provide in such contract that the lessee or prospective lessee may act as an agent of, or an independent contractor for, the Board for the performance of the functions described therein, subject to such conditions and requirements, consistent with the provisions of this Chapter as shall be prescribed in such contract, including such functions as the acquisition of the site and other real property for such project, the preparation of plans, specifications and contract documents, the award of construction and other contracts upon a competitive or negotiated basis, the construction of such project, or any part thereof, directly by such lessee or prospective lessee, the inspection and supervision of construction, the employment of engineers, architects, builders and other contractors and the provision of money to pay the cost thereof pending reimbursement by the Board. Any such contract may provide that the Board may, out of proceeds of bonds, make advances to or reimburse the lessee or prospective lessee for its costs incurred in the performance of such functions and shall set forth the supporting documents required to be submitted to the Board and the reviews, examinations and audits that shall be required in connection therewith to assure compliance with the provisions of this Chapter and such contract.

SOURCE: GC §53608.07, as added by P.L. 12-69.