- (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.]