IC 5-17-1-2.5: Road or street work contracts; open price; material price adjustments; limitation

Sec. 2.5. (a) Notwithstanding sections 2 and 3 of this chapter and IC 8-23-9, the Indiana department of transportation may award a public works contract for road or street work subject to the open price provisions of IC 26-1-2-305.

(b) Such a contract may provide that prices for construction materials, including but not limited to liquid asphalts, are subject to price of materials adjustment. When price adjustments are part of the contract, the method of price adjustment shall be specified in the contract.

(c) Nothing in this section authorizes the expenditure of money over and above the total amount of money appropriated by the state for road and street contracts.