{"data":{"id":"us-ky/krs-45a.857","jurisdiction":"us-ky","citation":"KRS 45A.857","heading":"Executive sessions of selection committee -- Ranking -- Interviews --","body":"Awarding of contract.\n(1) A selection committee shall meet in executive session to:\n(a) Evaluate the materials with which it has been provided;\n(b) Select the two (2) to five (5) mo st qualified firms based upon the weighted\nevaluation factors in the request for proposals; and\n(c) Rank the firms.\n(2) In executive session, a selection committee, at its discretion by majority vote, shall\ndetermine whether not to interview and to leave t he rankings in place, or to\ninterview the two (2) to five (5) firms to arrive at new rankings. If the selection\ncommittee decides not to interview and to leave the rankings in place, the winning\nfirm shall be chosen pursuant to paragraph (a) or paragraph ( b) of subsection (4) of\nthis section, as appropriate.\n(3) (a) If the selection committee decides to interview the two (2) to five (5) firms, it\nshall do so preferably on the same day. The firms shall be interviewed one (1)\nat a time, and each interview sha ll be attended only by representatives of the\nfirm and members of the selection committee. Members of the selection\ncommittee shall keep confidential the substance of an interview until the\ncontract to the winning firm is awarded.\n(b) After the two (2) to five (5) firms have been interviewed, the selection\ncommittee shall meet in executive session to:\n1. Rank the firms interviewed based upon the weighted evaluation factors\nestablished in the request for proposals; and\n2. Forward the rankings to the executive director.\n(c) The winning firm shall be awarded pursuant to paragraph (a) or paragraph (b)\nof subsection (4) of this section, as appropriate.\n(4) (a) For underwriter services:\n1. The name of the top -ranked underwriter firm shall be provided to the\nexecutive director. He shall state in writing to the secretary of the\nFinance and Administration Cabinet his reasons for agreeing or not\nagreeing with the selection. The secretary shall o rder that procurement\nproceed under subparagraph 2. of this paragraph, or he shall order that\nthe procurement procedure start again from the beginning pursuant to\nKRS 45A.843. The secretary shall state in writing the reasons for his\nactions.\n2. The executi ve director of the office shall negotiate a contract with the\ntop-ranked underwriter firm, as determined by the selection committee,\nat compensation which the executive director determines in writing to be\nfair and reasonable to the Commonwealth. In making  this decision, he\nshall take into account the estimated value of the services to be rendered,\nand the scope, complexity, and professional nature thereof. Should the\nexecutive director be able to negotiate a satisfactory price, the top -\nranked firm shall be  awarded the contract. The executive director shall\nstate in writing to the secretary of the Finance and Administration\nCabinet his justifications for the negotiated price.\n3. Should the executive director be unable to negotiate a satisfactory\ncontract with the top -ranking firm at a price that he considers fair and\nreasonable to the Commonwealth, he shall formally terminate\nnegotiations with the firm. The selection committee shall provide the\nexecutive director the name of the second -ranked firm. The execut ive\ndirector shall then undertake price negotiations with the second -ranked\nfirm. Should the executive director be able to negotiate a satisfactory\nprice, the second -ranked firm shall be awarded the contract. The\nexecutive director shall state in writing t o the secretary of the Finance\nand Administration Cabinet his justifications for the negotiated price.\n4. Failing accord with the second -ranked firm, the executive director shall\nformally terminate negotiations. The selection committee shall provide\nthe ex ecutive director the name of the third -ranked firm, if any. The\nexecutive director shall then undertake price negotiations with the third -\nranked firm. Should the executive director be able to negotiate a\nsatisfactory price, the third -ranked firm shall be a warded the contract.\nThe executive director shall state in writing to the secretary of the\nFinance and Administration Cabinet his reasons for agreeing or not\nagreeing with the price. Should the executive director be unable to\nnegotiate a satisfactory contr act with the third -ranked firm, he shall\nformally terminate negotiations, and the procurement procedure shall\nstart again from the beginning pursuant to KRS 45A.843.\n(b) For bond counsel services:\n1. The name of the top -ranked firm shall be provided to the  executive\ndirector. If the executive director does not agree with the selection\nrecommended by the selection committee, the name of the second -\nranked firm shall be submitted to the executive director.\n2. The executive director shall submit the name of the  first-ranked firm, or\nthe second-ranked firm if the executive director did not agree with the\nfirst selection made by the selection committee, to the secretary of the\nFinance and Administration Cabinet. The executive director shall state\nin writing to the secretary of the Finance and Administration Cabinet his\nreasons for agreeing or not agreeing with the selection. The secretary\nshall order the hiring of the selected firm, or he shall order that the\nprocurement procedure shall start again from the beginni ng pursuant to\nKRS 45A.843. The secretary shall state in writing the reasons for his\nactions.","path":["KRS Chapter 45A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=22499","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:08Z","sha256":"43ae086ac0a6dd83f92de35f42df374a80e6f8148c5fae881f6b7f0f64b16221","source_id":"us-ky","stale":false,"prev":"us-ky/krs-45a.853","next":"us-ky/krs-45a.860"},"notice":"GroundRules: Original legal text. Not legal advice."}