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Idaho Statutes Title 40. Highways and Bridges § 40-108. Definitions--G

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(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.

Cite this article: - Idaho Statutes Title 40. Highways and Bridges § 40-108. Definitions--G - last updated January 01, 2023 |

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