[Code of Federal Regulations]
[Title 13, Volume 1]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 13CFR305.13]

[Page 555]
 
                TITLE 13--BUSINESS CREDIT AND ASSISTANCE
 
CHAPTER III--ECONOMIC DEVELOPMENT ADMINISTRATION, DEPARTMENT OF COMMERCE
 
PART 305--GRANTS FOR PUBLIC WORKS AND DEVELOPMENT FACILITIES--Table of Contents
 
              Subpart B--Requirements for Approved Projects
 
Sec. 305.13  Bid overrun.

    If at the construction contract bid opening the lowest responsive 
bid less deductive alternates, if any, exceeds the funds available for 
construction, the recipient may reject all bids or augment the funds 
available in an amount sufficient to enable the award to be made to the 
low bidder. If available, the recipient may take deductive alternates in 
the order given in the Invitation for Bids until at least one of the 
responsive bids less deductive alternates results in a price within the 
funds announced as available prior to the bid opening. The award then 
may be made to that bidder. Additional information on the procedures to 
be followed is in the EDA publication, Requirements for Approved 
Construction Projects.

[64 FR 69876, Dec. 14, 1999]