Statutes > New Mexico Statutes > Chapter 15 - Administration of Government. > Article 3B - Property Control, 15-3B-1 through 15-3B-21. > Section 15-3B-11 - Capital projects; contingency limitation.

Section 15-3B-11 - Capital projects; contingency limitation.

15-3B-11. Capital projects; contingency limitation.

No more than six and one-half percent of the cost of a capital project shall be used for contingencies. For the purposes of this section, "contingencies" means unforeseeable elements of cost within the defined scope of the capital project.