Higher educational institutions, public; contracting firms, president of the institution.

Public institutions of higher education; contractingfirms; president of the institution; delegation. Allows a presidentof a public institution of higher education to delegate to an officeror administrator of the institution his obligation to determine andmake a written finding as a matter of public record that a contractis in the best interests of the institution when an officer or employeewhose personal interest in a contract with the institution is byreason of an ownership in the contracting firm in excess of threepercent of the contracting firm's equity or such ownership interestand income from the contracting firm is in excess of $5,000 per year.