(1) This section applies to unsolicited proposals under the Political Subdivisions Construction Alternatives Act.

(2) If the governing body of a political subdivision determines that there is sufficient merit to pursue such unsolicited proposal, a reasonable opportunity shall be provided for other private parties to submit competing proposals for consideration.

(3) A political subdivision may charge and retain an administrative fee of not more than five hundred dollars for:

(a) The initial evaluation and detailed review of an unsolicited proposal; and

(b) The review of any competing proposal.

(4) The political subdivision may:

(a) Spend money bonded or otherwise raised for the purpose of reviewing, developing, or implementing any unsolicited proposal; and

(b) Enter into any public-private partnership contract for a proposal that is deemed by the governing body of the political subdivision to be in the best interest of the political subdivision.