The transportation commission is authorized to enter into contracts with the federal government, the state of Colorado and any of its institutions and agencies, counties, municipalities, districts, and any other political subdivisions of the state, and any department, agency, or instrumentality thereof, or any political or public corporation of the state or with private investors necessary or incident to the performance of its duties and execution of its powers under this section; except that any contract relating to the financing of any such construction, improvement, and reconstruction of highways and bridges shall be approved by the governor before the same becomes effective.
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