Public-private covenant
Public-private covenants, or public-private partnerships, ("PPC's", "P3's") are cooperative arrangements between two or more public and private sectors (or firms from those sectors), typically of a long-term nature, in Nouvelle Alexandrie. At the federal level, public-private covenants usually take the form of civil works or infrastructure projects, toll or revenue concessions, community post offices, urban and rural renewal projects. These covenants at the federal level are regulated by the Department of the Treasury and by Act of the Cortes Federales. Public-private covenants have been carried out many times, especially as part of the New Prosperity Plan, with great success. Many others, however, have attracted much controversy and scandal.
Origins
Public-private covenants in Nouvelle Alexandrie are legal legacies from Caputia and Alduria, as both nations regularly employed the issuance of "settlement charters" that served as partnerships between the governments of those nations and companies responsible for settlement and colonization. Many of the infrastructure projects built during the New Prosperity Plan were managed and completed successfully by public-private covenants where the government partnered with businesses and corporation to build them.
Legal experts and historians also trace the use of public-private covenants even before Caputia and Alduria to Shireroth, especially in the foundation of Neridia by Kaiser Redquill in 1617 AN. Imperial Decree Nº 685 established the Imperial State of Neridia and tasked Janus Eadric, the Count of Ransenar, and his Neridia Company to settle Neridia in the island of Istvanistan.
The prevalence of public-private covenants or partnerships in public infrastructure increased dramatically during the heyday of the New Prosperity Plan. A great part of the projects of the New Prosperity Plan were funded either through well-functioning New Prosperity bond programs and public-private covenants.
