Forrestal Institute Act of 1997

[AI summary unavailable — showing source text] Forrestal Institute Act of 1997 - Authorizes the Secretary of Defense to establish the Forrestal Institute as a District of Columbia not-for-profit entity. Defines "Institute project" to mean any construction, operation, refurbishing, rebuilding, upgrading, or retrofitting of a defense energy facility or any environmental study or facility audit performed by a private party for such a facility. (Sec. 105) Sets forth the duties of the Institute, including: (1) entering into contracts to provide any military department an Institute project through the use of private parties (requires the Institute to procure all subcontracts, supplies, and services involving expenditures of over $100,000 through the use of competitive procedures approved by its Board of Directors); and (2) in lieu of performing such contracts directly, to negotiate contracts between or among the military departments and one or more private parties and to solicit and evaluate proposals and bids for such contracts. Prohibits the Institute from investing in an Institute project or otherwise acquiring or retaining an ownership interest in such project or its associated stream of revenues, or from performing the facility …