§ 2-562.1. Bonds for other than construction contracts.

(a)

At the discretion of the purchasing agent, bidders may be required to submit with their bid a bid bond, or a certified check, in an amount to be determined by the purchasing agent and specified in the invitation to bid, which shall be forfeited to the city as liquidated damages upon the bidder's failure to execute within ten (10) days a nonconstruction contract awarded to him or upon the bidder's failure to furnish any required performance or payment bonds in connection with a contract awarded to him as specified in the request for bids.

(b)

The purchasing agent may require successful bidders to furnish a performance bond and a payment bond at the expense of the successful bidder, in amounts to be determined by the purchasing agent and specified in the invitation to bid, to ensure the satisfactory completion of the work for which a contract or purchase order is awarded.

(Ord. No. 3910-89; Ord. No. 5999-04; Ord. No. 7036-14, § 1)

(Ord. No. 3910-89; Ord. No. 5999-04; Ord. No. 7036-14, § 1)