All contractors shall be required to give a performance bond and a payment bond, which may be in one or in separate instruments, for the faithful performance of such contract as may be awarded them, with good and sufficient sureties in amounts to be fixed by the board of commissioners; and the board of commissioners shall not remit or excuse the penalty or forfeiture of said bond or bonds or the breaches thereof. The board of commissioners may appoint all necessary agents for carrying on the work and may fix their pay. They may buy all necessary material and implements as may be on hand and which may be necessary for the completion of the improvements under way, or which have been completed; and may in general, make all such contracts in the prosecution of the work as may best serve the public interest. It shall be the duty of the board of commissioners to have the amount of any work done by the contractor estimated from time to time, as may be desirable, by the engineer selected by the board of commissioners; and said board shall draw its warrants in favor of the contractor for not more than ninety per cent (90%) of the work so reported, reserving the remainder until it has been ascertained that the work has been completed according to contract, and is free from liens.
Sources: Codes, Hemingway's 1917, § 4458; 1930, § 4477; 1942, § 4703; Laws, 1912, ch. 195; Laws, 1968, ch. 240, § 1, eff from and after passage (approved April 2, 1968).
All contractors shall be required to give a performance bond and a payment bond, which may be in one or in separate instruments, for the faithful performance of such contract as may be awarded them, with good and sufficient sureties in amounts to be fixed by the board of commissioners; and the board of commissioners shall not remit or excuse the penalty or forfeiture of said bond or bonds or the breaches thereof. The board of commissioners may appoint all necessary agents for carrying on the work and may fix their pay. They may buy all necessary material and implements as may be on hand and which may be necessary for the completion of the improvements under way, or which have been completed; and may in general, make all such contracts in the prosecution of the work as may best serve the public interest. It shall be the duty of the board of commissioners to have the amount of any work done by the contractor estimated from time to time, as may be desirable, by the engineer selected by the board of commissioners; and said board shall draw its warrants in favor of the contractor for not more than ninety per cent (90%) of the work so reported, reserving the remainder until it has been ascertained that the work has been completed according to contract, and is free from liens.
Sources: Codes, Hemingway's 1917, § 4458; 1930, § 4477; 1942, § 4703; Laws, 1912, ch. 195; Laws, 1968, ch. 240, § 1, eff from and after passage (approved April 2, 1968).
All contractors shall be required to give a performance bond and a payment bond, which may be in one or in separate instruments, for the faithful performance of such contract as may be awarded them, with good and sufficient sureties in amounts to be fixed by the board of commissioners; and the board of commissioners shall not remit or excuse the penalty or forfeiture of said bond or bonds or the breaches thereof. The board of commissioners may appoint all necessary agents for carrying on the work and may fix their pay. They may buy all necessary material and implements as may be on hand and which may be necessary for the completion of the improvements under way, or which have been completed; and may in general, make all such contracts in the prosecution of the work as may best serve the public interest. It shall be the duty of the board of commissioners to have the amount of any work done by the contractor estimated from time to time, as may be desirable, by the engineer selected by the board of commissioners; and said board shall draw its warrants in favor of the contractor for not more than ninety per cent (90%) of the work so reported, reserving the remainder until it has been ascertained that the work has been completed according to contract, and is free from liens.
Sources: Codes, Hemingway's 1917, § 4458; 1930, § 4477; 1942, § 4703; Laws, 1912, ch. 195; Laws, 1968, ch. 240, § 1, eff from and after passage (approved April 2, 1968).
