The purchasing officer shall have authority to require as a condition to executing a contract for or on behalf of the city, a performance bond or a labor and material bond, or both, in such amounts as the purchasing officer shall determine reasonably necessary to protect the best interests of the city. The form and amounts of such bond or bonds, if the same be required, shall be described in the notice inviting bids.
(Prior code §2.110 (Ord. 669))