The Town hereby adopts the provisions of A.R.S. § 41-2574, as amended with regard to performance and payment bonds. Performance and payment bonds, each in an amount equal to 100% of the contract price, are required for all contracts in excess of the amount established in A.R.S. § 41-2535. The Town Manager shall have the authority to determine whether performance and payment bonds are necessary and, if they are, the amount deemed sufficient for a contract below the amount established in A.R.S. § 41-2535.
(Ord. 2020-884, passed 8-11-2020)