Upon the award being made, the successful bidder shall, within ten days of notice, file with the City Clerk a contract duly executed by him or her for the doing of the work and shall likewise file with the City Clerk a personal bond in the amount of $1,000 with individual surety to be approved by the Mayor, conditioned on said contract and that the successful bidder will comply with all the laws, ordinances, rulings and orders of the United States, the state, the county and the city, and that he or she make payment to all persons whom he or she may become indebted to by reason of this contract, and that he or she will pay all damages to the city that may arise from injury to person or property if the result of any negligence on his or her part in doing of the work, and should the bidder fail to execute said contract or to file said bond as herein provided within the time specified, to-wit, ten days, the deposit herein referred to shall be forfeited to the city as liquidated damages. Upon filing the contract and bond as herein provided, the amount accompanying his or her bid shall be returned to him or her.
(1999 Code, § 17-1-14)