The bid bond or faithful performance bond, when a certified check payable to the City is not furnished in lieu thereof, shall be executed by the bidder and by a responsible corporate surety company; or two or more individual sureties if and when approved by the bidding authority.
In the discretion of the Governing Body, deposit of cash by way of bond may be authorized to be deposited with the City Treasurer under such procedure as may be approved by the City Treasurer and the City Controller.
SECTION HISTORY
Based on Ord. No. 114,262.
Amended by: In Entirety, Ord. No. 185,205, Eff. 11-22-17.