The purchasing agent shall have the authority to require a payment and/or performance bond, in cash or otherwise, for such amount as he or she may deem sufficient to secure the execution of the contract of furnishing supplies or services for the best interest of the city. For construction services, the purchasing agent may waive all or part of the requirements for payment and/or performance bonds in projects up to $100,000 in accordance with A.R.S. § 41-2574, which is incorporated herein by reference.
(1976 Code, § 3-4-5) (Ord. 653-19, passed 2-13-2019)