The Purchasing Officer shall have authority to require, as a condition of executing a contract for and on behalf of the city, a performance bond or a labor and material bond, or both, in the amounts as the Purchasing Officer shall determine to be reasonably necessary to protect the best interests of the city. The form and amounts of the bond or bonds, if required, shall be described in the notice inviting bids.
(`61 Code, § 2.68-8) (Ord. 906, passed 6-15-1999; Am. Ord. 1073, passed 4-18-2023)