A. Construction contractors desiring to enter contracts with the city shall be required to post bid, performance and payment bonds at a time and in a form and amount determined by the city engineer or that person's designee. The city engineer, or that person's designee, may require other bonds, securities or insurance in connection with city construction in any form and amount that he or she shall find reasonably necessary to protect the interest of the city.
B. The chief procurement officer, or that person's designee, shall have the authority to require a performance bond or other insurance or security before a contract is entered to purchase or acquire supplies or services, or at any other time, in such amount as he or she shall find reasonably necessary to protect the interest of the city. (Ord. 63-97 § 2, 1997)