(a) Exemption Criteria: The Minority Business Coordinator, in consultation with the Finance Department, may recommend to the City Manager an exemption for MBEs or DBEs from posting bid bonds with bids and performance bonds with contract execution, provided one or more of the following conditions are met:
(1) The contract aligns with the bidder's abilities for goods, services, or construction.
(2) The waiver does not conflict with the Federal Wages and Hour Act, the Davis Bacon Act, or other federal procedures.
(3) The bidder's prior performance record supports their ability to execute the contract.
(b) State Prevailing Wage Requirements: This section shall not be interpreted to limit state prevailing wage requirements or exempt transactions from such requirements, if they would otherwise apply and be enforceable.