§ 2-383. Security of bidder.

Latest version.

The city council may, in its discretion, require reasonable security from all bidders to secure the execution of any contract pursuant to such bid if the same is awarded. Where such security is required, the invitation and advertisement shall advise each bidder that if the contract is awarded to such bidder and the bidder fails to accept or execute such contract as awarded without a valid excuse, the security shall be forfeited.

(Code 1959, § 19-8)

                    
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