§ 31-25-516 — Contracts for construction - bond - default

Colorado § 31-25-516

• Jurisdiction: Colorado
• Title 31: Government
• Art.: Public Improvements

Text

(1) Except as
provided in this section, all local improvements made under the provisions of this
part 5 shall be constructed by independent contract, and all contracts shall be let
by the mayor with the approval of the governing body. All such contracts shall be
let to the lowest reliable and responsible bidder after public advertisement once a
week for three consecutive weeks in a newspaper of general circulation in such
municipality; but, after such advertisement, if it is determined by the governing
body that the bids are too high or that the proposed improvement can be made by
the municipality for less than the bid of the lowest reliable and responsible bidder,
such municipality is hereby empowered to provide for doing the work by hiring labor
by the day or otherwise and to arrange for purchasing necessary material, all under
the supervision of the governing body.

(2) Except when the municipality does the work, no contract shall be made
without a surety bond for its faithful performance with sufficient sureties to be
approved by the governing body. No surety shall be accepted or approved by the
governing body or mayor, other than a corporate surety company, unless he is the
owner of real estate in this state, free and clear of all encumbrances, in double the
amount of his liability on all bonds upon which he may then be surety. Upon default
in the performance of any contract, the governing body may advertise and relet the
remainder of the work in like manner without further ordinance and deduct the cost
from the original contract price or, with the approval of the governing body,
advance any excess out of the funds of the municipality and recover the same by
suit on the original bond. In all advertisements the right shall be reserved to reject
any or all bids and, upon rejecting all bids, if deemed advisable by the governing
body, other bids may be advertised for.

Legislative History

Source: L. 75: Entire title R&RE, p. 1195, � 1, effective July 1.