§ 5-2-2-12 — Contracts; form; publication

The commission shall not enter into any
contract for the purchase or sale of any material or supplies or for the
performance of any work or labor other than the salaries of employees,
when such material, supplies, work or labor costs are more than ten
thousand dollars ($10,000), without first giving notice of its intention
to purchase or sell such material or supplies, or to contract for such
work or labor, by publication in some newspaper of general circulation
printed and published in the City of Indianapolis, for two (2) successive
weeks prior to the time fixed for the letting of any such contract or the
purchase or sale of such material or supplies. All such contracts shall
be in writing and the other contracting party shall be required to furnish
bond for the faithful performance of the terms of such contract, in such
amount as may be fixed by the commission and with surety to its
approval, and conditioned upon the faithful performance of such
contract.
Formerly: Acts 1971, P.L.43, SEC.1.