§ 61-35-99 — Failure to execute contractor's bond

If the successful bidder, within ten days after the acceptance of the bid or such further time
as the board may grant, does not execute a contractor's bond and a contract for the completion
of the work described in the bid, the board may cause the work to be done, or it may contract
with some other contractor to do or complete the work. In that case, the district may recover in a
suit on the defaulting bidder's bond the difference between the actual cost to the district of the
improvements and the sum that it would have cost if the defaulting bidder had complied with the
bidder's bid.