§ 1360. Contracts; manner of letting. Where the expense of the\nconstruction of a project, or a part thereof, or an addition, betterment\nor extension to the port facilities or industrial projects, or the\npurchase of materials, supplies and equipment involves an expense\nexceeding two thousand dollars, the authority shall advertise for bids\nand shall award the contract to the lowest responsible bidder fully\ncomplying with the plans and specifications. Such advertisement shall be\npublished once, not less than one week prior to the date fixed for the\nopening of bids, in one newspaper having a general circulation in the\ncity of Oswego. The authority may make rules and regulations for the\nsubmission of bids and award of contract thereon and may provide in such\nrules and regulations t
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§ 1360. Contracts; manner of letting. Where the expense of the\nconstruction of a project, or a part thereof, or an addition, betterment\nor extension to the port facilities or industrial projects, or the\npurchase of materials, supplies and equipment involves an expense\nexceeding two thousand dollars, the authority shall advertise for bids\nand shall award the contract to the lowest responsible bidder fully\ncomplying with the plans and specifications. Such advertisement shall be\npublished once, not less than one week prior to the date fixed for the\nopening of bids, in one newspaper having a general circulation in the\ncity of Oswego. The authority may make rules and regulations for the\nsubmission of bids and award of contract thereon and may provide in such\nrules and regulations that no performance, bond or undertaking need be\nfurnished by the contractor for the purchase of materials, supplies and\nequipment in an amount not exceeding two thousand dollars. No contract\nshall be entered into for the construction of a project, or a part\nthereof, or for an addition, betterment or extension to the facilities\nor for the purchase of materials, supplies and equipment in an amount\nexceeding two thousand dollars unless the contractor shall give an\nundertaking with a sufficient surety or sureties approved by the\nauthority and in the amount fixed by the authority for the faithful\nperformance of the contract. As to a contract entered into for the\nconstruction, the undertaking shall provide, among other things, that\nthe person or corporation entering into such a contract will pay for all\nmaterials furnished and services rendered in the performance of the\ncontract and that a person or corporation furnishing such materials or\nrendering such services may maintain an action to recover for the same\nagainst the obligor in the undertaking as though such person or\ncorporation were named therein, provided the action is brought within\none year after the time the cause of action accrued. In case of public\nemergency involving accident or other damage by which the port\nfacilities, or any part thereof, shall become disabled, the authority\nmay cause all necessary repairs thereto to be made without\nadvertisement, bidding and the letting of a formal contract therefor.\n