§ 2508 — Contracts of the authority

* § 2508. Contracts of the authority. 1. All contracts for the\nconstruction, reconstruction, rehabilitation or improvement of buildings\nor structures shall be let in the manner provided by law for contracts\nof the city. The authority in preparing separate specifications may\nprovide for assignment of responsibility for coordination of any of the\ncontracts for such work to a responsible person, firm or corporation.\n 2. The authority shall not award any construction contract except to\nthe lowest bidder who in its opinion is qualified to perform the work\nrequired and is responsible and reliable. The authority may, however,\nreject all bids or waive any informality in a bid if it believes that\nthe public interest will be promoted thereby. The authority may reject\nany bid if in its judgment the business and technical organization,\nplan, resources, financial standing or experience of the bidder,\ncompared with the work to be performed, justifies such rejection.\n 3. Any construction contract awarded by the authority shall contain\nsuch other terms and conditions, and such provisions for penalties, as\nthe authority may deem desirable.\n * NB (Discontinued-Board of Directors never appointed)\n