Tennessee § 54-12-310 Bond or cash deposit required of successful bidders

Tennessee Statutes

§ 54-12-310 — Bond or cash deposit required of successful bidders

Tennessee § 54-12-310

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This text of Tennessee § 54-12-310 (Bond or cash deposit required of successful bidders) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 54-12-310 (2026).

Text

The successful bidder shall be required to execute a bond, with sufficient sureties, payable to the county, for the use and benefit of the improvement district, in an amount equal to twenty-five percent (25%) of the estimated cost of the work, so let or that amount may be deposited in cash with the treasurer of the board of directors as security for the performance of the contract, and upon the execution of the bond or the making of the deposit, the deposit originally made with the bid shall be returned.

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The successful bidder shall be required to execute a bond, with sufficient sureties, payable to the county, for the use and benefit of the improvement district, in an amount equal to twenty-five percent (25%) of the estimated cost of the work, so let or that amount may be deposited in cash with the treasurer of the board of directors as security for the performance of the contract, and upon the execution of the bond or the making of the deposit, the deposit originally made with the bid shall be returned.