§ 22-39. Alternative forms of security.

Latest version.

(a)

In lieu of a bid, payment, or performance bond, a bidder may furnish a certified check, cashier's check, or cash escrow in the face amount required for the bond.

(b)

If approved by the county attorney, a bidder may furnish a bank or savings and loan association's irrevocable letter of credit on certain designated funds in the face amount required for the bid bond. Approval shall be granted only upon a determination that the alternative form of security proffered affords protection to the county at least equivalent to a corporate surety's bond.

(Ord. of 1-5-2010; Ord. of 9-3-2013)

(Ord. of 1-5-2010; Ord. of 9-3-2013)

                    
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