(65 ILCS 5/9-3-28) (from Ch. 24, par. 9-3-28)
Sec. 9-3-28.
The contract shall be executed by the contractor and the
presiding officer of the corporate authorities and attested by the clerk of
such municipality under the official seal of the municipality. Such
contractor shall supply a surety bond in the full amount of the contract
for the faithful performance thereof. Failure of the contractor to enter
into such contract and give such bond within the 20 days hereinabove
provided for shall constitute a default and the certified check deposited
with his bid shall be deemed forfeited, and the municipality shall again
re-advertise for bids. Any contractor who enters into a contract for the
construction of the improvement and who fails to complete the same within
the time mentioned in the contract, or within such further time as the
corporate authorities grant shall be in default and a contract may then be
relet for the unfinished portions of such work, in the same manner as
provided for advertising for bids in the first instance.
(Source: Laws 1961, p. 576.)
|