(65 ILCS 5/8-10-13) (from Ch. 24, par. 8-10-13)
Sec. 8-10-13.
Bond, with sufficient sureties, in such amount as shall
be deemed adequate, not only to insure performance of contract in the
time and manner prescribed in the contract, but also to save, indemnify,
and keep harmless the municipality against all loss, damages, claims,
liabilities, judgments, costs, and expenses which may in anywise accrue
against the municipality in consequence of the granting of the contract,
or which may in anywise result therefrom, may be required of each bidder
upon contracts involving amounts in excess of $10,000 when, in the
opinion of the purchasing agent, the public interests will be served
thereby.
(Source: P.A. 81-1376.)
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