Policy 902.10
Contracts
Contract forms shall be prepared by the Architect/Engineer in cooperation with the administrative staff and attorney and shall be approved by the Board. Such forms shall be designed in accordance with the state law as to format, terminology, and methods of execution.
Whenever any contract is entered into for the erecting, furnishing, or repairing of any building or other public structure or improvement, the contractor shall be required, before commencing such work, to furnish a performance, labor and material payment bond. The bond requirement shall not apply, however, to any project bid or proposed which has a total cost of $10,000 or less unless the School Board or Administration includes a bond requirement in the specifications for the project. The bond shall be in an amount not less than the contract price. The bond shall be conditioned on the faithful performance of the contract and the payment by the contracting party of all laborers and mechanics for labor that is performed and of all material and equipment rental that is actually used or rented in connection with the improvement project and the performance of the contract. Such bond shall contain such provisions as are required by statutes, and be in a form prescribed and required by the district.
All contracts shall be made and set forth in writing and shall be signed by the president and secretary of the Board or by such other persons authorized to do so by the Board in accordance with statutes regarding the signing of contracts.
Legal Reference:
Neb. Rev. Stat. 81-3445
Approved: February 10, 1992
Revised: January 13, 1997
Revised: September 11, 2006
Revised: September 10, 2007