Policy 902.13
Surety Bonds
Whenever any contract is entered into for the construction of public improvement in excess of $10,000.00, the contractor may be required, before commencing such work, to furnish surety in the amount of not less than the contract price, for the faithful performance of such contract. Such bond shall contain such provisions as are required by statute, and be in a form prescribed and required by the School District. Bonds for construction of lesser amounts may be required by the Board.
Approved: February 10, 1992
Revised: January 13, 1997
Revised: September 11, 2006