KRS 341.317: Bond of public works contractor.

(1) Before any contract, exceeding two thousand dollars ($2,000) in amount, is awarded

to any person for the construction, alteration, or repair of any public building or

public work of the Commonwealth of Kentucky, or any subdivision, county or

municipality thereof, such person shall furnish to the contracting agency, county or

municipality a payment bond with satisfactory surety, which shall become binding

upon the award of the contract to such person, to assure the payment of all

contributions under this chapter incurred by such person incident to his performance

of such contract.

(2) Nothing in this section shall be construed to limit the authority of any contracting

agency, county or municipality to require such other bonds or security as might be

elsewhere authorized or deemed desirable.