KRS 67A.740: Construction contracts -- Bids -- Performance bonds.

Proposals for the construction of the project shall be solicited upon the basis of the

submission of sealed competitive bids after advertisement, by publication pursuant to

KRS Chapter 424. Upon or after the acceptance by the governing body of a bid, or

combination of bids, the governing body may determine the total cost for the proposed

project, taking into account the amount of the accepted bids, and all other costs of the

project, as herein defined. Each contract shall be supported by a performance bond for the

full amount thereof, with good surety to be approved by the governing body.