N.Y. Public Authorities Law § 1115-v: Contracts

§ 1115-v. Contracts. 1. All contracts or orders for work, material or

supplies performed or furnished in connection with construction shall be

awarded by the contracting agency pursuant to resolution of its

governing body. Such awards shall be made in compliance with section one

hundred three of the general municipal law. In any construction

contract, the contracting agency may provide a program for the payment

of damages for delays and incentive awards in order to encourage timely

project completion. An action, suit or proceeding contesting the

validity of a contract awarded pursuant to this section, or the validity

of the procedures relating to such award, shall be governed by the

provisions of section one hundred three of the general municipal law and

the term "political subdivision" as defined in section one hundred of

the general municipal law shall be deemed to include the contracting

agency for the purposes of such section one hundred three.

2. The bidder whose bid is accepted shall give security for the

faithful performance of the contract, and such other security as the

contracting agency may require, and may be required to maintain any

construction done under the contract for such period as shall be

stipulated, all in the manner prescribed and required by the contracting

agency, and the sufficiency of such security shall, in addition to the

justification and acknowledgement, be approved by the contracting

agency. All bids or proposals shall be publicly opened by the governing

body or its duly authorized agent. If the bidder whose bid or proposal

has been accepted after advertising shall neglect or refuse to accept

the contract within five days after written notice that the contract has

been awarded to him on his bid or proposal, or if he accepts but does

not execute the contract and give proper security, the contracting

agency shall have the right to declare his deposit forfeited. In case

any work shall be abandoned by any contractor, the contracting agency

may, if it determines that the public interest is thereby served, adopt

on its own behalf any or all subcontracts made by such contractor for

such work and all such subcontractors shall be bound by such adoption if

made. No bid or proposal shall be accepted from, or any contract awarded

to, any person or corporation who is in arrears to the contracting

agency or the city upon any obligation of the contracting agency or of

the city. Every contract involving an expenditure of more than five

thousand dollars when made and entered into as herein provided for shall

be executed in duplicate, one copy of which shall be held by the

authority and one copy of which shall be delivered to the contractor.

The contracting agency may adopt, utilize, ratify and confirm any

request for proposals, invitation for sealed bids, plans, specifications

and notices heretofore or hereafter published by the city with respect

to any proposed project, and the contracting agency may adopt, utilize,

accept and confirm any bids or proposals submitted to the city and

heretofore or hereafter received and publicly opened by the city. The

provisions of this section shall supersede any inconsistent provisions

of the general municipal law, any other general, special or local law,

or the charter of the city.