N.Y. Public Authorities Law § 1360: Contracts; manner of letting

§ 1360. Contracts; manner of letting. Where the expense of the

construction of a project, or a part thereof, or an addition, betterment

or extension to the port facilities or industrial projects, or the

purchase of materials, supplies and equipment involves an expense

exceeding two thousand dollars, the authority shall advertise for bids

and shall award the contract to the lowest responsible bidder fully

complying with the plans and specifications. Such advertisement shall be

published once, not less than one week prior to the date fixed for the

opening of bids, in one newspaper having a general circulation in the

city of Oswego. The authority may make rules and regulations for the

submission of bids and award of contract thereon and may provide in such

rules and regulations that no performance, bond or undertaking need be

furnished by the contractor for the purchase of materials, supplies and

equipment in an amount not exceeding two thousand dollars. No contract

shall be entered into for the construction of a project, or a part

thereof, or for an addition, betterment or extension to the facilities

or for the purchase of materials, supplies and equipment in an amount

exceeding two thousand dollars unless the contractor shall give an

undertaking with a sufficient surety or sureties approved by the

authority and in the amount fixed by the authority for the faithful

performance of the contract. As to a contract entered into for the

construction, the undertaking shall provide, among other things, that

the person or corporation entering into such a contract will pay for all

materials furnished and services rendered in the performance of the

contract and that a person or corporation furnishing such materials or

rendering such services may maintain an action to recover for the same

against the obligor in the undertaking as though such person or

corporation were named therein, provided the action is brought within

one year after the time the cause of action accrued. In case of public

emergency involving accident or other damage by which the port

facilities, or any part thereof, shall become disabled, the authority

may cause all necessary repairs thereto to be made without

advertisement, bidding and the letting of a formal contract therefor.