§ 67.9. Surety performance, surety, and material bonds.
Within 10 days of the award of any contract exceeding $5,000, the following bonds shall be submitted:
(1) A surety performance bond at 100% of the contract amount.
(2) A labor and material bond including public utility services and reasonable rentals of equipment at 100% of the contract amount.
(3) A surety bond in the amount of 10% of the contract price as surety against defective or inferior materials or workmanship which may develop during the period of 1 year from the date of total completion and acceptance of all work under the contract.
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