The Board of Education shall meet at the time and place specified in the advertisement and publicly open and read all received proposals. If satisfactory bids are received, the Board of Education shall award the contract to the lowest responsible bidder. Utah Code § 53E-3-703(3) (2018) Rejection of all bids If none of the proposals are satisfactory, all shall be rejected and the Board of Education shall again advertise in the manner provided in this policy. If, after advertising a second time no satisfactory bid is received, the Board of Education may proceed under its own direction with the required project. Utah Code § 53E-3-703(3) (2018) Required security The check or bond required to be submitted with the bid shall be drawn in favor of the Board of Education. If the successful bidder fails or refuses to enter into the contract and furnish the additional bonds required under this section, then the bidder’s check or bond is forfeited to the District. The District shall require payment and performance bonds of the successful bidder as required in Section 1.1022. The District may require in the proposed contract that up to 5% of the contract price be withheld until the project is completed and accepted by the Board of Education. If money is withheld, it will be placed in an interest bearing account with the interest accruing for the benefit of the contractor and subcontractors. This money shall be paid upon completion of the project and acceptance by the District. Utah Code § 53E-3-703(4)-(6) (2018) 1.1021.03 PROHIBITION OF BOARD MEMBER INTEREST IN SCHOOL CONSTRUCTION Issue Date: 5/8/14 CCA Board members may not have a direct or indirect financial interest in the construction project contract. Utah Code § 53E-3-703(9) (2018)
1.1022 CONSTRUCTION BONDS AND SECURITY
1.1022.01 BID SECURITY REQUIREMENTS Issue Date: 5/8/14 Updated: 01/03/19 CCB
Bid security in an amount equal to at least 5% of the amount of the bid shall be required for all competitive bidding for construction contracts estimated to exceed $50,000. The Procurement
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