If the successful bidder fails to sign the contract or furnish the bonds required under authority of Code Section 32-4-119, his proposal guaranty, if one had been required by the municipality, will become the property of the municipality as liquidated damages. The contract then may be readvertised, or the project may be abandoned.
History. Code 1933, § 95A-842, enacted by Ga. L. 1973, p. 947, § 1.
Structure Georgia Code
Title 32 - Highways, Bridges, and Ferries
Chapter 4 - State, County, and Municipal Road Systems
Article 4 - Municipal Street Systems
Part 2 - Exercise by Municipalities of Power to Contract Generally
§ 32-4-110. “Contract” Defined
§ 32-4-112. Contracts With State Agencies and Adjoining Counties
§ 32-4-114. Required Letting of Contracts by Public Bid
§ 32-4-115. Advertising for Bids
§ 32-4-116. Payment by Bidder to Cover Costs
§ 32-4-117. Proposal Guaranty by Bidder
§ 32-4-118. Award of Contract to Lowest Reliable Bidder; Procedure Upon Rejection of Bids
§ 32-4-119. Bonds of Successful Bidder
§ 32-4-120. Failure to Take Bonds; Liability of Municipality
§ 32-4-121. Failure of Successful Bidder to Sign Contract or Furnish Bonds