When the amount of the performance bond required under this article does not exceed $750,000.00, the governmental entity may, in its sole discretion, accept an irrevocable letter of credit by a bank or savings and loan association, as defined in Code Section 7-1-4, in the amount of and in lieu of the bond otherwise required under this article.
History. Code 1981, § 36-91-51 , enacted by Ga. L. 2000, p. 498, § 1; Code 1981, § 36-91-71 , as redesignated by Ga. L. 2001, p. 820, § 12; Ga. L. 2007, p. 209, § 2/HB 134.
Editor’s notes.
For application of this statute in 2020 and 2021, see Executive Orders 06.11.20.01, 06.29.20.02, 07.15.20.01, 07.31.20.02, 08.15.20.01, 08.31.20.02, 09.15.20.01, 09.30.20.02, 10.15.20.01, 10.30.20.02, 11.13.30.01, 11.30.20.01, 12.08.20.01, 12.30.20.02, 01.15.21.01, 01.29.21.02, 02.15.21.01, 02.26.21.02, 03.12.21.01, 03.31.21.03, 04.30.21.01, and 05.28.21.02.
A listing of Executive Orders issued in 2020 and 2021 can be found at https://gov.georgia.gov/executive-action/executive-orders.
Ga. L. 2001, p. 820, § 12, effective July 1, 2001, redesignated former Code Section 36-91-71 as present Code Section 36-91-91.
Law reviews.
For survey article on local government law, see 59 Mercer L. Rev. 285 (2007).