Legal Documents of Mountain City

When deemed necessary, bid bonds may be prescribed and noted in the public notices of sealed competitive bids. The bond shall be in such amount as the purchasing agent shall determine and not more or less than any bid bond amount as may be prescribed by Tennessee Code Annotated. The unsuccessful bidders shall be entitled to a return of such bond within ten (10) calendar days of the bid opening. A successful bidder shall forfeit any required bond upon failure on his/her part to enter a contract within ten (10) days after the notice of award. (Ord. #1821, June 2023)