2702 AMH CL CORD 1

HB 2702 ‑ H COMM AMD ADOPTED 2-12-94

By Committee on Commerce & Labor                    

     On page 3, line 4, after "body." insert "The public body shall accept a bond meeting these requirements unless the public body can demonstrate good cause for refusing to accept it."

EFFECT:  The amendment adds a requirement that the public entity awarding the public works contract must accept a bond in lieu of retainage, unless the public entity can demonstrate good cause for refusing to accept the bond.