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-(1) A performance bond in the sum of the contract amount <br /> conditioned upon the faithful performance of the contract in <br /> strict conformity with the plans, specifications and conditions <br /> of the contract. <br /> <br /> (2) A payment bond in the sum of the contract amount. <br /> Such bond shall be for the protection of claimants who have <br /> fulfilled contracts to supply labor or materials to the prime <br /> contractor to whom the contract was awarW, ed, or to any sub- <br /> contractors, in the prosecution of the work provided for in <br /> such contract, and shall be conditioned upon the prompt payment <br /> for all such material furnished or labor .supplied or performed <br /> in the prosecution of the work. "Labor or materials" shall in- <br /> clude public utility services and reasonable'rentals of equip- <br /> ment, but only for periods when the equipment rented is actually <br /> used at the site. <br /> <br />Each such bonds shall be executed by one or more surety <br />companies selected by the contractor which are legally authorized <br />.to do business in Virginia° Such bonds shall be payable to the <br /> City of Portsmouth. <br /> <br /> Such bonds may be required for construction ~ontracts of <br /> One Hundred Thousand Dollars ($100,000), or less~ in the dis- <br /> cretion of the purchasing agent. <br /> <br /> Nothing in this section shall preclude such contractor <br /> from requiring each subcontractor to furnish a payment bond <br /> with surety thereon in the sum of the'full amount of the con- <br /> tract with such subcontractor conditioned upon the payment to <br /> all persons who have and fulfill contracts which are directly <br /> with the subcontractor for performing labor and furnishing <br /> materials in the prosecution of the work provided for in the <br /> subcontract° <br /> <br /> (4) That Section 11-128 of the. Code of the City of Ports- <br /> mouth, Virginia, 1973, be amended to read as follows: <br /> <br /> Section 11-128. Contracting for professional services by <br /> competitive negotiation. <br /> <br /> Professional services shall be procured by competitive <br /> negotiation when the cost of the professional service is expected <br /> to exceed Twenty Thousand Dollars ($20,000). The purchasing agent <br /> and representative of the using agency shall engage in individual <br /> discussions with two (2) or more offerors deemed fully qualified, <br /> responsible, and suitable on the basis of initial responses with <br /> emphasis pn professional competence, to provide the required <br /> services. Repetitive informal interviews shall be permissible. <br /> Such offerors shall be encouraged to elaborate on theii quali- <br /> fications and performance data or staff expertise pertinent to <br /> the proposed project as well as alternative concepts° At the <br /> <br />2 <br /> <br /> <br />