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(d) Nothing in this section shall preclude such a contractor from requiring each subcontractor to furnish a payment bond with surety thereon in the sum of the full amount of the contract with such subcontractor conditioned upon the payment to all persons who have and fulfill contracts which are directly with the subcontractor for performing labor and furnishing materials in the prosecution of the work provided for in the subcontract. (e) In lieu of a bid bond or performance or payment bond required by this section, the bidder or contractor may furnish a certified check, cashier's check or cash escrow. A bidder or contractor may provide a personal bond, property bond, or bank or savings and loan institution ~~~~~=~~=~~'~ letter of credit on certain decimated funds in the face amount required for the bid. payment bond or performance bond, subject to the approval of the city attorney. Approval shall be granted only upon a determination that the alternative form of security proffered affords protection to the city equivalent to a corporate surety's bond. 8. Subsections (a) and (c) of Section 12-186 of the Code of the City of Portsmouth, Virginia (2006) are amended as follows: Sec. 12-186. -Public access to procurement information. (a) Except as provided herein, all proceedings, records, contracts, and other public records relating to procurement transactions shall be open to the inspection of any citizen, or any interested person in accordance with the Virginia Freedom of Information Act (Code of Virginia, § 2.2-3700 et seq., as amended. restated or moved from time to time). Cost estimates relating to a proposed procurement transaction prepared by or for the city shall not be open to public inspection. (c) Any competitive negotiation bidder or offeror, upon request, shall be afforded the opportunity to inspect bid and proposal records within a reasonable time a$er the evaluation and negotiations of proposals are completed, but prior to award, except in the event that the city decides not to accept any of the bids or proposals and to reopen the contract. 9. Subsection (a) of Section 12-187 of the Code of the City of Portsmouth, Virginia (2006) is amended as follows: Sec. 12-187. -Prompt payment by city; notice of defects; late payment charges. 8