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addition, notice maybe published in a newspaper of general circulation in the city Such <br />notice shall include a general description of the articles or services to be purchased, shall <br />state where bid informations or specifications may be obtained, and shall <br />state the time and place for opening bids. The purchasing administrator may also solicit <br />sealed bids from other~l responsible prospective suppliers who have requested bid <br />information <br />19. Section 12-245 of the Code of the City of Portsmouth, Virginia (2006) is amended <br />as follows: <br />Sec. 12-245. -Bid bonds~;~~ Construction contracts. <br />(a) Except in cases of emergency, all bids or proposals for construction contracts in <br />excess of $500,000.00, shall be accompanied by a bid bond from a surety company <br />selected by the bidder which is legally authorized to do business in the state as a <br />guarantee that if the contract is awarded to such bidder, that bidder will enter into the <br />contract for the work specified in the bid. The amount of the bid bond shall not <br />exceed five percent of the amount of the bid. Bid bonds may be required for <br />construction contracts of less than $500,000.00 min the discretion of the <br />purchasing administrator. <br />(b) No forfeiture under a bid bond shall exceed the lesser of the difference between the <br />bid for which the bond was written and the next low bid or the face amount of the <br />bid bond. <br />20. Section 12-246 of the Code of the City of Portsmouth, Virginia (2006) is amended <br />as follows: <br />Sec. 12-246. -Bid bonds-Other contracts. <br />(a) At the discretion of the purchasing administrator, bidders maybe required to submit <br />with their bid a bond, in an amount to be determined by the purchasing administrator <br />and specified in the invitation to bid, <br />€~f-Y-}SFff4~ 17flA-Y-1 tl... L-: ? .: l.~r. _ !`_°: i - - .. to fist-n ~ t ,..] ,. F <br />a r <br />17 ~2IC[~ 4• ~4~.. 4 4 .> > 4 1 <br />(b) The purchasing administrator may require successful bidders to furnish a <br />performance bond or a payment bond at the expense of the successful bidder, in <br />amounts to be determined by the purchasing administrator and specified in the <br />invitation to bid, to ensure the satisfactory completion of the work for which the <br />contract or purchase order is awarded. <br />16 <br />