- Contractor's bonds. A. After the expiration of the time for filing protests against the proposed improvement, or if insufficient protests have been filed, the municipal governing body shall adopt a resolution declaring that no protests have been filed, or if protests have been filed, that the protests were insufficient, and expressing the determination of the governing body to proceed with the improvement. The resolution shall require the engineer to forthwith submit and file detailed plans, profiles, specifications and estimates of probable cost. B. After the engineer has filed the detailed plans and estimates, the governing body shall examine them and, if found satisfactory, shall adopt and approve them by resolution, and order the improvement to be done. The resolution ordering the improvement shall: 1. State that the improvement will be constructed in accordance with the final detailed plans, specifications and profiles of the engineer; 2. Set forth any reasonable terms and conditions that the governing body shall deem proper to impose with reference to the letting of the contract and the provisions thereof; 3. Require the contractor to execute to the municipality a good and sufficient bond, in the amount stated in the resolution, conditioned for the full and faithful execution of the work and the performance of the contract for the protection of the municipality and all property owners interested, against any loss or damage by reason of the negligence of the contractor, or improper execution of the work, or for the use of inferior material; 4. Require the contractor to execute a bond, in the amount stated in the resolution, for the maintenance of the improvements against any failure due to defective workmanship or materials for a period of not less than one (1) year from the time of its completion and acceptance; 5. Require the execution of a good and sufficient bond to the State of Oklahoma for the payment of all labor and material used in the construction of the improvement in the full amount of the contract price therefor; and 6. Direct the municipal clerk, after the filing of the final plans, profiles, specifications and estimates, to advertise for sealed proposals for furnishing the materials and performing the work necessary in making the improvement.
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