If supplies or equipment are to be purchased, a school board advertising pursuant to § 13-20-3 may require a reasonable deposit guaranteeing the execution of contract and the furnishing of a performance bond by the successful bidder in accordance with chapters 5-18A and 5-21 . The board may accept an annual bond if the bid meets the requirements of chapters 5-18A and 5-21 . The board may reject any and all bids.
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