(a)

(1) After the Building Authority Division of the Department of Finance and Administration has approved the plans and specifications prepared by the architect, it shall proceed to advertise for bids for the construction of the Arkansas Justice Building.

(2) The notice shall be published one (1) time each week for not less than three (3) consecutive weeks in one (1) or more newspapers of general circulation published in the City of Little Rock, and in such other newspapers and trade or construction journals as may, in the opinion of the division, be desirable.

(3) The notice shall provide for the receipt of sealed bids, shall set forth the time and place at which the bids will be received, shall give the name and address of the architect from whom copies of plans, specifications, and drafts of the proposed contract to be entered into with the successful bidder may be obtained, and shall contain any other information and requirements as, in the opinion of the division, may be necessary or desirable.

(b)

(1) On the date and time fixed in the notice, the division shall open, tabulate, and compare the bids and shall award the contract to the lowest responsible bidder.

(2) The division shall have the right to reject any or all bids.

(c) The successful bidder shall be required to furnish bonds to the State of Arkansas for the use and benefit of the division, with a corporate guaranty of indemnity sureties thereon. Bond shall be both for the completion of the construction free of all liens and encumbrances in an amount fixed by the division and for the protection of the division and its members against all liability for injury to person or damage to or loss of property arising or claimed to have arisen in the course of the construction, within limits fixed by the division.

(d) The Director of the Department of Finance and Administration shall execute all contracts awarded by the division.