178.140 Awarding of contracts -- Rejection of bids. (1) All bids for the construction or maintenance of county roads and bridges shall be received at the time and place specified in the advertisement, and shall be opened publicly at the time of awarding, and the amount of items comprising each bid shall be publicly announced. (2) The contract shall be awarded to the lowest and best bidder, who shall furnish satisfactory security in an amount equal to the amount of the contract in question, to be approved by the county judge/executive of the county. (3) The fiscal court may reserve twenty percent (20%) of the amount accruing on the contract until the completion of the work and the approval thereof by the county road engineer. (4) The fiscal court may reject any and all bids, and may readvertise for and receive bids. If satisfactory bids cannot be obtained, the fiscal court may have the work done in the manner it deems best. Effective: October 1, 1942 History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 4303, 4304, 4356m.
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