Construction contractors doing business with the school district shall be required to provide the district with such bonds or other acceptable securities as the law or the Board may require equal to the amount of the contract.
Such bonds shall be conditioned upon the faithful performance of the contract and also shall provide that if the contractor or his subcontractor fails to pay for labor, materials or other supplies used in performance of the work, the surety will pay for the same in an amount not exceeding the sum specified together with interest as provided by law.
The contractor shall provide all necessary appurtenances at the site to insure proper working conditions. Such appurtenances shall be located as to insure the safety and general welfare of the public and if at an occupied school site shall be so located as not to interfere with the operation of the school at that site. If a union contractor, all provisions of contracts with the union or unions shall be observed.
All construction contracts shall provide for retention of at least 10 percent of any progress or partial payments pending completion of the project or projects involved on such terms and conditions as approved by the Board and authorized by law. The contract figure may be adjusted up or down as change orders are approved. In some cases, the changes in contract price may reflect all change order at the conclusion of the job. Final payment shall not be made until publication of notice as required by law.
The contractor shall be responsible for all adjustments and corrections in any part of the new construction for one year following the final completion and acceptance of the project.
At the expiration of one year, the owner shall assume administration of any extended guarantees covering any part of the structure or equipment covered by the builder's contract.
Adopted September 5, 1967
Revised February 11, 1974
Revised to conform with practice: date of manual adoption
Adoption Date: September 05, 1967
Last Revised: February 11, 1974
| Legal References: | C.R.S. 24‑91‑102 through 24‑91‑110 (Construction Contracts with Public Entities) |
| C.R.S. 38‑26‑101 | |
| C.R.S. 38‑26‑105 | |
| C.R.S. 38‑26‑106 | |