Illinois General Assembly - Illinois Compiled Statutes

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65 ILCS 5/11-74.2-11

(65 ILCS 5/11-74.2-11) (from Ch. 24, par. 11-74.2-11)

Sec. 11-74.2-11.

In carrying out the provisions of a final redevelopment
plan the corporate authorities may pave and improve streets in the
redevelopment area, construct sidewalks and install or relocate sewers,
water pipes and other similar facilities. The corporate authorities shall
advertise for sealed bids for doing such work. The advertisement shall
describe the nature of the work to be performed and the time when and place
where sealed bids for the work may be delivered to the corporate
authorities. The advertisement shall be published once in a newspaper
having a general circulation in the municipality at least 20 days prior to
the date for receiving bids. A contract for doing the work shall be let to
the lowest responsible bidder, but the corporate authorities may reject any
and all bids received and readvertise for bids. The contractor shall enter
into bond in an amount equal to 1/3 of the amount of his bid conditioned
for the faithful performance of the contract. The sureties on such bond and
on the bond given pursuant to Section 11-74.2-10 shall be approved by the
corporate authorities.

(Source: Laws 1967, p. 3213.)