The governing body shall open, announce the amount of the bids, and file all proposals received, at the time and place specified in the notice to bidders. The governing body may, by resolution, award the contract for the public improvement to the bidder submitting the best bid, determined as provided in section 384.99, or it may reject all bids received, fix a new date for receiving bids, and order publication of a new notice to bidders. The bid security furnished by the successful bidder must be retained by the governing body until the approved contract form has been executed, and a bond filed by the bidder guaranteeing the performance of the contract, and the contract and bond, have been approved by the governing body. The provisions of chapter 573, where applicable, apply to contracts awarded under this division.
The checks or bidder's bonds of the unsuccessful bidder must be promptly returned to the bidders by the governing body as soon as the successful bidder is determined or within thirty days whichever is sooner.
[C97, § 813; S13, § 849-d; SS15, § 813; C24, 27, § 6005, 6086; C31, 35, § 6005, 6086, 6610-c48, 6610-c49; C39, § 6005, 6086, 6610.50, 6610.51; C46, § 391.32, 395.8, 417.51, 417.52; C50, § 391.32, 391A.14, 391A.15, 395.8, 417.51, 417.52; C54, § 391.32, 391A.17, 391A.19, 395.8, 417.51, 417.52; C58, 62, 66, 71, 73, § 386B.9, 391.32, 391A.17, 391A.19, 395.8, 417.51, 417.52; C75, 77, 79, 81, § 384.100]
Referred to in § 331.341, 357A.12, 384.103, 390.3
Iowa General Assembly
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