Nebraska Revised Statute 14-365

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Chapter 14

14-365.

Public contractors; bonds required.

All persons who contract with a city of the metropolitan class for work to be done, or material or supplies to be furnished, shall give bond to the city, with not less than two sureties in an amount not less than fifty percent of the amount of the contract price, for the faithful performance of such work. The sureties on the bonds shall be resident property owners of the county within which the city is located and shall certify under oath that they are worth double the amount for which they may sign the bond, over and above all debts, liabilities, obligations, and exemptions. The city council may also accept security from one or more reliable sureties or guaranty companies for the same amount.

Source

  • Laws 1921, c. 116, art. III, § 56, p. 456;
  • C.S.1922, § 3609;
  • C.S.1929, § 14-357;
  • R.S.1943, § 14-365;
  • Laws 2022, LB800, § 66.

Annotations

  • Right to recover on bond does not depend upon questions of negligence of city or contractor, but under terms of bond, upon whether city has suffered a damage because of excavations made by contractor. Omaha Gas Co. v. City of South Omaha, 71 Neb. 115, 98 N.W. 437 (1904).