2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 6 - Albany Municipal Water Finance Authority › 1115-V - Contracts.

§  1115-v. Contracts. 1. All contracts or orders for work, material or
  supplies performed or furnished in connection with construction shall be
  awarded  by  the  contracting  agency  pursuant  to  resolution  of  its
  governing body. Such awards shall be made in compliance with section one
  hundred  three  of  the  general  municipal  law.  In  any  construction
  contract, the contracting agency may provide a program for  the  payment
  of  damages for delays and incentive awards in order to encourage timely
  project  completion.  An  action,  suit  or  proceeding  contesting  the
  validity of a contract awarded pursuant to this section, or the validity
  of  the  procedures  relating  to  such  award, shall be governed by the
  provisions of section one hundred three of the general municipal law and
  the term "political subdivision" as defined in section  one  hundred  of
  the  general  municipal  law  shall be deemed to include the contracting
  agency for the purposes of such section one hundred three.
2. The bidder whose bid  is  accepted  shall  give  security  for  the
  faithful  performance  of  the  contract, and such other security as the
  contracting agency may require, and may  be  required  to  maintain  any
  construction  done  under  the  contract  for  such  period  as shall be
  stipulated, all in the manner prescribed and required by the contracting
  agency, and the sufficiency of such security shall, in addition  to  the
  justification  and  acknowledgement,  be  approved  by  the  contracting
  agency. All bids or proposals shall be publicly opened by the  governing
  body  or  its duly authorized agent. If the bidder whose bid or proposal
  has been accepted after advertising shall neglect or  refuse  to  accept
  the contract within five days after written notice that the contract has
  been  awarded  to  him on his bid or proposal, or if he accepts but does
  not execute the contract  and  give  proper  security,  the  contracting
  agency  shall  have  the right to declare his deposit forfeited. In case
  any work shall be abandoned by any contractor,  the  contracting  agency
  may,  if it determines that the public interest is thereby served, adopt
  on its own behalf any or all subcontracts made by  such  contractor  for
  such work and all such subcontractors shall be bound by such adoption if
  made. No bid or proposal shall be accepted from, or any contract awarded
  to,  any  person  or  corporation  who  is in arrears to the contracting
  agency or the city upon any obligation of the contracting agency  or  of
  the  city.    Every  contract involving an expenditure of more than five
  thousand dollars when made and entered into as herein provided for shall
  be executed in duplicate, one  copy  of  which  shall  be  held  by  the
  authority  and  one  copy of which shall be delivered to the contractor.
  The contracting agency  may  adopt,  utilize,  ratify  and  confirm  any
  request for proposals, invitation for sealed bids, plans, specifications
  and  notices  heretofore or hereafter published by the city with respect
  to any proposed project, and the contracting agency may adopt,  utilize,
  accept  and  confirm  any  bids  or  proposals submitted to the city and
  heretofore or hereafter received and publicly opened by  the  city.  The
  provisions  of  this section shall supersede any inconsistent provisions
  of the general municipal law, any other general, special or  local  law,
  or the charter of the city.