Each person submitting bids or proposals under section 374.13 shall file with the bid or proposal a certified check in an amount prescribed in the specifications of the commission for the building, to be retained as liquidated damages and divided equally between the city and county in case of failure to enter into a contract if it is awarded.

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Terms Used In Minnesota Statutes 374.14

  • Contract: A legal written agreement that becomes binding when signed.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Minnesota Statutes 645.44
  • state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44

All contracts shall be in writing and made in the name of the county and city and shall be executed in their behalf by the officers empowered by law or charter to execute the contracts. All persons awarded building contracts shall furnish bonds as required by state law relating to contracts for public improvements. The bonds shall run to the county and city.