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Terms Used In Tennessee Code 54-12-308

  • Contract: A legal written agreement that becomes binding when signed.

The board of directors shall award a contract or contracts for each section of the work to the lowest responsible bidder or bidders, or may award the contract as a whole to the lowest responsible bidder, exercising its own discretion as to the letting of the work as a whole or in sections, and reserving the right to reject any and all bids and readvertise the letting of the work.