ORDINANCE NO. BL2009-482

An ordinance amending Section 4.20.030 of the Metropolitan Code of Laws pertaining to performance and payment bonds.

WHEREAS, Section 4.20.030(A) of the Metropolitan Code of Laws presently establishes the conditions and amounts for performance and payment bonds for construction contracts procured by the Metropolitan Government in excess of one thousand dollars; and

WHEREAS, the State of Tennessee requires the Metropolitan Government to require a payment and performance bond on a contract in excess of one hundred thousand dollars [T.C.A. § 12-4-201(a)]; and

WHEREAS, in order to increase participation in the procurement process and allow greater competition, the Procurement Standards Board has recommended that Section 4.20.030(A) of the Metropolitan Code be revised to require a performance and payment bond on a construction contract that is in excess of one hundred thousand dollars.

NOW, THEREFORE, BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

Section 1. That Section 4.20.030(A) of the Metropolitan Code of Laws is hereby amended by adding the word “hundred” after the word “one” and before the word “thousand.”

Section 2. That this ordinance shall take effect thirty days after its final passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored by: Sam Coleman, Eric Crafton, Jim Forkum, Walter Hunt, Vivian Wilhoite

LEGISLATIVE HISTORY
Introduced:	June 16, 2009
Passed First Reading:	June 16, 2009
Referred to:	Budget & Finance Committee
Passed Second Reading:	July 21, 2009
Passed Third Reading:	August 6, 2009
Approved:	August 10, 2009
By: