Section 20688.25 Of Article 43.1. Redevelopment Agencies From California Public Contract Code >> Division 2. >> Part 3. >> Chapter 1. >> Article 43.1.
20688.25
. All bids for construction work shall be presented under
sealed cover and shall be accompanied by one of the following forms
of bidder's security:
(a) Cash.
(b) A cashier's check made payable to the local agency.
(c) A certified check made payable to the local agency.
(d) A bidder's bond executed by an admitted surety insurer, made
payable to the agency.
Upon an award to the lowest bidder, the security of an
unsuccessful bidder shall be returned in a reasonable period of time,
but in no event shall that security be held by the local agency
beyond 60 days from the time the award is made.