Security of bids generally.

Omaha Municipal Code § 10-103

in effect

Sec. 10-103. - Security of bids generally. (a) All proposals or bids for all materials, parts, supplies, equipment, and contractual services in an amount of $50,000.00 or over, as a guarantee that the contracts will be entered into, must be accompanied by either a certified check, an official bank check, or cashier's check drawn on a national bank or a bank chartered under the laws of the state, payable to the city, or lawful money of the United States, or a United States government bond (negotiable), in an amount not less than five percent of the total of each bid or in the amount specified in the bid specifications, which shall be considered as liquidated damages and shall be forfeited to the city if said proposal or bid is accepted and the bidder fails to enter into the contract for which the proposal or bid was made. Nothing in this section shall prevent the bidder from filing a duly executed bid bond with a duly licensed corporate surety of the state with the city as obligee in the amount of five percent of the total of each bid or in the amount specified in the bid specifications conditioned for the faithful execution of the contract for which the proposal or bid was made. In addition, it shall be permissible for a bidder to place on file with the city clerk a duly executed bid bond for any or all purchases or contracts which may be bid during the applicable period. Said bond shall be in an amount of not less than five percent of the largest single total bid received during the period of applicability and shall be valid for not more than one year from date of issue. The city clerk shall keep a record of said bonds, which record shall be open to public inspection. (b) Bids or proposals for contracts which are required to be submitted electronically shall comply with the bid security requirements set forth above by submitting an electronic copy of said bid security in the sealed electronic bid or proposal package. Within seven calendar days of the date said bid or proposal is opened, the prospective bidder shall file with the city clerk the original bid security which was submitted in electronic form. Failure to submit the original bid security within seven calendar days of bid opening shall result in rejection of the bid. (Code 1980, § 10-103; Ord. No. 33564, § 2, 6-6-95; Ord. No. 34925, § 1, 6-22-99; Ord. No. 43185, § 1, 11-8-22; Ord. No. 44094, § 1, 12-17-24)

Source: City of Omaha, Municipal Code and City Charter (Municode Library, library.municode.com)URL: https://library.municode.com/ne/omaha/codes/code_of_ordinances?nodeId=PTIIMUCO_CH10FI_ARTIVBIPR_DIV1GE_S10-103SEBIGEFetched: 10/28/2026