[HISTORY: Adopted by the Town Council of the Town of Smithfield 6-13-1976 (Sec. 2-1 of the 1985 Code of Ordinances). Amendments noted where applicable.]
Purchasing policy — See Ch. 81.
Whenever the Town shall enter into a contract for the performance of services and the contract price in any one fiscal year shall be at a cost to the Town in excess of $1,000, any and all bidders shall be required to post a bid bond with a duly authorized bonding company for a value commensurate with the value of the contract price to assure that the bidder will be awarded a commensurate performance bond.
Editor's Note: State law reference - Power of Town to make contracts, G.L. 1956, § 45-2-4.