Section 32-4-121. Failure of successful bidder to sign contract or furnish bonds

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If the successful bidder fails to sign the contract or furnish the bonds required under authority of Code Section 32-4-119, his proposal guaranty, if one had been required by the municipality, will become the property of the municipality as liquidated damages. The contract then may be readvertised, or the project may be abandoned.

Code 1933, § 95A-842, enacted by Ga. L. 1973, p. 947, § 1.

                    
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