§ 36-91-71 - Acceptable substitutes for bond - Georgia Statutes

O.C.G.A. 36-91-71 (2010)
36-91-71. Acceptable substitutes for bond

When the amount of the performance bond required under this article does not exceed $750,000.00, the governmental entity may, in its sole discretion, accept an irrevocable letter of credit by a bank or savings and loan association, as defined in Code Section 7-1-4, in the amount of and in lieu of the bond otherwise required under this article.