(a) Except as provided in subsections (b) and (c), the board shall award the contract and shall provide the successful bidder with written notice to proceed within sixty (60) days after the date on which bids are opened.(b) If general obligation bonds are to be sold to finance the construction that is the subject of the bid, the board shall allow the bidder ninety (90) days.(c) If revenue bonds are to be issued, when approved by the utility regulatory commission, or if special taxing district, special benefit, or revenue bonds are to be issued and sold to finance the construction, the board shall allow the bidder one hundred fifty (150) days.(d) A failure to award and execute the contract and to issue notice within the time required by this section entitles the successful bidder to:(1) reject the contract and withdraw the successful bidder's bid without prejudice; or(2) extend the time to award the contract and provide notice to proceed at an agreed later date.If the successful bidder elects to reject the contract and withdraw the bidder's bid, notice of that election must be given to the board in writing within fifteen (15) days of the sixty (60) day expiration date or ful bidder elects to reject the contract and withdraw the bidder's bid, notice of that election must be given to the board in writing within fifteen (15) days of the sixty (60) day expiration date or any other extension date.[Pre-Local Government Recodification Citations: 5-16-1 part; Part new.]As added by Acts 1981, P.L.57, SEC.38. Amended by P.L.23-1988, SEC.116; P.L.127-2017, SEC.16.
Indiana Legal Code