573.5 Amount of bond. Said bond shall run to the public corporation. The amount thereof shall be fixed, and the bond approved, by the official board or officer empowered to let the contract, in an amountnot less than seventy-five percent of the contract price, and sufficient to comply with allrequirements of said contract and to insure the fulfillment of every condition, expressly orimpliedly embraced in said bond; except that in contracts where no part of the contract priceis paid until after the completion of the public improvement the amount of said bond may befixed at not less than twenty-five percent of the contract price. [C24, 27, 31, 35, 39, §10303; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §573.5] Sat Dec 23 11:08:03 2023 Iowa Code 2024, Section 573.5 (16, 0)
Iowa Legal Code