2006 New York Code - Contracts.

 
    §  2046-s.  Contracts.  All contracts or orders, for work, material or
  supplies performed or furnished in connection with  construction,  shall
  be  awarded  by  the agency pursuant to resolution of the governing body
  except as hereinafter provided. Such awards,  when  applicable,  may  be
  made   in   compliance  with  paragraph  (e)  of  subdivision  four  and
  subdivision seven  of  section  one  hundred  twenty-w  of  the  general
  municipal  law.  In  any construction contract, the agency may provide a
  program for the payment of damages for delays and  incentive  awards  in
  order  to  encourage  timely  project  completion.  An  action,  suit or
  proceeding contesting the validity of a  contract  awarded  pursuant  to
  this  section, or the validity of the procedures relating to such award,
  shall be governed by the provisions of subdivision six  of  section  one
  hundred   twenty-w   of   the   general   municipal  law  and  the  term
  "municipality" as used in such subdivision six shall mean the agency.
    The bidder whose bid is accepted shall give security for the  faithful
  performance  of  the contract, and such other security as the agency may
  require, and may be required to maintain any construction done under the
  contract for such period as shall  be  stipulated,  all  in  the  manner
  prescribed  and  required  by  the  agency  and  the sufficiency of such
  security shall, in addition to the justification and acknowledgment,  be
  approved  by  the agency. All bids or proposals shall be publicly opened
  by the governing body or its duly authorized agent. If the bidder  whose
  bid  or proposal has been accepted shall neglect or refuse to accept the
  contract within five days after written notice  that  the  contract  has
  been  awarded  to him on his bid or proposal, or, if he accepts but does
  not execute the contract and give proper security, the agency shall have
  the right to declare his security forfeited. In case any work  shall  be
  abandoned  by  any contractor, the agency may, if it determines that the
  public interest is thereby served, adopt on behalf of the agency any  or
  all  subcontracts  made  by  such  contractor for such work and all such
  subcontractors shall be bound by  such  adoption  if  made.  No  bid  or
  proposal  shall  be accepted from or any contract awarded to, any person
  or corporation which is in arrears to the agency or the  town  upon  any
  obligation  of  the  agency  or of the town. Every contract involving an
  expenditure of more than five thousand dollars  when  made  and  entered
  into  as herein provided for shall be executed in duplicate, one copy of
  which shall be held by the  agency  and  one  copy  of  which  shall  be
  delivered  to  the contractor. The agency may adopt, utilize, ratify and
  confirm any request for proposals, invitation for  sealed  bids,  plans,
  specifications and notices heretofore or hereafter published by the town
  with respect to any proposed project, and the agency may adopt, utilize,
  accept  and  confirm  any  bids  or  proposals submitted to the town and
  heretofore or hereafter received and publicly opened by  the  town.  The
  provisions  of  this section shall supersede any inconsistent provisions
  of the general municipal law, any other general, special or  local  law.
  The  agency  shall  be  deemed  an  authority for the purpose of section
  twenty-six hundred four of this chapter.