Board debates purchasing a ~$1,650 performance bond for Cold Storage Highway Building

At the start of new business, the chair read a motion to purchase a performance bond equal to approximately 3 percent of the Cold Storage Highway Building project cost. The chair said the project cost is roughly $55,000 and "the estimated cost of the performance bond would be approximately $1,650." Board members expressed concern about paying large deposits before work begins and discussed vendor references; they agreed to wait until the vendor arrives next week before deciding whether to buy the bond.