Section 1088. Contracts

All  contracts, or orders, for work, material or
  supplies performed or furnished in connection with construction shall be
  awarded by the authority pursuant  to  resolution.  Such  contracts,  or
  orders, for work, material or supplies needed for any particular purpose
  involving  an  expenditure  of  more than five thousand dollars shall be
  awarded only after inviting  sealed  bids  or  proposals  therefor.  The
  notice  inviting  sealed proposals shall be published at least once in a
  newspaper or trade paper selected by the  authority  for  such  purpose,
  such publication to be at least ten days before the date for the receipt
  of  bids.  If  the  authority  shall not deem it for the interest of the
  authority to reject all bids, it shall award the contract to the  lowest
  bidder,  unless  the authority shall determine that it is for the public
  interest that a bid other than the lowest bid should be accepted. In any
  contract for work, material or supplies, there shall be inserted in  the
  discretion of the authority a provision that additional work may be done
  or  material  or  supplies  furnished for the purpose of completing such
  contract at an expense not exceeding fifteen per centum of the amount of
  such contract if such additional work, materials or  supplies  shall  be
  ordered  by  the  authority. The bidder whose bid is accepted shall give
  security for the faithful performance of the contract,  and  such  other
  security  as  the authority may require, and may be required to maintain
  for such period as shall be stipulated any construction done  under  the
  contract,  all  in  the manner prescribed and required by the authority;
  and  the  sufficiency  of  such  security  shall,  in  addition  to  the
  justification and acknowledgment, be approved by the authority. All bids
  or  proposals  shall  be  publicly  opened  by the authority or its duly
  authorized agent. If the  bidder  whose  bid  has  been  accepted  after
  advertising  shall  neglect or refuse to accept the contract within five
  days after written notice that the same 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 authority shall have the right to declare his
  deposit forfeited, and thereupon it shall be readvertised and  relet  as
  above  provided.  In case any work shall be abandoned by any contractor,
  the authority may, if the best interest  of  the  authority  be  thereby
  served,  adopt  on behalf of the authority any or all sub-contracts made
  by such contractor for such work and all such sub-contractors  shall  be
  bound  by  such  adoption if made; and the authority shall in the manner
  provided herein readvertise and relet the work specified in the original
  contract exclusive of so much thereof as shall be provided  for  in  the
  sub-contract  or sub-contracts so adopted. No bid shall be accepted from
  or any contracts awarded to, any person or corporation who is in arrears
  to the authority, or the county of Suffolk upon any debt or contract, or
  is a defaulter as  surety  or  otherwise  upon  any  obligation  of  the
  authority,  or  the  county.  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 authority and one copy of which shall be  delivered  to  the
  contractor. Upon the adoption of a resolution by a vote of two-thirds of
  all the members of the authority stating that, for reasons of efficiency
  or  economy, there is need for standardization, purchase contracts for a
  particular type or kind of equipment, material or supplies of more  than
  five  thousand  dollars  may  be  awarded by the authority to the lowest
  responsible bidder furnishing the required security after  advertisement
  for  sealed  bids  therefor in the manner provided in this section. Such
  resolution shall contain a full  explanation  of  the  reasons  for  its
  adoption.