Section 2049-Q. Contracts

1. 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 of  the  governing  body
  except  as  hereinafter provided. Such awards, when applicable, shall 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 authority 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 authority.
    2. 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 any  construction
  done  under  the contract for such period as shall be stipulated, all in
  the manner prescribed and required by the authority and the  sufficiency
  of   such   security   shall,  in  addition  to  the  justification  and
  acknowledgement, be approved by the authority.  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  after
  advertising  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 authority shall have the right to  declare
  his  deposit forfeited. In the event that any work shall be abandoned by
  any contractor the authority may,  if  it  determines  that  the  public
  interest  is thereby served, adopt on behalf of the authority 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 who is in arrears to the authority  or  the  town  upon  any
  obligation  of  the  authority  or  of the town. Every contract 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. The
  authority 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. The provisions of this  section  shall  supercede  any
  inconsistent  provisions  of  the  general  municipal  law, or any other
  general, special or local law.