§ 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.