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State of Florida. The bond shall remain in effect for at least thirty (30) days after final <br />completion. <br />(4) Security in lieu of payment and performance bonds. In lieu of the bond <br />required by this subparagraph (h) a contractor may file with the county an alternative form of <br />security in the form of cash, a money order, a certified check, a cashier's check, or an <br />irrevocable letter of credit. Any such alternative form of security shall be for the same purpose <br />and be subject to the same conditions as those applicable to the payment and performance <br />bonds required by this subparagraph (h). The determination of the value of an alternative <br />form of security shall be made by the county administrator. <br />(i)Waiver of bonds. At the time of award of contract, the county may waive the <br />requirement for payment and performance bonds and the cost of said bonds shall be <br />deducted from the contract price. <br />(j)Waiver of bidding procedures. The county commission may waive or modify the <br />bidding procedure on specific contracts. <br />*** <br />Section 3. Codification. It is the intention of the Board of County Commissioners that the <br />provision of this ordinance shall become and be made part of the Indian River County Code, <br />and that the sections of this ordinance may be renumbered or re -lettered and the word <br />ordinance may be changed to section, article or such other appropriate word or phrase in order <br />to accomplish such intention. <br />Section 4. Severability. If any part of this ordinance is held to be invalid or unconstitutional <br />by a court of competent jurisdiction, the remainder of this ordinance shall not be affected by <br />such holding and shall remain in full force and effect. <br />Section 5. Conflict. All ordinances or parts of ordinances in conflict herewith are hereby <br />repealed. <br />Section 6. Effective Date. This ordinance shall become effective upon adoption by the Board <br />of County Commissioners and filing with the Department of State. <br />This ordinance was advertised in the Indian River Press Journal on the 28th day of June, 2019, <br />for a public hearing to be held on the 9th day of July, 2019, at which time it was moved for <br />adoption by Commissioner , seconded by <br />Commissioner , and adopted by the following vote: <br />5 <br />131 <br />