Public works construction; performance bond not required if contract is less than $50,000.00 and paid in two equal installments.

An Act To Amend Section 31-5-51, Mississippi Code Of 1972, To Provide That A Performance Bond Is Not Required When A Contract For The Construction, Alteration Or Repair Of Any Public Building Or Public Work Is Less Than $50,000.00 And The Public Body Elects To Make Two Payments Valued At 50% Of The Contract Amount; And For Related Purposes.