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CL <br />ITY OF OUISVILLE <br />PP <br />URCHASING OLICIES <br />price if the bid is over $150,000 and at least 5% of the vendors bid <br />$150,000. <br /> A performance bond, satisfactory to the City, may be <br />PERFORMANCE BONDS: <br />required for any contract and will be used for all contracts for public buildings, <br />works or improvements awarded in excess of $50,000 per state statute. The <br />performance bond shall be in amount equal to one hundred percent <br />the price specified in the contract, or any other higher amount <br />the purchasing department to be in the best interest of the City. <br /> A payment bond for the protection of all persons supplying <br />PAYMENT BONDS: <br />labor and material to the contractor or its subcontractors may b <br />contracts awarded in excess of $50,000. The payment bond shall be in an <br />amount equal to one hundred percent (100%) of the price specifie <br />contract, or any other higher amount determined by the purchasingdepartment <br />to be in the best interest of the City. <br /> <br />INSURANCE REQUIREMENT <br />All contractors are required to provide certificates of insurance with the City named as <br />additional insured, for the following insurance coverages and amounts (except as <br />waived by the City Manager): <br />Comprehensive General Liability <br />$1,000,000 each occurrence <br />$2,000,000 general aggregate <br />Automobile Liability <br />$150,000 combined single limit  bodily injury & property damage/per <br />person <br />$600,000 combined single limit  bodily injury & property damage/two or <br />more persons in any one occurrence <br />$50,000 auto physical damage <br />Workers Compensation <br />Statutory limits <br />Employers Liability Insurance <br />$100,000/ each accident <br />$500,000/ disease - policy limit <br />$100,000/ disease -each employee <br />Professional Liability (for licensed professional services) <br /> 15 <br />