Contractors' bonds

All contractors shall be required to give bond for the faithful performance of such contracts as may be awarded them, with good and sufficient securities, in an amount equal to the amount of the contract work. The board shall not remit or excuse the penalty or forfeiture of the bond or the breaches thereof. Acts 1927, No. 350, § 35; Pope's Dig., § 7434; A.S.A. 1947, § 20-535. All contractors shall be required to give bond for the faithful performance of such contracts as may be awarded them, with good and sufficient securities, in an amount equal to the amount of the contract work. The board shall not remit or excuse the penalty or forfeiture of the bond or the breaches thereof. Acts 1927, No. 350, § 35; Pope's Dig., § 7434; A.S.A. 1947, § 20-535.