61-08-13. Opening bids for bond issues - Record of bids kept - Bids accompanied by check

61-08-13. Opening bids for bond issues - Record of bids kept - Bids accompanied by check. At the time specified for opening the bids for bonds, the secretary of the board publicly shall open the bids in the presence of the board, and after the bids have been opened, the secretary shall enter in a permanent record the amount and rate of interest of each bid and the name and address of the bidder. Each bid must be accompanied by a certified check, cashier's check, surety bond, or bank draft in the amount of not less than one percent of the bid.