Section 48-2986 - Award of contract; bond; letting of work without advertising for bidsA. At the time and place specified in the advertisement the board shall meet and consider the bids and shall within a reasonable time thereafter accept or reject all or any portion of any bid, or may reject all bids, and shall return deposits of unsuccessful bidders. The board may thereafter proceed to readvertise for such portions of the proposed project as to which no bid was accepted, or the board may proceed to perform the work so advertised under its own direction and supervision.B. The board shall enter into contracts according to the bids as accepted and shall require from each person with whom a contract is made such bond or bonds as required under title 34, chapter 2, article 2. Upon the bond being given and approved, prior deposits of the principal shall be returned.C. The work performed under any contract authorized and executed pursuant to this chapter shall be performed under the direction and to the satisfaction of the district engineer and by the terms of the contract shall be paid for in cash.D. Nothing contained in this chapter shall be construed to prohibit the district from letting any work required by it without first advertising for bids when the estimated cost of the work does not exceed thirty thousand dollars for construction, thirty thousand dollars for materials or thirty thousand dollars for services and the total amount of the contract does not exceed thirty thousand dollars or when an emergency exists as determined by the board of directors of the district.E. The dollar amounts prescribed in subsection D shall be deemed adjusted on July 1 each year based on the annual percentage change in the consumer price index for all urban consumers, United States city average, that is published by the United States department of labor, bureau of labor statistics, with July 1, 2010 as the base year for making that determination.