Every contract for construction work, whether for alterations, repairs, or original construction, the estimated cost of which amounts to two thousand ($2,000) dollars or more shall be accompanied by a suitable bond for the performance of the same, or by deposit of money or security to the amount of the estimated cost.
No bill, contract, or lease shall be split or divided for the purpose of evading any provision of this chapter.
A. 
No board, committee, commission, or officer having charge of any work or services, the payment for which is in any part to be contributed by private persons, shall perform such work or services until a sum has been deposited with the Town Treasurer based upon estimates made in writing by the committee or officer in charge sufficient to cover the payment of that portion of work or services chargeable to such private persons. The Town Treasurer shall issue a receipt for the amount deposited which shall be presented to the committee or officer in charge before such work or services may begin.
B. 
This by-law may be waived when the nature of the work or service makes advance payment impossible, such as emergency services, including ambulance service and emergency water repairs, or for a continuing service such as water supply.