PER CURIAM.
This appeal raises a question of first impression for Michigan.
In 1974, defendant American Insurance Company executed a performance bond and a labor and material payment bond for Burger Masonry and General Construction, Inc., a construction company that had contracted to construct a recreational facility for the Hancock Public Schools. MCLA 129.201; MSA 5.2321(1) requires these bonds when a public entity enters into a construction contract exceeding...
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