The Miller Act mandates performance bonds for public projects valued at more than what amount?

The Miller Act requires performance bonds for public construction projects that exceed a specified monetary threshold to ensure that contractors are held accountable for completing their work as agreed. The correct threshold, as established by the Act, is $100,000. This requirement is in place to protect the interests of the government and taxpayers, ensuring that there is financial security for the completion of public projects. If a contractor fails to fulfill their obligations, the performance bond can be claimed to cover the costs of hiring another contractor to complete the work or any financial losses incurred due to incomplete work.

The values provided in the other options are lower than the threshold stated in the Miller Act, making them incorrect in this context, as they do not align with the legal requirement for public projects. This ensures that substantial projects are adequately secured and that the interests of public stakeholders are protected.