169.03 OPENING THE BIDS; BID DEPOSIT OR BOND.

   Every advertisement for bids or proposals for public work or improvement involving an expenditure of fifty thousand dollars ($50,000) or more shall specify the time and place where the bids will be received and the day when the same will be opened. At the time of day specified in such advertisement, the City Manager shall in his office or other designated room in the City Building, publicly open and read all such bids and proposals. No bid shall be entertained or accepted unless it is signed with the full name of the bidder, and unless it contains the full name of every person or company interested in it, and unless it is accompanied by the deposit of the cashier's check or a certified check on a solvent bank, or a bid bond with good and sufficient surety, as a guarantee that if the bid or proposal is accepted by the City a contract will be entered into and its performance properly secured by such bidder. The amount of such deposit or bid bond shall be fixed by the City Manager as an item of the specifications of the work. Bid deposits or bid bonds for bids involving an expenditure of less than fifty thousand dollars ($50,000) may be waived at the request of the director of the department concerned or the Purchasing Agent.

(Ord. 2013-9-79. Passed 9-25-13.)