In addition to those matters set forth in Section 19.57 of this Code, a resolution subject to the approval of the California State Lands Commission shall specify:
(a) That in the event that several individuals wish to submit a joint bid for the property, the bid shall contain the names of all such persons, firms or corporations interested in the bid;
(b) That all bidders shall submit a financial statement or other acceptable evidence of financial responsibility;
(c) That all successful bidders shall be required to post a faithful performance bond in an amount determined to be adequate in the opinion of the Governing Body; and
(d) That the Governing Body shall reserve the right to reject any and all bids and the right to waive any informality in the bid when to do so will be to the advantage of the City or its taxpayers.
SECTION HISTORY
Based on Ord. No. 114,262.
Amended by: In Entirety, Ord. No. 185,205, Eff. 11-22-17.