IA Sac City Housing Development

Grading, utility installation, and paving of new subdivision Each bidder shall accompany its bid with bid security as defined in Iowa Code Section 26.8, as security that the successful bidder will enter into a contract for the work bid upon and will furnish after the award of contract a corporate surety bond, in a form acceptable to the Jurisdiction, for the faithful performance of the contract, in an amount equal to 100% of the amount of the contract. The bidder's security shall be in the amount fixed in the Instructions to Bidders and shall be in the form of a cashier's check or a certified check drawn on an FDIC insured bank in Iowa or on an FDIC insured bank chartered under the laws of the United States; or a certified share draft drawn on a credit union in Iowa or chartered under the laws of the United States; or a bid bond on the form provided in the contract documents with corporate surety satisfactory to the Jurisdiction. The bid shall contain no condition except as provided in the specifications. Each successful bidder will be required to furnish a corporate surety bond in an amount equal to 100% of its contract price. Said bond shall be issued by a responsible surety approved by the City of Sac City, Iowa and shall guarantee the faithful performance of the contract and the terms and conditions therein contained and shall guarantee the prompt payment of all material and labor, and protect and save harmless the City of Sac City, Iowa from claims and damages of any kind caused by the operations of the contract and shall also guarantee the maintenance of the improvement caused by failures in materials and construction for a period of one years from and after acceptance of the contract. The contractor shall fully complete the project within 60 working days. Should the contractor fail to complete the work in this timeframe, liquidated damages of $1,000.00 per working day will be assessed for work not completed within the designated contract term The City of Sac City, Iowa hereby reserves the right to reject any or all bids, to waive informalities, and to enter into such contract, or contracts, as it shall deem to be in the best interest of the Jurisdiction. Work on the improvement shall be commenced immediately upon approval of the contract by the City Council and be completed as stated below.

Division 32 -	Exterior Improvements, Operation and Maintenance of Exterior Improvements.
Division 33 -	Utilities, Instrumentation and Control for Utilities, Water Utilities, Water Utility Distribution Piping, Water Utility Distribution Equipment, Disinfecting of Water Utility Distribution, Water Utility Storage Tanks.
Division 34 -	Transportation, Operation and Maintenance of Transportation.