Minutes-8 /10/1983

At the hearing, the Council will receive and consider any objections made by any interested party, to the plans and specifications, proposed form of contract, and the estimate cost for the project. Payment of the cost of said project will be made in cash to be derived from the proceeds of the sale of general obligation bonds, which will be payable solely and only out of the future net earnings of the utility and/or from such other cash funds on hand as may be lawfully used for said purpose. Payment to the Contractor will be made in monthly estimates and one final payment. Monthly estimates will be equivalent to ninety-five percent (95%) of the contract value of the work completed during the preceding pay period. Final payment to the contractor will be made no earlier than thirty-one (31) days from and after the final acceptance of work by the Council, subject to the conditions and in accordance with the provisions of Chapter 573 of the Code of Iowa. The work under the contract for each section shall commence on or before the date specified in a written "Notice to Proceed" and shall be fully completed and ready for operation within 270 consecutive calendar days thereafter. By virtue of statutory authority, preference will be given to products and provisions grown and coal produced within the State of Iowa and to Iowa domestic labor to the extent lawfully required under Iowa statutes, providing that the award of the contract will be made to the lowest responsive responsible bidder, which shall be without regard to state or local law whereby preference is given on factors other that the amount of the bid. Contractors may bid on either alternate. No tied bids will be permitted. Bid forms, plans and specifications may be obtained from the Engineer. A deposit of $25.00 will be required for the plans and specifications, none of which will be refunded. Each successful Bidder will be required to furnish performance and payment bonds acceptable to the Council on forms provided in the specifications in amounts equal to one hundred percent (100%) of the contract price. The Council hereby reserves the right to reject any or all bids, to waive informalities and irregularities, and to enter into such contracts as it may deem to be for the best interests of the City. Published by order of the Council. City of Tiffin, Iowa By Glen Potter Mayor Attest: Adelia S. Kern Clerk