Junior High Long Jump Runway Improvements Estimated budget for the project: $269,168 Estimated project completion date : 90 days All proposals must be accompanied by a cashier's check drawn upon a national or state bank in the amount of five percent (5%) of the proposal, payable without recourse to the District or a bid bond in the same amount from a reliable surety company, as a guarantee that Proposer will enter into a contract and execute a performance bond within ten (10) days after Notice of Award. The bid security must be enclosed in the envelope with the proposal. Proposals without cashier's check or bid bond may be considered non-responsive and excluded from consideration The Texas Government Code requires a Performance Bond for any contract that is in excess of $100,000.00 and a Payment Bond for any contract that is in excess of $25,000.00. A Payment and Performance bond, each in the amount of one hundred percent (100%) of the contract price, will be required of the successful proposer, conditioned on the faithful performance of the contract, payment of all persons supplying labor or furnishing materials, and payment of all liabilities incurred in connection with the work of this contract. The successful proposer must execute each such bond in compliance with State law The District reserves the right to reject any and all proposals, to waive irregularities, formalities, to require financial statements and references, and to accept the proposal that will provide the best value to the District. The District will rank and evaluate the proposal not later than 45 days after the date on which the proposals are opened. Proposals may be held by the District for up to ninety (90) calendar days from the date of the opening of proposals.
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