Construction of Cottonwood Creek and West Fork of Cottonwood Creek regional detention facilities. The project consists of excavation of approximately 12 feet deep ponds within the 9.2-acre Cottonwood Creek and 5.9-acre West Fork of Cottonwood Creek easements, installation of stormwater culverts, and associated improvements. Approximately 196,000 cubic yards of material is estimated to be excavated and hauled off. Bids shall be accompanied by a certified or cashier's check on a state or national bank in an amount not less than five percent (5%) of the possible total of the bid submitted, payable without recourse to the City of Richardson, Texas, or an acceptable bid bond for the same amount from a reliable surety company as a guarantee that the bidder will enter into a contract and execute required Performance and Payment Bonds within ten (10) days after notice of award of the contract. The successful contractor must furnish a Performance Bond upon the form provided in the amount of one hundred percent (100%) of the contract price, a material and labor Payment Bond upon the form provided in the amount of one hundred percent (100%) of the contract price, and a Maintenance Bond upon the form provided in the amount of one hundred percent (100%) of the contract price, from a surety authorized under the laws of the State of Texas to act as a surety on bonds for principals within ten (10) days after the notice of award of the contract. The right is reserved, as the interest of the Owner may require, to reject any and all bids, to waive any informality in the bids received, and to select the bid best suited to the Owner's best interest. The successful contractor must have completed a minimum of three similar projects within the last five years. The construction is expected to take 180 calendar days
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