For Plant 1 Water Distribution System Improvements 8 Water Main Along Tryon Road From North of Loop 281 to South of Hawkins Parkway The project consists of the installation of the following items, with pipe, fittings, valves, and fire hydrants furnished by Owner: 1) approximately 2,360 linear feet of 8-inch diameter water main, 2) water main valves, fittings, and appurtenances, and 4) associated work.
Proposals shall be accompanied by either a Bid Bond from a surety satisfying the requirements specified below for the Performance Bond and Payment Bond, or certified check; upon a national or state bank in an amount not less than 5 percent (5%) of the total maximum bid price, payable without recourse to the Tryon Road Special Utility District as a guarantee that the bidder will within ten (10) days after notice of award enter into a Contract and furnish a Performance Bond, Payment Bond and Maintenance Bond upon the forms provided, each in the amount of 100 percent (100%) of the Contract price, from a surety licensed to conduct business in the state where the project is located and named in the current list of Surety Companies Acceptable on Federal Bonds as published in Circular 570 (amended) by the Audit Staff Bureau of Accounts, U.S. Treasury Department. The Surety shall have an A minimum rating of performance and a financial rating strength of five times the contract price, all as stated in current Best s Key Rating Guide, Property-Liability. Each Bond shall be accompanied by a Power of Attorney authorizing the attorney-in-fact to bind the surety, and shall be certified to include the date of the Bond. The Tryon Road Special Utility District reserves the right to reject any or all bids and accept or reject any informalities. Unless all bids are rejected, award shall be made to lowest, responsive bidder. No bid may be withdrawn until expiration of sixty (60) days from the date bids are opened.
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