For the Term Contract for Annual Full Depth Reclamation and Asphalt Overlays The project consists of Term Contract for Annual Full Depth Reclamation and Asphalt Overlays within the City of Olive Branch MS. For any questions relating to the electronic bidding process, please call at 225-810-4814. Each envelope must be plainly marked on the outside as "2022 Term Contract for Annual Full Depth Reclamation and Asphalt Overlays" and must bear on the outside the date the bid is to be opened. Opened bids will be presented for consideration at a regular meeting of the Mayor and Board of Aldermen of the City of Olive Branch. Each bid shall be accompanied by a Bidder's Bond issued by a Surety Company licensed to operate in the State of Mississippi, in the amount of 5% of the total bid price, as a guarantee that if the bid is accepted, the Bidder will enter into a contract and execute the Performance and Payment bonds in the form and within the time specified. The successful Bidder will be required to execute a Performance Bond and a Payment Bond, each in the amount of 100% of the Contract, issued by a Surety Company licensed to operate in the State of Mississippi and shall be named in the current list of "Companies Holding Certificates of Authority as Acceptable Sureties on Federal Bonds and as Acceptable Reinsuring Companies" as published in Circular 570 (amended) by the Audit Staff Bureau of Accounts, U.S. Treasury Department. Each Bidder shall have a Certificate of Responsibility to bid on contracts for public projects in which the bid price exceeds $50,000.00 and for private projects in which the bid price exceeds $100,000.00 as required by the laws of the State of Mississippi. Each Bidder shall show on the outside of the envelope containing his bid: his current certificate of responsibility number and expiration date or if applicable, a statement certifying that the bid enclosed does not exceed $50,000.00 for a public project or $100,000.00 for a private project. Failure to show these items on the outside of the envelope containing the bid will result in the bid being returned to Bidder unopened. No Bidder may withdraw his bid for a period of sixty (60) days after date of actual bid opening, without the Owner's consent. The City of Olive Branch reserves the right to reject any or all bids in whole or in part, with or without cause; and to accept the lowest bid which in its judgment will be for the best interest of the City of Olive Branch. This Contract shall be for an initial period of one (1) year with an option to renew the contract for periods up to four additional years should the owner wish to do so.
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