one year contract with a one year option, to be exercised in the sole discretion of the Water Authority of Western Nassau County, to perform water main installation services for the Water Authority of Western Nassau County.Each bid proposal must be accompanied by a Bid Deposit payable to the Water Authority of Western Nassau County by certified check, bank check or bid bond in the sum of Ten Thousand ($10,000.00) Dollars. Bids must be addressed to the Board of Directors, Water Authority of Western Nassau County, 1580 Union Turnpike, New Hyde Park, New York 11040, and submitted in a sealed envelope marked "Proposal - Water Mains No bid may be withdrawn after its acceptance or for a period of forty-five (45) days after being publicly opened and read. All bid deposits except that of the successful bidder will be returned upon award of the bid. The bid deposit for the successful bidder will be returned within ten (10) days of commencement of the Agreement. The Board of Directors of the Water Authority of Western Nassau County reserves the right to reject any and all bids in the whole or in part and to waive any informality in the bids and to accept the bid and award the Contract to the lowest, responsible, formal Bidder deemed most favorable to the interests of the Water Authority of Western Nassau County therefor, pursuant to Section 103 of the General Municipal Law. Upon acceptance of the bid, if the successful bidder fails to enter into a contract pursuant to the requirements of said Board of Directors, then at the sole option of the Water Authority the bid deposit shall be forfeited to the Water Authority of Western Nassau County as liquidated damages and not as a penalty, and the Water Authority shall retain all of its other remedies for damages provided by law.
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