Renovation of a residential development in Opelousas, Louisiana. Completed plans call for the renovation of a residential development.

All bids must be accompanied by bid security equal to five percent (5%) of the sum of the base bid and all alternates, if any, and must be in the form of a certified check, cashier's check or Bid Bond Form written by a surety company licensed to do business in Louisiana, signed by the surety's agency or attorney-in-fact. Surety must be listed on the current U.S. Department of the Treasury Financial Management Service list of approved bonding companies as approved for an amount equal to or greater than the amount for which it obligates itself in the Bond, or must be a Louisiana domiciled insurance company with at least an A rating in the latest printing of the A.M. Best's Key Rating Guide. If surety qualifies by virtue of its Best's listing, the amount of the Bond may not exceed ten percent of policyholders' surplus as shown in the latest A.M. Best's Key Rating Guide. The Bid Bond shall be in favor of Opelousas Housing Authority, and shall be accompanied by appropriate power of attorney. No Bid Bond indicating an obligation of less than five percent (5%) by any method is acceptable. The successful Bidder shall be required to furnish a Performance and Payment Bond written by a company licensed to do business in Louisiana, in an amount equal to 100% of the Contract amount. Surety must be listed currently on the U. S. Department of Treasury Financial Management Service List (Treasury List) as approved for an amount equal to or greater than the contract amount or must be an insurance company domiciled in Louisiana or owned by Louisiana residents. If surety is qualified other than by listing on the Treasury list, the contract amount may not exceed fifteen percent of policyholders' surplus as shown by surety's most recent financial statements filed with the Louisiana Department of Insurance and may not exceed the amount of $500,000. However, a Louisiana domiciled insurance company with at least an A- rating in the latest printing of the A. M. Best's Key Rating Guide shall not be subject to the $500,000 limitation, provided that the contract amount does not exceed ten percent of policyholders' surplus as shown in the latest A. M. Best's Key Rating Guide nor fifteen percent of policyholders' surplus as shown by surety's most recent financial statements filed with the Louisiana Department of Insurance. The Owner reserves the right to reject any and all bids for just cause. In accordance with La. R.S. 38:2212 (A) (1)(b), the provisions and requirements of this Section, those stated in the advertisement bids, and those required on the bid form shall not be considered as informalities and shall not be waived by any public entity. The Bond shall be signed by the surety's agent or attorney-in-fact. It is further understood and agreed that the work under this contract shall be completed within a two hundred seventy (270) calendar day period from the Date of Notice to Procced, subject to reimbursement to the Owner of liquidated damages in the amount of Two hundred dollars ($200.00) per consecutive day. Contract, if awarded, will be on a lump sum basis and if over $50,000 shall be issued only to a Bidder licensed under the provisions of the Contractor's Licensing Law of the State of Louisiana for the classification of Building Construction. No Bidder may withdraw his proposal for at least forty-five (45) days after the time scheduled for the opening of bids, except under the provisions of LA R.S. 38:2214. Each proposal shall be submitted only on the Contractor's Bid Form included in the Contract Documents.