A bid bond, payable without condition to the Village of Dolton in an amount not less than five percent (5%) of the bid shall be submitted with each proposal, as a guarantee that, if the proposal is accepted, a contract will be entered into and the performance of the contract is properly secured. A performance bond in a sum equal to one hundred percent (100%) of the amount of the bid, with sureties to be approved by the Mayor and Board of Trustees for the faithful performance of the contract must be furnished by the successful bidder. All bids or proposals shall contain an offer to furnish bond upon acceptance of such bid or proposal. The Contractor will be required to pay not less than the prevailing wage rates on this project as established by the United States Department of Labor and the Davis Bacon Act. The contractor shall also comply with all applicable Federal, State and local regulations. The right is reserved to reject any or all proposals, to waive technicalities, to postpone the bid opening, or to advertise for new proposals, if in the judgment of the Mayor and Board of Trustees their best interests will be promoted thereby. Bidder qualifications and experience will also be included in the basis for determining the lowest responsible bidder. Prequalification will be required to be submitted to the Engineer by all potential bidders. If in the opinion of the Engineer and the Mayor and Board of Trustees, an applicant would not be able to serve the best interest of the Village, a proposal will not be issued to the applicant. The Contractor shall have sufficient experience and shall demonstrate they have completed at least three (3) municipal water main type projects that had service line replacements in the project in Illinois or Indiana municipality in the last five (5) years, of which the water main and service work was at least $1,000,000 of the contract value. "Any contract or contracts awarded under this invitation for bids are expected to be funded in part by a loan from the Illinois Environmental Protection Agency (Illinois EPA). Neither the State of Illinois nor any of its departments, agencies, or employees is or will be a party to this invitation for bids or any resulting contract. The procurement will be subject to regulations contained in the Procedures for Issuing Loans from the Public Water Supply Loan Program (35IAC Part 662), the Davis-Bacon Act (40 USC 276a through 276a-5) as defined by the United States Department of Labor, the Employment of Illinois Workers on Public Works Act (30 ILCS 570), Illinois Works Jobs Program Act (30 ILCS 559/20-1), and the federal "Build America, Buy America Act" requirements contained in the Infrastructure Investment and Jobs Act, Pub. L. No. 117-58
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