Calvin Street. Accompanying the bid of corporation or a partnership there shall be submitted a statement setting forth the name and address of all stockholders in the corporation or partnership who own 10% or more of its stock, of any class: or of all individual partners in the partnership who own a 10% or greater interest therein, as the case may be. If one or more such stockholders(s) or partner(s) is itself a corporation or partnership, the stockholders holding 10% or more of that corporation's stock, or the individual partners owning a 10% or greater interest in that partnership, as the case may be, shall also be listed. The disclosure shall be continued until names and addresses of every noncorporate stockholder and individual partner exceeding the 10% ownership criteria established in the applicable New Jersey public Laws of 1977, Chapter 8, has been listed. This contract is to be funded in part by The New Jersey Transportation Trust Fund Authority Act Fiscal Year 2024 Municipal Aid. It is the intent of the Township of Washington not to award the contract to any bidder who does not furnish evidence satisfactory to it, that he is responsible and that he has sufficient capital, ability, experience and equipment to perform all work in conformance with the plans and specifications, and to complete it within the time specified in the contract. All bids must be made upon the Form of Proposal furnished with these specifications and shall state the price in words and in figures of each item of the proposed work as shown on the drawings and contemplated in the contract. The bidder must sign the bid and state herein his business address and place of residence. The bid must be sealed in an envelope endorsed. The bid must be accompanied by consent of surety, non-collusion affidavit, ownership statement, ownership financial statement and a bid security (certified check, cashier's check or bid bond) in the amount of ten percent (10% of the total bid amount payable to the Township of Washington. The amount of such bid security need not be more than $20,000. The bid security must be in the envelope containing the bid. The party to whom the contract is awarded will be required to execute the contract and furnish a performance bond and a payment bond in the amount of 100% of the contract in a form approved by the Counsel of the Township of Washington with a surety company, as surety, for the faithful performance of this contract within five (5) days (not including Sunday) from the date of mailing notice from the Township, to the bidder, that the contract is ready for signature. The Contractor's proposal shall hold firm for sixty (60) days. The Township Council reserves the right to consider the bids for sixty (60) days after receipt thereof, and further reserves the right to reject any and all bids: waive informalities and make sure awards, or take action as may be in the best interest of the Township.
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