1.107.050 Public Bidding.
(1) Invitation to Bid. An Invitation to Bid includes the specifications, terms, and conditions applicable to the procurement. Notice of the Invitation to Bid is published in the official newspaper of the city and the notice shall state the place, time and date of bid opening, and the location for obtaining a copy of the Invitation to Bid.
(2) Bid security. Bid security is required for all public bids submitted in response to an Invitation to Bid for a public works contract when the estimated cost of the project will exceed Two Hundred Thousand Dollars ($200,000) including the costs of materials, supplies, equipment and labor. Bid security is a bond provided by a surety company authorized to do business in the state of Washington, or the equivalent in cash, or otherwise provided to the City in a form satisfactory to the Public Works Director.
(a) Amount of security. Amount of bid security for all public works contracts is at least five percent of the amount of the bid.
(b) Rejection of bids for noncompliance. When the Invitation to Bid requires bid security, noncompliance with this requirement will result in the bid being rejected by the city unless it is determined that the bid fails to comply in any non-substantial manner with the bid security requirements.
(c) Withdrawal of bids. After the bids are opened by the Public Works Director or the Finance Director, the bids are irrevocable for the period specified in the Invitation to Bid. If a bidder is permitted to withdraw his bid before the award, no action is had against the bid or the bid security. (Ord. 04-18 §5, 2004).