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<br />. <br /> <br />e <br /> <br />Section 6. The City of La Porte is interested in determining a <br />contractor's "Bidding Capacity" for the purpose of issuing proposals and <br />awarding contracts. "Bidding Capacity" for each Contractor shall be equal to <br />their Net Working Capital". "Net Working Capital" is defined as current <br />assets less current liabilities, as shown on a balance sheet examined by an <br />independent Certified Public Accountant. The City will determine the minimum <br />"Bidding Capacity" for each project. Only those contractor's possessing a <br />"Bidding Capacity" meeting or exceeding that minimum will be considered pre- <br />qualified for that project. <br />Section 7. the City Council of the City of La Porte adopts the following <br />standards for disqualification of Contractors: <br />I. AUTOMATIC DISQUALIFICATION <br />A. Company has a negative Net Working Capital. <br />B. Failure to complete Statements in all detail. <br />C. Company or personnel on Federal Job Debarment list. <br />D. Company or personnel on Justice Department list of unacceptable <br />contractors; i.e. convicted on anti-trust violations. <br />E. Failure to complete Statement in a truthful manner. <br />II. OTHER CONSIDERATIONS FOR POSSIBLE DIS-QUALIFICATION <br />A. Companies with pending litigation may be disqualified for duration of <br />litigation as deemed to the advantage of the City by the City's Project <br />Manager. <br />B. Default on contract, or forfeiture of bid bonds or performance bonds. <br />C. Performance record of poor workmanship on previous projects. <br />D. Performance record of failure to complete warranty work. <br />E. Bankruptcy or financial reorganization. <br />