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<br />(d) Adepti8n 81 CfJntracwr's statcmcnt .ferms. The city eouncil approves and adopts the <br />forms for contractor's statements, incorporated b)' reference in this seetion, and made a <br />part of this article for all purposes. <br />ffl Determination of bidding capacity. The city is interested in determining a <br />contractor's bidding capacity for the purpose of issuing proposals and awarding contracts <br />subiect to Section 2-106 of this Code. Bidding capacity for each contractor shall be equal <br />to their net working capital. Net working capital is defined as current assets less current <br />liabilities, as shown on a balance sheet examined audited by an independent certified <br />public accountant. The city will determine the minimum bidding capacity for each <br />project. Only those contractors possessing a bidding capacity meeting or exceeding that <br />minimum will be considered prequalified for that project. <br />@ Standards for contractor disqualification. The city council adopts the following <br />standards for disqualification of contractors: <br />(1) Automatic disqualification. Automatic disqualification shall take place under the <br />following circumstances: <br />a. The company has a negative net working capital or does not meet minimum bidding <br />capacitv. <br />b. There is a failure to complete statements in all detail. <br />c. The company or personnel are on the federal job debarment list. <br />d. The company or personnel are on the Justice Department list of unacceptable <br />contractors; i.e. convicted on antitrust violations. <br />e. There is a failure to complete a statement in a truthful manner. <br />(2) Other considerations for possible disqualification. Disqualification may also take <br />place according to the following considerations: <br />a. Companies with pending litigation may be disqualified for the duration of litigation as <br />deemed to the advantage of the city by the city's project manager. <br />b. There is a default on the contract, or forfeiture of bid bonds or performance bonds. <br />c. There is a performance record of poor workmanship on previous projects. <br />d. There is a performance record of failure to complete warranty work. <br />e. There has been a bankruptcy or financial reorganization. <br />f. Companies submitting consolidated financial statements will be disqualified unless <br />their parent company agrees to be the contracting party with the city. <br />