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ORDINANCE NO. ~~'~~ <br />Page 2 <br />attend a pre-bid conference; otherwise, such Contractor's bid <br />will be returned by the City unopened. <br />Section 4. Public notice of prequalification of bidders by the <br />City of La Porte, shall be published in like manner as invitations <br />to bidders, and shall not be a substitute for publishing the <br />actual invitation to bidders on each project. <br />Section 5. The City Council of the City of La Porte approves and <br />adopts the forms for Contractor's Statements, attached hereto as <br />Exhibit "A", incorporated by reference herein, and made a part <br />hereof for all purposes. <br />Section 6. The City of La Porte is interested in determining a <br />Contractor's "Bidding Capacity" for the purpose of issuing pro- <br />posals and awarding contracts. "Bidding Capacity" is determined <br />by multiplying the positive net working capital, as hereinafter <br />defined, by a factor determined by the City of La Porte. Only <br />those statements reflecting a positive net working capital po- <br />sition will be considered satisfactory for prequalification pur- <br />poses. "Positive Net Working Capital" generally is represented <br />by the excess of current assets over current liabilities, as <br />shown by a balance sheet examined by an independent Certified <br />Public Accountant. <br />Section 7. The City Council of the City of La Porte adopts the <br />following standards for disqualification of Contractors: <br />I. AUTOMATIC DISQUALIFICATION <br />A. Company has no Positive Net Working Capital. <br />B. Company submits consolidated Statements. <br />C. Failure to complete Statements in all detail. <br />D. Company or personnel on Federal Job Debarment list. <br />