1987-06-22 Regular Meeting - Laserfiche WebLink

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~ ,~ • ORDINANCE NO. 1476-A Page 2 Section 2. Contractors entering bids on City of La Porte -_ construction projects shall not subcontract more than fifty percent (50$) of the work on the project, without first obtaining the express written consent of the City of La Porte. Section 3. All Contractors (or a representative of the contrac- ` tor} desiring 'to bid on City of La Porte construction projects must attend a pre-bid conference; otherwise, such Contractor's bid will be returned by the City unopened. Section 4. Public notice of prequalification of bidders by the City of La Porte, shall be published in like manner as invitations to bidders, and shall not be a substitute for publishing the actual invitation to bidders on each project. ~~~'' Section 5. `The City Council of the City of La Porte approves and adopts the forms for Contractor's Statements, attached hereto as Exhibit "A", incorporated by reference herein, and made a part hereof for all purposes. 'Section 6. The City of La Porte is interested in determining a Contractore's "Bidding Capacity" for the purpose of issuing proposals .. ..__ _. and awarding contracts. "Bidding Capacity" is determined by multiply- ing the positive net .working capital, as hereinafter defined, by a ;.~ ,:i ,. factor determined by the City of La Porte. Only those statements °reflecting a positive net working capital position will be considered satisfactory for prequalification purposes. "Positive Net Working Capital" generally is represented by ther excess of current assets over current liabilities, as shown by a balance sheet examined by an independent Certified Public Accountant. Section 7. The City Council of the City of La Porte adopts the ~~,:;~ ~~~ ~ - _ ~.y. : . ::~ #' .:in .. 5 „pd' f S t.~ j f~y _ _ ~^ w' ;j1'(F f ~`rr ~ ~ ~F y 6 ~(~~ Y l: S ~~.~ .: _ r. `