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411 <br /> become payable to the Town,in case the bidder depositing the same does not, <br /> after the contract has been awarded to him,and within the time specified in said <br /> plans and specifications,enter into a contract,in form as set forth in said <br /> specifications,with the Town,the faithful performance of which shall be assured <br /> by an undertaking in the amount of one hundred percent(100%) of the amount <br /> so bid,with sureties satisfactory to the Town,and which shall be accompanied <br /> by a payment bond (labor and materials) in a sum not less than one hundred <br /> percent (100%) of the amount of said bid. <br /> Section 6. The sealed proposals or bids shall be delivered to the City <br /> Clerk of the Town on or before 2:00 p.m. on the 13th day of July, 1994 at the <br /> Office of the City Clerk in the Town Hall,26379 Fremont Road,in the Town, said <br /> time being not less than ten(10) days from the time of the first publication of said <br /> Notice. Bids will be publicly opened,examined and the Council will take action <br /> awarding the contract or rejecting all bids not later than thirty (30) days after the <br /> expiration of the time prescribed for the receipt of bids;provided that the award <br /> may be made after the expiration of the specified time,if the bidder shall not <br /> have given to the Council notice in writing of the withdrawal of such bid or <br /> proposal. <br /> Section 7. The City Council of the Town hereby reserves the right to _ <br /> reject any and all bids. <br /> PASSED AND ADOPTED this 15th day of June , 1994. <br /> By: '�/ �.__� <br /> Mayor <br /> ATTEST: <br /> City Clerk <br /> 2 <br />