This project includes asphalt pavement reconstruction and rehabilitation, ARHM overlay, pavement grinding, and restriping of streets. The engineers estimate for the cost of the work is $350,000 The City reserves the right to reject any or all bids and to waive any irregularities or informalities in any bid or in the bidding and to make awards in the interest of the City. No bidder may withdraw his bid for a period of ninety (90) calendar days after the opening of bids At the time of the award of the contract, the successful bidder shall possess a Class "A" contractor's license or a combination of Specialty Class "C 12" licenses sufficient to cover all of the work to be performed by him. Only a contractor registered with the Department of Industrial Relations ("DIR") to bid on public works contracts in California shall be permitted to submit a bid. Furthermore, only subcontractors registered with the DIR to bid on public works contracts in California shall be permitted to perform work or labor or render service under subcontract to the subject contractor, or be listed on the bid. Further, the project is subject to compliance monitoring and enforcement by the DIR. In accordance with Public Contract Code section 22300, the bidder who is awarded the contract may substitute securities for retention moneys withheld by a public agency to ensure performance under this contract. The procedure and requirements for substituting said securities is set forth in Public Contract Code section 22300 which is incorporated by this reference as set forth herein. Each bid shall be accompanied by bid security referred to in the contract documents and by a list of proposed subcontractors. Evidence of insurance, a performance bond, and a labor and materials bond as specified in the contract documents will be required prior to execution of the contract.