The Project includes the full depth PCC replacement of public streets, PCC driveway approach replacement, and PCC crack sealing at various locations in Polk City, Iowa. The Project consists of approximately 700 SY of PCC Full Depth Repair, modifications to ten (10) storm sewer structures, adjustments to two (2) sanitary sewer manholes, and associated work. Work on the improvements shall commence no sooner than March 1, 2024 and no later than May 1, 2024 and shall be completed as stated below. Contractor shall fully complete the project within 30 working days, with three (3) additional working days shall be added for each Bid Alternate selected. Should the contractor fail to complete the work in this timeframe, liquidated damages of $500 per calendar day will be assessed for work not completed within the designated contract term. Each bidder shall accompany its bid, including all additive bid alternates, with bid security as defined in Iowa Code Section 26.8, as security that the successful bidder will enter into a contract for the work bid upon and will furnish after the award of contract a corporate surety bond, in a form acceptable to the Jurisdiction, for the faithful performance of the contract, in an amount equal to 100% of the amount of the contract. The bidder's security shall be in the amount fixed in the Instruction to Bidders and shall be in the form of a cashier's check or a certified check drawn on an FDIC insured bank in Iowa or on an FDIC insured bank chartered under the laws of the United States; or a certified share draft drawn on a credit union in Iowa or chartered under the laws of the United States; or a bid bond on the form provided in the contract documents with corporate surety satisfactory to the Jurisdiction. The CITY OF POLK CITY does hereby reserve the right to reject any or all bids, to waiveinformalities, and to enter into such contract, or contracts, as it shall deem to be in the best interest of the jurisdiction.