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DES:djk 10/12/92 (006/34) <br /> O R I G I N A L 10/19/92 <br /> R E S O L U T I O N NO. 11869 <br /> RESOLUTION ACCEPTING BID FOR REDWOOD SHORES PARKWAY/ <br /> TWIN DOLPHIN DRIVE TRAFFIC SIGNAL PROJECT; AUTHORIZING <br /> EXECUTION OF AGREEMENT FOR SAID WORK; AND DIRECTING <br /> RETURN OF SECURITY DEPOSITS <br /> WHEREAS, pursuant to Resolution No. 11829 , adopted August <br /> 31 , 1992 , the City Clerk advertised for bids for the Redwood <br /> Shores Parkway/Twin Dolphin Traffic Signal Project; and <br /> WHEREAS , pursuant to said advertisement, eight bids were <br /> received for the performance of said work and filed with the City <br /> Clerk; and <br /> WHEREAS, Pacific Electric Company, of San Jose, California, <br /> is the lowest responsible bidder and it is the intention and <br /> desire of this Council to accept the bid of said bidder; <br /> NOW, THEREFORE; <br /> BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY, <br /> AS FOLLOWS: <br /> 1 . The bid of Pacific Electric Company, in the amount of <br /> Sixty-six Thousand and No/100 Dollars ($66 , 000 .00) , computed in <br /> accordance with said bidder' s proposal dated September 30 , for <br /> the Redwood Shores Parkway/Twin Dolphin Drive Traffic Signal <br /> Project is hereby accepted, and said bidder is hereby found and <br /> declared to be the lowest responsible bidder for said work. <br /> 2 . That certain agreement entitled "Agreement" (form dated <br /> 10/12/92) by and between the City of Redwood City, a municipal <br /> corporation of the State of California and Pacific Electric <br /> Company, providing for the aforesaid improvements, a copy of <br /> which agreement is on file in the Office of the City Clerk, to <br />