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<br />contain a reservation of the Council's right to <br /> <br />reject any and all bids.1I <br /> <br />Section 4. <br /> <br />Section 2.66 of the Redwood City Code is <br /> <br />hereby amended to read as follows: <br /> <br />IISection 2.66 <br /> <br />When deemed necessary by the City <br /> <br />Manager, bid security shall be prescribed in the public <br /> <br />notice or written solicitation inviting bids. <br /> <br />Such <br /> <br />security shall be in the form of cash, cashier's check, <br /> <br />certified check or a bond executed by a corporate surety <br /> <br />authorized to transact business in the State, whichever <br /> <br />is deemed acceptable by the City Manager. <br /> <br />A successful <br /> <br />bidder shall forfeit any security required by the City <br /> <br />Manager upon such bidder's failure to enter into a written <br /> <br />contract or otherwise perform within ten (10) days after <br /> <br />the notice of the award and submission of the contract to <br /> <br />the bidder.1I <br /> <br />Section 5. <br /> <br />Section 2.67 of the Redwood City Code is <br /> <br />hereby amended to read as follows: <br /> <br />Unless the City Manager prescribes <br /> <br />IISection 2.67 <br /> <br />competitive oral bidding before the City Council in the <br /> <br />written solicitation or the public notice inviting bids, <br /> <br />bids shall be submitted in sealed envelopes to the City <br /> <br />Manager and shall be identified as bids on the envelopes. <br /> <br />Bids shall be opened publicly at the time and place <br /> <br />stated in the written solicitation or the public notice <br /> <br />inviting bids. <br /> <br />The City Manager or the person opening the bids under <br /> <br />the direction of the City Manager shall prepare a tabulation <br /> <br />of all bids received, which tabulation shall be available for <br /> <br />-3- <br />