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DES:dq% 09/18/96 (046/42) <br /> ~ 0 R I G I N A L --9/23/96 <br /> <br /> R E S O L U T I O N N O. 12907 <br /> <br /> RESOLUTION ACCEPTING BID FOR MYRTLE STREET/PARKING LOT <br /> IMPROVEMENTS PROJECT; AUTHORIZING EXECUTION OF <br /> AGREEMENT FOR SAID WORK; AND DIRECTING RETURN OF <br /> SECURITY DEPOSITS <br /> <br /> WHEREAS, pursuant to Resolution No. 12854, adopted August <br />26, 1996, the City Clerk advertised for bids for the Myrtle <br />Street/Parking Lot Improvements Project in the City of Redwood <br />City, California; and <br /> <br /> WHEREAS, pursuant to said advertisement, seven bids were <br />received for the performance of said work and filed with the City <br />Clerk; and <br /> <br /> WHEREAS, Satterfield & Co. of San Bruno, California, is the <br />lowest responsible bidder and it is the intention and desire of <br /> <br />this Council to accept said bid of Satterfield & Co.; <br /> NOW, THEREFORE; <br /> <br /> BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY, <br />AS FOLLOWS: <br /> <br />1. The bid of Satterfield & Co., in the amount of One <br />Hundred Eighty Thousand Nine Hundred Seventy-five and 77/100 <br />Dollars ($180,975.77), computed in accordance with said bidder's <br />proposal dated September 18, 1996, for the Myrtle Street/Parking <br /> <br />Lot Improvements Project, is hereby accepted, and said bidder is <br />hereby found and declared to be the lowest responsible bidder for <br />said work. <br /> <br /> 2. That certain agreement entitled "Agreement" (form dated <br />09/18/96) by and between the City of Redwood City, a municipal <br /> <br /> <br />