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DES:djk n~/03/95 (074/39) <br /> 0 R I G I N A L 2/13/95 <br /> <br /> RESOLUTION NO. 12405 <br /> <br /> RESOLUTION ACCEPTING BID FOR THE TWIN DOLPHIN DRIVE/ <br /> SHORELINE DRIVE TRAFFIC SIGNAL INSTALLATION PROJECT; <br /> AUTHORIZING EXECUTION OF AGREEMENT FOR SAID WORK; AND <br /> DIRECTING RETURN OF SECURITY DEPOSITS <br /> <br /> WHEREAS, pursuant to Resolution No. 12381, adopted December <br />19, 1994, the City Clerk advertised for bids for the Twin Dolphin <br />Drive/Shoreline Drive Traffic Signal Installation Project, <br />Redwood City, California; and <br /> <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 /> <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 said bid of Pacific Electric <br />Company; <br /> <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 Pacific Electric Company, in the amount of <br />Ninety-three Thousand Five Hundred and No/100 Dollars <br />($93,500.00), computed in accordance with said bidder's proposal <br />dated January 25, 1995, for the Twin Dolphin Drive/Shoreline <br />Drive Traffic Signal Installation Project, is hereby accepted, <br />and said bidder is hereby found and declared to be the lowest <br />responsible bidder for said work. <br /> <br /> 2. That certain agreement entitled "Agreement" (form dated <br />02/03/95) by and between the City of Redwood City, a municipal <br /> <br /> <br />