Attny Re: Bid Security
Brenda Pricco
From:Keane, Timothy J. <Tim.Keane@kutakrock.com>
Sent:Thursday, June 7, 2018 9:20 AM
To:Larry Brown
Cc:Greg Lerud; Alyson Fauske
Subject:RE: Bid Security
Larry-
There is no statute of which I am aware that establishes either the necessity or amount of a bid bond or bid security for
municipal projects.
I have reviewed pertinent statutes and LMC materials.
I have always thought a nominal bid security to be prudent. 10% is getting up there.
Tim
From: Larry Brown [mailto:lbrown@shorewoodpw.com]
Sent: Thursday, June 7, 2018 8:15 AM
To: Keane, Timothy J. <Tim.Keane@kutakrock.com>
Cc: Greg Lerud <GLerud@ci.shorewood.mn.us>; Alyson Fauske <AFauske@wsbeng.com>
Subject: Bid Security
Tim: On the next Council agenda, I have an approve plans, specifications and estimate for the Boulder Bridge
Well Control project for an estimated construction value just south of $200k.
The electrical design engineer from AE2S presented me a bid package which calls for a 10% bid
security. Traditionally, we have always specified 5%.
So, in my research thus far of the statutes and the League, I do not find a set amount. Appears that we can set
the security amount, if I have that correct?
Larry Brown
Director of Public Works
For the City of Shorewood
Direct 952-960-7913
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