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427 Goals Minority business participation in construction contracts will be calculated for each project for which a contract or contracts are awarded pursuant to North Carolina General Statute 143-128 and will be reported to the Board for information. The goal adopted by the Board for minority business participation in construction projects is 10 (ten) percent. Competitive Bids Nothing in this section shall be construed to require the County or contractors to award contracts to minority businesses who do not submit the lowest responsible bid. ADVERTISING FOR BIDS Advertisements must be placed in a newspaper having general circulation in the County. Advertisements must be published at least one week (7 days) before the time specified for the opening of bids and must contain: 1. Time and place where plans and specifications may be obtained; 2. The time and place for opening of the proposals; 3. A statement giving the Board of Commissioners the right to reject any and all bids; and 4. On certain construction contracts, a notice that bidders must be properly licensed under Chapter 87, General Statutes of North Carolina (O.S. 87-15). Copies of the bid package, including specifications, are available to any qualified bidders. County policy will also be to send notices and a complete bid package to as many known suppliers as is possible and practical. BID BOND No proposal shall be considered or accepted unless at the time of its filing it is accompanied by a deposit equal to not less than five percent of the proposal. In the case of bids on purchase contracts under $100,000, the Board of Commissioners may waive the bid deposit requirement. The deposit requirement for bids on construction and repair contracts may not be waived. The bid deposit may be in the form of cash, cashier's check, certified check, or a bid bond by a surety licensed in North Carolina. Other forms of deposit are not acceptable. This deposit shall be retained if the successful bidder fails to execute the contract within ten days after the award or fails to give satisfactory surety as required herein. BID OPENING PROCEDURE Sealed bids are opened at the exact time and date specified in the legal notice and on the bid request. The opening of a bid without the bidderVs permission prior to the bid opening date and time constitutes a misdemeanor. Ail bids will be opened publicly and late bids will not be accepted. County policy requires that all bids be made on the forms provided by the County and that delivery time and exceptions to the specifications be noted on the bid tabulation. STANDARDS IN AWARDING THE CONTRACT The award for all bids will be made to the "lowest responsible bidder taking into consideration quality, performance, and the time specified in the proposals for the performance of the contract". Formal bids are awarded by the Board of Commissioners based on recommendations by the County Manager. Cabarrus County in all instances reserves the right to reject any and all bids and to accept the bid most favorable to the County. NUMBER OF BIDS: Materials, Equipment, or Supplies The County prefers to obtain at least two or more bids for this type of contract. If a single bid is received and there is reason to believe that more than one bid would be obtained on a rebtd, the County policy will be to secure additional bids. A single bid will be returned to the bidder unopened if it is decided that a rebid is necessary or desireable. The County will accept a single bid without readvertisement if it can be demonstrated that there are no other suppliers on the item or that a sufficient