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181sT DRIVE ACTIVE PARK APRIL 10, 2005 15.3 Bonds executed by an Attorney -in -Fact on behalf of the Surety, shall have affixed thereto a certified and current copy of Power of Attorney, indicating the monetary limit of such power. 15.4 Qualifications: As to companies being rated acceptable: A Bid Bond and Performance and Payment Bond must be executed by a Surety Company of recognized standing, authorized to do business in the State of Florida and having been in business with a record of successful continuous operation for at least (5) years. In addition to the above — minimum qualifications, the Surety Company must meet the following additional qualifications. a. The City will accept a surety bond from a company with a rating of B ++ or better for bonds up to $1 million, provided, however, that if any Surety Company appears on the watch list that is published quarterly by Intercom of the Office of the Florida Insurance Commissioner, the City shall review and either accept or reject the Surety Company based on the financial information available to the City. A Surety Company that is rejected by the City may be substituted by the bidder or proposer with a surety company acceptable to the City, only if the bid amount does not increase. b. The Surety Company shall have at least the following minimum ratings: Amount of Bond Policyholders Rating Financial Size Category 100,000 to 1,000,000 B ++ Class V or higher 1,000,001 to 2,000,000 A- Class VI or higher 2,000,001 to 5,000,000 A Class VII or higher C. All Surety Companies are subject to review and approval by the Owner and may be rejected without cause. All bonds signed by an Agency must be accompanied by a certificate of authority to act. 15.5 The Surety Company shall submit verification from the Department of Insurance Office of the Treasurer stating the surety company's license and certificate of authorization to do business in the State of Florida. 16. SUBCONTRACTOR LIST 16.1 In conjunction with the Bid Form, Bidder shall submit a list of names of the subcontractors and major material suppliers proposed for the principal portions of the Work. Submit list on form provided by the Engineer. 16.2 Prior to award of Contract, the Owner will notify the Bidder in writing if they have an objection to any person or entity listed. Upon such reasonable objection, the Bidder shall propose an acceptable substitute person or entity in accordance with Article 6.06 of the General Conditions. INSTRUCTIONS TO BIDDERS 00100 -6