Cal. Pub. Cont. Code § 10512
Real Property
Redline — January 1, 2011 → current.View current text →
Current — January 1, 2015
As of January 1, 2011
(a) On the date designated in the public notice, the sealed bids shall be publicly opened.
(a) On the date designated in the public notice, the sealed bids shall be publicly opened.
(b) (1) The regents shall accept in public the bid that offers the combination of price and terms which it deems to be in the best interest of the university, or reject all bids.
(b) (1) The regents shall accept in public the bid or proposal that it deems to offer the best combination of price, terms, and bidder’s qualifications to the university, or reject all bids or proposals. A bidder’s qualifications may include factors other than price and terms, such as the bidder’s ability to complete the transaction or to secure development entitlements.
(2) If a successful bidder fails to perform in the manner specified, the regents may, at their sole option and without further notice, accept, from those remaining bids submitted and opened in public pursuant to subdivision (a), the bid that offers the combination of price and terms that the regents deem to be in the best interest of the university.
(2) If a successful bidder fails to perform in the manner specified, the regents may, at their sole option and without further notice, accept, from those remaining bids or proposals submitted and opened in public pursuant to subdivision (a), the bid or proposal that it deems to offer the best combination of price, terms, and bidder’s qualifications to the university.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.