It is the intent of the City of Alexandria to secure pricing on Bulk Fuel for the City’s vehicles and equipment. This contract shall remain in effect for a period of twelve (12) months from bid award date. Contingent upon the availability of funds and the ability of the successful bidder to honor the bid prices, the City reserves the right to renew the existing contract for a period of up to twenty-four (24) months, in twelve (12) month increments.