Resolutions-2011-35

CITY OF TIFFIN RESOLUTION NO. 2011 - 35 RESOLUTION FOR APPROVAL TO ALLOW A THREE YEAR MAINTENANCE BOND FOR CITY STREET REPAIRS UNDER $ 48, 000 WHEREAS: the City Council of Tiffin, Iowa has been requested to allow public improvements be allowed for work in the City of Tiffin under a three year maintenance bond. WHEREAS: Zoning Ordinance 2007 -287 Design Standards Streets 5. 01 Subsection E. state that "A five -year 5) maintenance bond covering defective materials and workmanship is required for all street improvements." THEREFORE: The City Council may by resolution grant the acceptance of a maintenance bond of less than five years. It is understood that the requirement of a five year maintenance bond or letter of credit creates a financial hardship upon the smaller contractor. An amendment to the Zoning Ordinance 207 -287 will be made by City Council at a later date. THEREFORE, BE IT RESOLVED: the City Council of Tiffin, Iowa approves and allows the Mayor and City Clerk to accept a three year maintenance bond to cover the materials and workmanship of projects under 48, 000. Retainage of 5% will be retained from any contractor until the three year Maintenance Bond is received by the city from the contractor or a Letter of Credit to cover the amount of the contract. On this 10th day of August 2011 at a regular meeting of Tiffin City Council, Tiffin, Iowa, Council person Mike Gericke introduced RESOLUTION 2011 -35, RESOLUTION FOR APPROVAL TO ALLOW A THREE YEAR MAINTENANCE BOND FOR CITY STREET REPAIRS UNDER $ 48, 000 and made a motion for approval. The motion was seconded by Council person Travis Weipert. AYES: Chris Ball, Jim Bartels, Mike Gericke, Mark Petersen, Travis Weipert NAYS: None ABSENT: None WHEREUPON, with Five votes for approval, Mayor Phillips declared that Resolution 2011 - 35 be adopted and signified his approval of the same by affixing his signature thereto. Passed, and approved this 10th day of August 2011. City of Tiffi Row', Signed by May• r j Attest to: Ruth Demuth, City Clerk