Resolutions-2011-36

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." s( 4 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 a1etter 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 Signed by Ro Tiffir e.L, ?,60 pp , May r Attest to: Ruth Demuth, 6ity Clerk