HomeMy WebLinkAboutR-76-0710ftPC/rb
7/13/76
RESOLUTION NO. 76-710
A RESOLUTION WAIVING THE REQUIREMENT OF
THE CONTRACT DOCUMENTS FOR THE N.E. 83 STREET
PAVING PROJECT WHICH REQUIRE THAT A FINANCIAL
RATING OF A+AAA BE POSSESSED BY THE INSURANCE
CARRIER ISSUING THE PERFORMANCE BOND AND
INSURANCE FOR SAID PROJECT, AND AUTHORIZING
THE AMENDMENT OF THE CONTRACT DOCUMENTS TO
REQUIRE THAT THE INSURANCE CARRIER ISSUING
THE PERFORMANCE BOND AND INSURANCE FOR SAID
PROJECT ONLY POSSESS A B+BBBB FINANCIAL .
RATING.
WHEREAS, the City of Miami received bids for the
N.E. 83 STREET PAVING PROJECT B-4397 (2ND BIDDING) July 1,
1976; and
WHEREAS, the City Commission will award a contract
for this improvement to Metro Contractors Co., Inc. in the
amount of $7,774 at the Commission meeting of July 22, 1976;
and
WHEREAS, it is the City's stated intention to help
all qualified minority contractors to perform work for the
F� I ' ►
WHEREAS, Metro Contractors Co I ,ttT'THc`1ias met ail
the technical qualifications for being a licensed and insured
contractor; and
WHEREAS, Metro Contractors Co., Inc. is only able
to provide the City with a performance bond and insurance
issued by an insurance carrier possessing a financial rating
of B+BBBB; and
WHEREAS, present City contract documents require
that performance bonds, insurance of City contracts be issued
by insurance carriers possessing a financial rating of A+AAA;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION
OF THE CITY OF MIAMI, FLORIDA:
City; and
CITY COMMISSION
MEETING OF
JUL 2 2 1976
RESOLUTION NO..,;'
REMARKS' ....................
Section 1. The requirement that the insurance
carrier issuing a performance bond or insurance possess the
financial rating of A+AAA, as provided for in the proposed
contract documents for the N.E. 83 STREET PAVING PROJECT
B-4397 (2ND BIDDING) awarded to Metro Contractors Co., Inc.
is hereby waived.
Section 2. The proposed contract documents for the
N. E. 83 STREET PAVING PROJECT B-4397 (2ND BIDDING) are hereby
authorized to be amended to provide that the insurance carrier
issuing the performance bond and insurance under said contract
be only required to possess a B+BBBB financial rating.
PASSED AND ADOPTED this 22 day of JULY
1976.
H. D, SOUTHERN
CITY CLERK
PREPARED AND APPROVED BY:
,`/'
_r . LL C,C/t1(
ROBERT F. CLARK
Assistant City Attorney
APPROVED AS TO FORM AND CORRECTNESS:
FRANK H. WESTON
Acting City Attorney
MAURICE A, FERRE
MAYOR
ry O FLO,i'JA
INTECFFEt.ACDRANDUM
•
nw. July 27, 1976
Contract
Flo-. 43,7
51J'tN, E. 83 STREi-;T PAVT:lq PROJECT
B-11Y)7 (2ND E,TDD) - Fesol.utI:n
Waiving Requiremnt or Contvact
Documentn
EN , 5
The CY,ty of :.tavd blin for the N. E. 83 STRET
A= 'PRJ--11.: (2:i9 .....4TI'DTNI) on July 1, 1976 and
w-111 a to Col,ractoi-n Co., Tnc. at
the (-27 July 22, 1976.
the innurance chrrler that
4;he b.mdr11nc rs,)t be rated
C(), Inc. nutmitted an inaurance
carrie: wit a
a mln,7)rity conract, and It
in the Cty1.7 Intsn',I to help all qualY'te's1
t3p wo for the City.
AD?:TT:.; OP
07 r.1E C0NTb"-CT DUCijFIENTS
f-3-4))97
F.A711111
P)::D AND
Ti-1E OF THE
7F.AT IHE
INANC,. Fc,a SATD PROJECT
RATTNT.