HomeMy WebLinkAboutR-76-0780t c /rb
8/10/76
RESOLUTION NO. 7 -730
A RESOLUTION WAIVING THE REQUIREMENT OF THE
CONTRACT DOCUMENTS FOR THE MOORE PARK IMPROVEMENTS
1976 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
ZJ+ # c--INSURANCE CARRIER ISSUING THE PERFORMANCE BOND
G' -, i •('AND INSURANCE FOR SAID PROJECT ONLY POSSESS A
�t� L-1 1 % ►--� V `� B+BB+ FINANCIAL RATING.
FOLLOW"
WHEREAS, the City of Miami received bids for the
MOORE PARK IMPROVEMENTS - 1976; and
WHEREAS, the City Commission by Resolution No.
76-673 awarded a contract for this improvement to Metro
Contractors Co., Inc. in the amount of $26,352.90; and
WHEREAS, it is the City's stated intention to help
all qualified minority contractors to perform work for the
City; and
WHEREAS, Metro Contractors Co., Inc. has met all the
technical qualifications for being a licensed and insured con-
tractor; and
WHEREAS, Metro Contractors Co., Inc. is only able
to provide the City with a performance bond and insurrance
issued by an insurance carrier possessing a financial rating
'.DOCUME N INDEX
of B+BB+; and ��:
ITEM N0. �' �
WHEREAS, present City contract documents require that
performance bonds, insurance or 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:
Section 1. The requirement that the insurance
carrier issuing a performance bond or insurance possess the
financial rating of A+AAA, as provided in the proposed contract
documents for MOORE PARK IMPROVEMENTS - 1976 awarded to Metro
Contractors Co., Inc. is hereby waived.
CITY COMMISSION
MEETING OF
SEP 9 1976
RESOLUTION NO. • �•. ;
REMARKS:
!
f .
Section 2. The proposed contract 66cdtpents for the
MOORE PARK IMPROVEMENTS - 1976 are hereby authorized to be
amended to provide that the insurance carrier issuing the per-
formance bond and insurance under said contract be only required
to possess a I3+BB+ financial rating.
PASSED AND ADOPTED this 9TH day of SEPTEMBER
1976.
MAURICE A, FERRE
CIT
CLERK
PREPARED AND APPROVED BY:
(97a4.A'-./
ROBERT F. CLARK
Assistant City Attorney
APPROVED AS TO FORM AND CORRECTNESS:
FRANK H. WESTON
Acting City Attorney
r 1.
MAYOR
s1s1jPt. ORT!VE
CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUMI176 AUG l PM ( • 59
Joseph Gra:,_; ie
City Manar,er
Virfeet E. Grimm, Jr., Dire`cor
F
/Department Of k -- tg A
DATE-. S�,t,t embeF a, 1 976
SUBJECT
Contract
FILE 2663
MOORE PARK IMPROVEMENTS - 1976
Resolution Waiving Requirement o
Contract Documents
REFERENCES
ENCLOSURES
The City of Miami received bids for i'1OORE PARK
IMPROVEMENTS - 1976 on June 18, 1976.and awarded
a contract to Metro Contractors Co., Inc. on July
A 1976 by R(:, -)1nt..ion Jo, 7(,-67 .
As per the contract doc:ulivrnL$ Lhc insurance carrier
that writes the peri'ormance bond and insurance must
be ratr,d r.+f!11i . 'r! r'r_' Cont.: 'j*_ Jrs Co, , In(.:, submitted
an insurance c n ricrr with rating o`'
Metro Contractors Co., Inc. is a minority Contract.ov
and it is the City's stated intention to help all
qualified minority c o n1_ raft on(,rrorm work for the
City.
THE DEPARTMENT OF PUBLIC WORKS RECOMMENDS ADOPTION OF
A RESOLUTION WAIVING THE REnUIREMENT OF THE CONTRACT
DOCUMENTS FOR THE '•1OORE PARK IMPROVEMENTS - 1976 WHICH
REQUIRE THAT A FINANCIAL RATING OF A+AAA BE POSSESSED
BY INSURANCE CARRIER ISSUING THE PERFORMANCE BOND AND
INSURANCE FOR SAID PROJECT, AUTHORIZING THE Ar1ENDMENT
OF THE CONTRACT DOCUMENTS TO REQUIRE THAT THE INSURANCE
CARRIER ISSUING THE PERFORMANCE BOND AND INSURANCE FOR
SAID PROJECT ON1Y POSSESS i'. B+BP-I FINTOICIAL RATING.
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