HomeMy WebLinkAboutR-75-1156■
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icunpnPTIVE
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of Grapeland Heights Park - Parking on October 23, 1975; and
WHEREAS, the City Commission by Resolution No. 75-990
awarded a contract for this improvement to Irpco Paving Corp-
oration in the amount of $23,911.00; and
WHEREAS, it is the City's stated intention to help all
SOLUTION NO.
75-115h
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A RESOLUTION WAIVING THE REQUIREMENT OF THE
CONTRACT DOCUMENTS FOR THE GRAPELAND HEIGHTS
PARK - PARKING IMPROVEMENT PROJECT WHICH
REQUIRE THAT A FINANCIAL RATING OF A+AAA BE
POSSESSED BY THE INSURANCE CARRIER ISSUING
THE PERFORMANCE BOND FOR SAID PROJECT, AND
AUTHORIZING THE AMENDMENT OP THE CONTRACT
DOCUMENTS TO ftEnUIRE THAT THE INSURANCE
CARRIER ISSUING THE PERFORMANCE BOND FOR SAID
PROJECT ONLY POSSESS A B+BBB FINANCIAL RATING.
WHEREAS,
qualified
the City of Miami received bids for construction
minority contractors to perform workiCforC I E fyitoEX
and
ITEM N O ....�.�1_.:�-
WHEREAS, Irpco Paving Corporation has met all the technical
qualifications for being a licensed and insured contractor; and
WHEREAS, Irpco Paving Corporation is only able to provide
the City with a performance bond issued by an insurance carrier
possessing a financial rating of 8+BB3; and
WHEREAS, present City contract documents require that per-
formance bonds 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 possess the financial rating of
A+AAA, as provided for in the proposed contract documents for
the Grapeland Heights Park - Parking Improvement awarded to
Irpco Paving Corporation, be and is hereby waived.
Section 2. The proposed contract documents for the
Grapeland Heights Park - Parking Improvement are hereby
authorized to be amended to provide that the insurance carrier
issuing the performance bond under said contract be only
required to possess a 11.4.SHS financial rating.
PASSED AND ADOPTED this 19 day of 11"einher 1975 .
f
ATTEST:)
H. H. Southern
)
Maurice A. Ferre
' • -
CITY CLERK
PREPARED AND APPROVED BY:
MAYOR
• ,t A
Robert E. Clark, Assistant City Attorney
APPROVED AS TO FORM AND CORRECTNESS:
John S. Lloyd, City Attorney
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Citr OP Mt AMl, FLUP!Ma
INtar4.0ori t Ms'MO ANOUM
Honorable `le'rll1ers of they
City Commission
a .., P. W, rtndrews
City Manager
f,
Minority Contractor Performance
Bonn - Agenda Item k4
The Miami City Commission has awarded a Paving Contract Bid and a Drainage, Con-
tract 13ic1 to Irpcu Paving Company, a minority contractor. After bid award, in the
process of procession of the Contract du.•urtnent.s, Irpc, was linable to obtain a
Pe rformance Bond for these projects from <t Bond Company rated A toAA as called
for in the City's Specifications. Irpcu is able to obtain a Performance Bond from a
Bond Company with a 13 t B1;' B rating and is able to pruvide the City with a Federal
Small Business Ments Association guarantee of 90 (.)f the Performance Bond.
in order to give assistance to t;)i!i•)ritV contractor participation in City work, the
• ' ', ''[; r•:ate v i'?t•
Contra(iUl't:...• : .. \`.-1 1;:11 v Itil the execution
of the Contract documents.