HomeMy WebLinkAboutResolution No. 1974-09RESOLUTION NO, 74 -9
A RE'SOLUT'ION ACCEUTING A CASII BOND OF $5.000.00
FROM RUBBISHMAN, INC., PURSUANT TO GARBAGE
COLLIEC'MON AGREEML'M', IN LIEU OF BOND PROVIDED
I-Olt IN SAiD COWRACT: PROVIDING AN EFFECTIVI? DATE.
WHEREAS. the City Council of the City of Cape Canaveral.
Florida, has entered into n contract with Rubbishnran. Inc, for garilage
services within the City of Cape Canaveral: and
MIMMAS. Section 4 of said Agreement provides that the
Collector shall furnish a performance bond or other surety satisfactory
to the City as a guarantee of its performance under said Agreement;
NOW, THEREFORE, RE 1T RESOLVED BY'I'HE C1TY
COUNCIL OF THE CiTY OI' CAPE CANAVI?RAL„ FLORIDA, AS FOLLOWS:
SECTION 1, The City of Cape Canaveral. Florida. hereby
accepts a cash performance bond in the amount of $5, 000,00 from Rubblsh-
man. Inc., pursuant to Section 4 of the Garbage and Rubbish Collection
Agreement executed between the City of Cape Canaveral. Florida and
Rubbishman, Inc., said bond is accepted in lice Of the performance bond
required during the first year of said contract, which provides that the
bond shall be in the amount of 3/12 of the annual contract fee. It is
understood that said cash bond shall be deposited with a trustee to Ile
selected by the City Attorney for the City of Cape Canaveral and Rubbish -
man. Inc, It is agreed that this cash bond shall be refunded to Rubbish -
man. Inc., upon a performance bond being furnished to the City by
Rubbishnnan, inc„ or other surety satisfactory to the Clty as a guarantee
of performance, no later than the first anniversary of said Garbage and
Rubbish Collection Agreement, to -wit: I\-lay I, 1974, The amount of the
bond to be furnished at that time shall be 2/12 of the annual contract fee,
or 515, 000.00, It Is the intent of the City Council of the City of Cape
Canaveral. Florida, that nothing contained herein shall waive any of the
specific requirements of the Garbage and Rubbish Collection Agreement
MICRbLD
described herein, and in no way reduces the amount of performance
bond required to be furnished by Rubbishman, Inc. in performance of
said Agreement with the City.
It is further the specific intent of the City Council of the
City of Cape Canaveral that Rubbishman, Inc. shall furnish a perfor-
mance bond in full compliance with Section 4 of said Agreement no
later than May,1, 1974. In the event Rubbishman, Inc. fails to comply
therewith by May 1, 1974, the $5, 000. 00 cash bond herein described
shall be forfeited by Rubbishman, Inc. and the Trustee is authorized to
pay said amount over to the City of Cape Canaveral.
SECTION 2. . This Resolution shall become effective immed-
iately upon its adoption by the City Council of the City of Cape Canaveral,
Florida.
ADOPTED by the City Council of the City of Cape Canaveral,
Florida, this 5th-day of March , 1974.
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NAME YES NO ABS
!Approved as to form: MACLAY ✓ .
RHAME
RUTKOWSKI ✓
City Attorney SALVAGGIO ✓
THURM ✓