HomeMy WebLinkAboutRESOLUTION NO. 2010-59 RESOLUTION NO. 2010-59
RESOLUTION REDUCING THE AMOUNT OF THE LETTER OF
CREDIT FROM GUARANTY BANK AND TRUST COMPANY FOR
PUBLIC IMPROVEMENTS IN PRAIRIE CREEK ESTATES FIFTH
ADDITION TO THE CITY OF FAIRFAX, LINN COUNTY, IOWA
WHEREAS, Synergy Development Group, L.L.C. has requested a reduction in
the amount of the Letter of Credit approved by Resolution for the completion of the
public improvements in Prairie Creek Estates Fifth Addition; and
WHEREAS, Hall and Hall Engineers, Inc. has reviewed the public improvements
currently installed and recommends a reduction in the amount of this Letter of Credit by
$45,681.19 to make partial payment for work completed on these public improvements.
This reduction will effectively reduce the Letter of Credit to $50,721.65.
NOW, THEREFORE BE IT RESOLVED, by the City Council of the City of
Fairfax, Iowa, that the Letter of Credit from Guaranty Bank and Trust Company is hereby
revised to the amount of $50,721.65 for the completion of the public improvements in
Prairie Creek Estates Fifth Addition to the City of Fairfax, Linn County, Iowa.
BE IT FURTHER RESOLVED, by the City Council of Fairfax, Iowa, that the
Mayor and the City Clerk are hereby authorized and directed to execute said Resolution.
Passed and approved this 14th day of December, 2010.
AYES: Beer, Frieden, Otto, Magers, and Wainwright
NAYS: None
ABSENT: None
c�
Jason abe
Mayor
ATTEST:
R` f/,
Cynt is Stimson
City Clerk/Treasurer
HALL & HALL ENGINEERS, INC.
Lea elers in!stud De"lopilou Sime 1953
December 8, 2010
Honorable Mayor and City Council
City of Fairfax, Iowa
P.O. Box 337
525 Vanderbilt Street
Fairfax, IA 52228-0337
Re: Draw No. 2 on the letter of Credit for Prairie Creek Estates Fifth Addition
Honorable Mayor and City Council,
We have reviewed the invoice submitted by Eggleston Concrete Contractors, Inc. (see attached)for
street paving installed for Ridgeview Drive and 2nd Street within the Prairie Creek Estates Fifth Addition.
We have provided construction observation and portland cement concrete pavement testing throughout
the installation of these streets, and we have inspected the project site to verify that the pavement
quantities are consistent with this request. Based upon this, we recommend the second draw from the
Letter of Credit be in the amount of$45,681.19 to cover the public improvements that have currently
been installed. This will effectively reduce the remaining Letter of Credit to $50,721,65.
Respectfully Submitted,
/Z
Shane R. Wicks, P.E.
Hall and Hall Engineers, Inc.
CC: Jeff[ben, Synergy Development Group, L.L.C.
Ruth Nebergali, Guaranty Bank and Trust Company
Eggleston Concrete Contractors, Inc.
Encl.
CIVIL ENGINEERING - LAND SURVEYING • LAND DEVELOPMENT PLANNING • LANDSCAPE ARCHITECTURE
1860 Boyson Road • Hiawatha,IA 52233 • Ph:319,362.9548 • Fx:319.362.7595 • www.halleng,com
!BILL TO:
p.Q MUJ�IEtER TERMS PROJECT I
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NOTE:
GRADE TO BE WITHIN 1/10TH,ROCK FOR FINE GRADING TS
SUPPLIED BY OTHERS
-PAVING HUBS TO BE SUPPLIED BY OTHERS
TRAFFIC CONTROL AND BARRICADES TO BE BY OTHERS os
-WINTER COVER AND MATERIAL NOT INCL DE PIC
-AbbITIONAL MOBILIZATION WILL BE CHARGED @-$3'- .
ONE MOB IS INCLUDED
-jqARjNgAP SIC-F-t;TIMATES ARE VALID 1 L5l,3►p �31�,�
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