HomeMy WebLinkAboutCity Council Resolution 1974-462Councilman Hunt introduced the follcraing Resolution and moved
s adoption:
RESOLUTION NO. 74-462
APPROVING CHANGE IN PAYMENT - z
PROJECT NO. 402-001 - ELEVATED WATER TOWER
WHEREAS, the City of Plymouth and the Contractor, Chicago Bridge and Iron Company,
have entered into a contract dated August 9, 1974 for the construction of a 2.0
million gallon spheroidal elevated water tower, Project No. 402-001, and
WHEREAS, the contractor, Chicago Bridge and Iron Company has agreed to a deduct
of $34,200.00 as per their letter of August 6, 1974, if the City of Plymouth
agrees to the following terms:
The contract price shall be paid in funds current at par in New York or Chicago,
U.S.A., free of all collection charges, as follows:
Within thirty (30)days after receipt of a monthly estimate, the purchaser shall
pay ninety percent (90%) of the value of the material received and the work done
by Chicago Bridge and Iron Company on account of this contract during the
preceding calendar month. The balance of the contract price is to be paid
upon test or inspection and acceptance or, if such test or inspection is delayed
for any reason attributable to the purchaser, the balance shall be paid within
thlt'ty (30) days after the work is ready for test or inspection, and
WHEREAS, the contractor's bonding company, Federal Insurance Company, is agreeable
to the'aforementioned terms as per their letter of'August 7, 1974 to the City of
Plymouth,
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH, that
the Mayor and Manager are authorized to execute Change Order No. 1 to Project No. 402-001
wherein the total contract price is reduced by $34,200.00,
AND BE IT FURTHER RESOLVED, that the City of Plymouth agrees to the following terms:
The contract price shall be paid in funds current at par in New York or Chicago, U.S.A.
freeof all collection charges, as follows:
Within thirty (30) days after receipt of a'monthly estimate, the peechaser shall pay
ninety percent $0%) of the value of the material received and the work done by Chicago
Bridge and Iron Company on account of this contract during the preceding calendar month.
The balance of the contract price is to be paid upon test or inspection and Acceptance,
or if such test or inspection is delayed by any reason attributable to the purchaser,
the balance shall be paid within thirty (30) days after the work is ready for test or
inspection.