Res 2008-079 - Laserfiche WebLink

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II. Construction of the Public Improvements Developer has retained the engineering firm of Byrn and Associates, Inc. to prepare cost estimates and design the Public Improvements listed in Exhibits A and B which includes construction costs for the total project to be built (Exhibit A) and for the project without City oversize of the drainage system (Exhibit B). Developer shall use the plans and specifications prepared by Byrn and Associates, Inc. to solicit sealed competitive bids for construction of the Public Improvements. Developer shall furnish a bid tabulation to City prior to the award of the construction contract. At the time the construction contract is awarded and executed by Developer, City shall pay Developer an amount not to exceed $84,309.00 or 30% of the construction costs of the Public Improvements and an additional amount not to exceed $20,432.00 for design fees associated with drainage system oversize. The Developer shall execute a performance bond for the construction of the Public Improvements. The bond shall name City as the primary obligee and shall be in an amount equal to 100% of the construction contract for the Public Improvements. City agrees that this performance bond, when approved in a form acceptable to the San Marcos City Attorney, shall be deemed sufficient for purposes of §212.073 of the Texas Local Government Code and to meet the requirements of § 1.6.6.4 of the San Marcos Land Development Code as security for completion of the Public Improvements subsequent to approval of the final plat of the Marlton Estates Subdivision. Developer, at its discretion, may also require payment and performance bonds from the contractor selected by Developer to complete the Public Improvements.