AI- 13931
21.B.1.
CC REGULAR
- Meeting Date:
- 02/17/2009
- Submitted For:
- Marty Salazar
- Submitted By:
- Vangie Garcia, PURCHASING DEPT.
- Department:
- PURCHASING DEPT.
Information
CAPTION
Presentation for discussion, consideration and approval of an "Irrevocable Directive of Draw Proceeds/Disbursement Agreement" as required (as a condition precedent to issuing Payment & Performance bonds) by bonding company, Insurors Indeminity Company, contract surety for Closner Construction for: "Culvert Crossing and Drainange Improvement Project-Mile 13 North and Mile 6 West" (approved by Commissioners Court on January 20, 2009-Project #2008-320B-11-12-LRM) and thus directing all contract funds to Aacon, Inc., disbursement agent for: Closner Construction Co., LLC and as further specificed/detailed on document(s) attached herein.
BACKGROUND
Approval of this request will allow surety company to provide the required payment and performance bonds for completion and execution of required contracts.
Fiscal Impact
- FISCAL YEAR:
- 2009
- ACCT. #:
- 9-1201-431-00-121-052-0-733
- FUNDS AVAILABLE Y/N?:
- Y
- MATCHING FUNDS Y/N?:
BUDGETARY IMPACT:
Approval for fiscal impact taken on previous action of 01/20/09.Available Balance as of 2-11-09 ($227,654.66), pending closing of period 13.
Available Balance as of 2-11-09 for calendar year 2008 $571,017.34, pending closing of period 13.
Monies in the amount of $241,000.09 have been appropriated for calendar year 2009 approved by CC on 1-20-09, refer to AI #13405 for the contract award to Closner Construction.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Purchasing / Internal | msalazar | 02/11/2009 01:21 PM |
| Budget and Management | Veronica Lopez | 02/11/2009 01:28 PM |
| Auditor's Office | 02/13/2009 05:45 PM |
- Form Started By:
- vgarcia
- Started On:
- 02/11/2009 09:24 AM
- Final Approval Date:
- 02/13/2009