HomeMy WebLinkAboutOrdinances (O-01-1284)-07/17/2001
ORDINANCE 0-01-1284
AN ORDINANCE APPROVING THE DEVELOPER PARTICIPATION IN CONTRACT
FOR PUBLIC IMPROVEMENTS BETWEEN VILLAGE MONTICELLO PARTNERS,
LTD., VILLAGE MANAGEMENT, LLC. AND THE CITY OF COLLEYVILLE, TEXAS
WHEREAS, Village Monticello Partners, Ltd., Village Management, LLC. (Developer)
shall construct public improvements and the City of Colleyville, Texas
shall participate in the cost as determined by municipal ordinance under
Subchapter C. Developers Participation in Contract for Public
Improvements, Local Government Code, State of Texas; and
WHEREAS, The City of Colleyville and Developer have entered into a City-Developer
Agreement for The Village at Colleyville, which specifies certain
construction costs that the City has agreed to participate in with the
Developer.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
Sec. 1.
Sec. 2.
Sec. 3.
Sec. 4.
Sec. 5.
Sec. 6.
THAT the Developer shall construct the improvements and the City shall
participate in their cost.
THAT the City's total cost participation ($311,193.25) does not exceed
thirty percent (30%) of the total contract price.
THAT the City's participation in the oversizing of public improvements
required by the City does not exceed one hundred percent (100%) of the
total costs of the oversizing so required.
THAT the Developer must execute a performance bond for the
construction of the improvements to ensure completion of the project, said
bond must be executed by a corporate surety in accordance with Chapter
2253, Government Code.
THAT the City shall be reimbursed by the Developer the total cost
participation by the City if City finds there was any undue loading of cost,
collusion, or fraud.
THAT all of the Developer's books and other records related to the project
shall be available for inspection by the City.
Ordinance 0-01-1284
Page 2 of 2
AND IT IS SO ORDERED.
The first reading and public hearing being conducted on the /~ ~day of
~ ,2001.
The second reading and public hearing being conducted on the ~ day of
M ,2001.
ATTEST:
CITY OF COLLEYVILLE
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Cynthia Singleton, TRMC
City Secretary
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Mayor
APPROVED AS TO FORM AND LEGALITY:
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Ross T. Foster
City Attomey