HomeMy WebLinkAboutOrdinances (O-01-1289)-08/08/2001
ORDINANCE 0-01-1289
AN ORDINANCE APPROVING THE DEVELOPER PARTICIPATION IN CONTRACT
FOR PUBLIC IMPROVEMENTS BETWEEN RIVERWALK DEVELOPMENT, L.L.C.,
AND THE CITY OF COLLEYVILLE, TEXAS FOR THE BRIDGES OF RIVERWALK
WHEREAS, Riverwalk Development, L.L.C., (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 hereby entered into a City-
Developer Agreement/Contract for The Bridges of Riverwalk, 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.
THAT the Developer shall construct the improvements and the City shall
participate in their cost.
THAT the City's total cost participation ($68,500.36) does not exceed thirty
percent (30%) of the total contract price.
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 0-01-1289
Page 2 of 2
AND IT IS SO ORDERED.
The first reading and public hearing being conducted on the /1'rA day of
~ ,2001.
The second reading and public hearing being conducted on the ~ day of
~.LLOC' ' 2001.
ATTEST:
CITY OF COLLEYVILLE
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Mayor
Cynthia Singleton, TRMC
City Secretary
APPROVED AS TO FORM AND LEGALITY:
Ross T. Foster
City Attorney