HomeMy WebLinkAboutOrdinances (O-01-1296)-08/21/2001
ORDINANCE 0-01-1296
AN ORDINANCE APPROVING THE DEVELOPER PARTICIPATION IN CONTRACT
FOR PUBLIC IMPROVEMENTS BETWEEN CTL PROPERTIES, L.L.C. AND THE
CITY OF COLLEYVILLE, TEXAS FOR THE WINDING CREEK DEVELOPMENT
WHEREAS, CTL Properties, 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 AgreemenUContract for the Winding Creek Development,
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 ($22,614) 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 0-01-1296
Page 2 of 2
AND IT IS SO ORDERED.
The first reading and public hearing being conducted on the Ii!!L day of
4~C ,2001.
The second reading and public hearing being conducted on the.....j/ S}-day of
O--u j~t- ' 2001.
ATTEST:
CITY OF COLLEYVILLE
0~c::6fj~
E;;J~
Mayor
Cynthia Singleton, TRMC
City Secretary
~ROVED AS TO FORM AND LEGALITY:
~*
Ross T. Foster
City Attorney