AGENDA ITEM REPORT
TITLE:
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A RESOLUTION AUTHORIZING THE CITY MANAGER OR DESIGNEE TO EXECUTE A CASH BOND WITH BROWARD COUNTY FOR ROADWAY IMPROVEMENTS IN AN AMOUNT OF $9,922.00.
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BACKGROUND:
The City owns and maintains wastewater pipes within the County right-of-way on Lyons Road. As part of the City’s Capital Improvement Program, a valve needs to be replaced at the intersection of Lyons Road and Johnson Road. Although the City has contracted this work, a condition of the permit obtained from the County requires security for the installation, construction, completion, and maintenance of roadway improvements.
DISCUSSION:
Per the Broward County code of ordinances, the Broward County Highway Construction and Engineering Division is requiring the City to provide a Cash Bond as security for work to be performed within the County right-of-way at the intersection of Lyons Road and Johnson Road. Following execution of the cash bond, this valve replacement is expected to be completed in March/April of this year.
RECOMMENDATION:
Staff recommends execution of a Cash Bond with Broward County in the amount of $9,922.00
FISCAL IMPACT:
REVENUES: $ 0
EXPENDITURES: $ 9,922.00
BUDGETED? Y
NOTES This item will be set up as a receivable in the Water/Wastewater Fund account 41-S13300 Due From Other Governmental Unit.