Commissioner Ferdinandsen moved that the following Resolution be adopted:
BEFORE THE BOARD OF COUNTY COMMISSIONERS
OF THE COUNTY OF JEFFERSON
AUTHORIZATION TO PERMIT PAYMENT BY AMERICAN INSURANCE
COMPANY TO PCL CONSTRUCTION SERVICES, INC. FOR
ADDITIONAL COSTS ASSOCIATED WITH THE DEFAULT OF
RIDGE ERECTION COMPANY ON THEIR SUBCONTRACT WITH
PCL CONSTRUCTION SERVICES, INC.
WHEREAS, the Board entered into an Agreement with PCL Construction Services, Inc. on September 25, 1990 for the construction of a new Administration/Judicial Facility; and,
WHEREAS, the Agreement requires that PCL Construction Services, Inc.'s and their subcontractors' performance and labor and materials payment bonds name the County, Jefferson County Finance Corp., and the Trustee and PCL Construction Services, Inc. as dual obligees on the bonds.
WHEREAS, PCL Construction Services, Inc.'s subcontractor, Ridge Erection Company, defaulted on their contract with PCL Construction Services, Inc.; and,
WHEREAS, PCL Construction Services, Inc. has incurred additional costs as a result of such default by Ridge Erection Company and are entitled to receive such additional costs from Ridge Erection Company's bonding company; and,
WHEREAS, in order for PCL Construction Services, Inc. to receive payment from Ridge Erection Company's bonding company, the County, Jefferson County Finance Corporation and the Trustee must consent to such payment as co-obligees; and,
WHEREAS, payment of the additional costs incurred by PCL Construction Services, Inc. by Ridge Erection Company's bonding company will not impair or modify the contractual obligations of PCL Construction Services, Inc. with the County; and,
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WHEREAS, PCL Construction Services, Inc. has requested the County to release any interest the County has in the payment to PCL Construction Services, Inc. related to the default by Ridge Erection Company.
NOW, THEREFORE, BE IT RESOLVED that the Board of County Commissioners of the County of Jefferson, State of Colorado does hereby and herewith approve the release of the bond monies to PCL Construction Services, Inc. associated with the default of Ridge Erection Company and authorizes the Chairman to execute same.
Commissioner Clement seconded the adoption of the foregoing Resolution. The roll having been called, the vote was as follows:
Commissioner Rich Ferdinandsen AYE
Commissioner John P. Stone ABSENT
Commissioner Marjorie E. Clement, Chairman AYE
The Resolution was adopted by majority vote of the Board of County Commissioners of the County of Jefferson, State of Colorado.
Dated: February 18, 1992