HomeMy WebLinkAbout2024-688-11.18.2024Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2024-688
A RESOLUTION APPROVING THE COMPLETION OF
PROJECT AND RECOMMENDATION OF ACCEPTANCE OF
WORK FOR WORK PERFORMED BY PETERSON
CONTRACTORS, INC., OF REINBECK, IOWA, IN THE
AMOUNT OF $592,005.17 IN CONJUNCTION WITH THE FY
2024 KINGSLEY AVENUE RECONSTRUCTION, CONTRACT
NO. 1100, AND RECEIVE AND FILE A TWO-YEAR
MAINTENANCE BOND.
WHEREAS, Peterson Contractors, Inc., of Reinbeck, Iowa, has completed the
reconstruction work on Kingsley Avenue under Contract No. 110 for the Fiscal Year 2024; and
WHEREAS, the total expenditure for the project amounts to $592,005.17, which aligns
with the approved contract terms and budget; and
WHEREAS, the Engineering Department has reviewed and inspected the completed
work and recommends acceptance as the work fulfills the contract specifications and quality
standards; and
WHEREAS, a two-year maintenance bond covering the project has been submitted by
the contractor to assure the integrity and durability of the completed work.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo as
follows:
1. The City Council hereby approves the completion of the Kingsley Avenue
Reconstruction project performed by Peterson Contractors, Inc., and accepts their work as per the
terms of Contract No. 1100.
2. The final payment in the amount of $592,005.17 is authorized and warranted by the City
Council.
3. The submitted two-year maintenance bond is received and filed as a security for the
project's structural maintenance over the specified period.
4. This resolution shall take effect upon its passage and approval.
PASSED AND ADOPTED this 18th day of November 2024.
Quentin Hart, Mayor
ATTEST:
7(elley Felchle
Kelley Felchle, City Clerk
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